I help individuals and businesses resolve their IRS and Tax Problems. Audit Defense, IRS Collections, Penalty Abatements, OIC and Installment Agreements.
@RepBowman
If you really cared about Arabs you would speaking out against terrorist and dictatorship instead of boycotting the only democracy in the Middle East. But clearly you just don’t like Jews
@ClayTravis
If it was anyone else, IRS procedure is to get subpoena visit the person’s home and office to search for records. They won’t even admit that this was out of the ordinary.
@AOC
@amnestyusa
@hrw
If you really cared about Arabs you would call out the dictators and terrorists but instead you boycott the only democracy that protects Arab women and the lgbt community. Clearly you just don’t like Jews
@Alonso_GD
Hamas takes it money and invests in weapons and rockets not food and water. It’s not Israel’s fault. They were being nice providing water and electricity not anymore
@FirstLadyNJ
@NewJerseyDOE
Can we just focus on the basics like reading and writing? Most inner city schools in the state struggle mightily in these areas and focusing on ridiculous things like this will not help them
@ajplus
He is an open member of a terrorist organization and was shooting at Israeli soldiers. Playing soccer in your spare time doesn’t mean you aren’t a Terrorist
A lot of times we complain about IRS agents, but I had a great one today. Clients bank account was levied, and wages garnished for not dealing with significant back tax liability. The levy prevented him from paying his child support and he has major surgery in two weeks.
This is the worst kind of letter to get from the IRS. The person got an oic accepted saving over $50k but they defaulted on the agreement and now owe the tax again. This person just couldn’t adjust their spending habits. U can lead a horse to water but can’t make them drink.
@TheTaxlRose
There is nothing wrong with increasing your price. If the person refers you business they value your work. I would send a nice thank you letter or bottle of wine or personalized gift. Just let them know you appreciate them
Apparently Hunter Biden reported money his company paid him as a loan. When is a loan taxable? The IRS looks for 3 things: a signed agreement, computed interest and monthly payments, none of which he had.
#HunterBiden
Had a client try to issue a 1099 to his ex girlfriend for the money he paid her to leave his house. I said this is a personal expense and his response was no, it’s business never personal lol
#TaxTwitter
@LoganGrafTax
We charge $1500. Bad advice is bad whether you charge $2000 or $100. If you are a licensed CPA or EA you shouldn’t be doing much for under $1,000 IMO
A lot of people that owe back taxes are afraid that if they pay the IRS they won’t be able to pay their mortgage or car payment etc. The IRS actually allows a lot of these expenses and if your proactive and plan you can get an affordable payment agreement.
#taxtwitter
#cpa
@NydiaVelazquez
If you really care about the rights of Arabs you should be calling out all the dictators and terrorists in the Middle East instead of boycotting the only democracy.
@LoganGrafTax
stay away from hourly rates! You shouldn’t be penalized for being smart and efficient. I charge flat fees which include being able to ask quick questions throughout the year. If I have to do research or calculations then their is an additional charge based on what they need
We provided the agent with the appropriate documentation, he called me back immediately and we setup a payment plan and he released all levies. Just one phone call. We were prepared and so was he and he was also compassionate.
#taxtwitter
Remember debt forgiveness may be taxable. This is how a lot of people get into tax trouble. They don’t realize and don’t include it on their return. If you are able to show insolvency then it’s not taxable but you have to file form 982.
#taxtwitter
@mindfullyemily
Serious question. Does that put the client’s best interest first? It seems like you are creating a culture where people are just looking for ways to bill a client instead of looking for ways to actually provide value.
@LoganGrafTax
Easiest way to become a partner at tax/law firm is to work for the IRS for 5-10 years. That’s what I would do if I was going to law school now.
@KFCBarstool
@KFCBarstool
reason for payment 1040, year 2021, have a copy of your 2020 return with you bc they may ask questions on it for ID verification
Why do so many truck drivers have tax issues? Most are self employed so no tax withheld. I find that usually their costs end up being more then they plan for (gas, repairs) and then they don’t enough money for estimated tax payments.
