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The IRS to implement the Simple Notice Initiative

On January 23rd, the IRS released communication IR-2024-19 which provide more details on their Simple Notice Initiative. The IRS releases around 170 million notices / letters each year to taxpayers and the IRS wants to make it easier for the taxpayer to understand them, and hopefully reduce the number of follow up calls and communications

By |2024-01-24T18:18:21+00:00January 24th, 2024|Categories: Business, Individuals|Tags: , , , |

More notice of deficiencies in circulation and potential last resort, U.S. Tax Court

Over the summer and until now, we have observed a higher number of Notices of Deficiencies from the IRS in forums, colleagues discussions and through clients' consultations. This trend seems in line with other tax authorities at the State and Local levels (i.e. Philadelphia) were they put on hold the automatic notices and some collection

By |2023-11-17T17:43:10+00:00November 17th, 2023|Categories: Business, Individuals|Tags: , , , , , , , , |

IRS release a notice of adjustment for $29 billion to Microsoft

The IRS is requesting around $28.9 billion in taxes for the period from 2004 to 2013. The subject is related to transfer pricing issues to shift profits from a higher taxable jurisdiction to a lower taxed one, such as Puerto Rico. Daniel Goff, Microsoft Corporate Vice President, Worldwide Tax and Customs, has wrote a blog

By |2023-10-13T13:36:49+00:00October 12th, 2023|Categories: Business|Tags: , , , , , , , , , |

What to do when you get an IRS notice

Our advice to our clients is to provide us the notice from the tax authority as soon as they receive it, so we can review it, check your tax returns and other tax records and either explain in plain English the letter to the taxpayer or reply to the IRS notice. In some cases, we

By |2021-08-20T11:46:01+00:00August 18th, 2021|Categories: Individuals|Tags: , , , , , , , , |

Received a CP59 IRS notice for non filing 2019 return? IRS has not caught up processing yet

The IRS sent earlier February notices to around 260,000 taxpayers as they have not filed their 2019 federal tax return. However, the IRS has not yet processed all 2019 returns so it is asking to disregard this letter. Keep in mind that certain IRS processes are taking significantly longer than expected, so please, review the

By |2021-03-02T04:26:18+00:00March 2nd, 2021|Categories: Individuals|Tags: , , , |

Receiving tax notices? There is a significant backlog and incorrect notices are sent out

In the last weeks, we noted a significant increase in the notices received by our clients as there seem to be a backlog in the tax authorities. In some cases, the system automatically sends out a notice even if the documents and support was already provided to the tax authorities almost a year ago. Address

By |2021-01-05T10:47:40+00:00September 1st, 2020|Categories: Individuals|Tags: , , |

PPP – Expense deductibility supported by legislators

As expressed in our previous post titled " Deduction of PPP expenses? IRS Notice 2020-32 says no, but it might change " from May 2020, we mentioned that the legislators were planning to introduce legislation to allow the deductibility of expenses covered with PPP funds. After the IRS issued Notice 2020-32, several legislators commented that the IRS

By |2021-01-05T11:14:26+00:00August 4th, 2020|Categories: Business|Tags: , , , |
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