Tuesday, June 2, 2009

Are You In Tax Compliance?

What does being tax compliant mean?- Filing all required tax returns (Business or Individual) for the years 2001-2006-Paying your taxes (Business-income,payroll,excise) (Individual-income,payroll,excise)-Being current on your tax payments (Business -estimated and federal tax deposits) (Individual -estimated taxes)

What does "Due Process"mean? Following legal procedures set forth in the IRS for assessing additional tax liability. Notice (i.e. CP 2000 or an Audit Report) (Form 4549).*30 Day letter (for to exercise internal appeal rights)*90 Day letter (for Taxpayer to exercise appeal to the US Tax Court)- Certified Mail!!!!A Tax Consultant can help you better understand the nuances of the collection process.

1 comment:

footbolito17 said...

i have a friend who is in that situation before...

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