#trucking
#taxtwitter
@DonCooley
Not worth the time of day. When you go to the doctor, why do they ask you for your insurance info before the exam. That is what I tell people that question this.
The IRS is aggressively revoking passports. Here is a trick to get your passport reinstated fast.
Apply for an OIC. You don’t need to qualify to do so but your application should allow you to get your passport reinstated.
#irs
#passport
@MikeSyl36625988
@anthonypricecpa
I recently did an offer in compromise for someone that owed over $500k and we were able to settle for $27,000, saving almost $470k for our client.
@JacobOberlander
@JStaatsCPA
If you need ACS, one trick is call pph with enq and ask to be transferred to ACS. You will go to the front of the line. Also you can upload your poa through the online system and the irs will have it on file in a day so it saves the time when u call
If you have delinquent (unfiled) tax returns, you are not In qualified payment plan. You may be making payments, but it’s still possible for the IRS to take collection actions against you. When you don’t file timely you automatically default on your payment plan.
#TaxTwitter
@loganallec
Optima is the worst. We do those on contingency basis. For non profits if you do a decent reasonable cause letter showing the penalty will affect the charity they are pretty good about releasing it, got a couple of big ones last year. No chance optima would have done that.
@RElblein
Estimate the time and value and look what other CPAs in your area charge. It’s trial an error. You will start to learn which clients seem to be simple but really are and vice versa.
How an accounting degree is not a 4 year degree is ridiculous. What’s worse is all the colleges encouraging kids to get their masters when they don’t need it. Straight money grab. They should focus on helping kids not stuffing their pockets
#taxtwitter
@bhallcpa
Drives me crazy seeing CPAs do IRS resolution work for free. It’s timely and high level work. Remember you can represent someone before the IRS without a license.
Lots of real estate brokers struggling with the high interest rate market. One positive, if they owe back taxes, now is a good time settle with the IRS bc their income is lower. The less you make the better the deal with the IRS.
#taxtwitter
@bhallcpa
The key is to show people the benefits, how it can help you a business person, have a good salary etc. so many benefits people are unaware of
Every week I get a person who’s being audited for fake expenses on their tax return. Basically they trusted their preparer, who was not a CPA or EA, and didn’t review. They were blinded by the refund. If someone is promising a big refund, run far away.
#TaxTwitter
@ufsguy
@LorilynWilson
@DebFoxFinancial
With tax audits you are guilty until proven innocent. We find more success taking our audits to appeals with a settlement officer. Easier to deal with and better outcomes.
Staggering fraud allegations.
In total, Leon Haynes is accused of preparing and filing at least 1,387 false Forms 941 claiming a total of $124,751,995.08 in fraudulent tax refunds.
#ERC
#tax
via
@forbes
@LoganGrafTax
If you are working 7 days a week you need either more staff, better time management or to raise your fees and get rid of some clients or all of the above
@SMB_Attorney
Very few make partner. Most wind up in the $250-500k range there or somewhere else. Lots of people in mid tier firms/at least in the nyc area catch up or surpass. A lot of the regional schools have great networking/support.
@jeffpearlman
Plenty of white people grow up poor and/or difficult situations. Believe it or not some minorities also grow up rich. The ruling says they look at someone’s experience not just the color of their skin.
@LoganGrafTax
I focus on tax resolution but I have always had an admin. Now we have 4. There are so many affordable options. So much of tax is entering basic info. They can do that plus more. Start with virtual part time and go from there it will make your life so much easier
@GovMurphy
It was Palestinians killing there own people. Please call out the terrorists that did this. There is video proof even the president said so.
@BlakeTOliver
@AcctPod
If you love tax just go for the EA. I am CPA but if I knew I would end up pursuing a career in tax I would have just gone for the EA license. Would have saved a lot of time and money. Highly recommend it for people who know they want to focus on tax!
Good organization may not cut your taxes. But there are other rewards, and some of them are financial. For many, the biggest hassle at tax time is getting all of the documentation together.
#jldtax
#accountant
#taxes
#taxtips