If you haven’t filed taxes in years, you need to act now before the IRS takes enforcement action. The agency can file substitute returns that overstate your tax liability, impose penalties up to 25% of what you owe, and levy your bank accounts or wages without further warning. Filing voluntarily before the IRS contacts you […]
A CP504 notice is the IRS’s final balance-due reminder and a formal notice of intent to levy. It means the IRS plans to seize your bank accounts, wages, or other assets if you do not pay your outstanding tax debt or make arrangements within approximately 30 days. This is not a routine reminder. It is
Got a CP504 Notice? You Have 30 Days Before the IRS Levies Your Bank Account Read More »
The IRS entered the 2026 filing season with roughly 74,000 employees, down from 102,000 at the start of 2025. That 27% workforce reduction is already affecting how the agency handles everything from phone calls to collections cases. If you’re currently dealing with an IRS problem, whether it’s an unpaid balance, an audit, or a pending
IRS Lost 27% of Its Workforce: Why Your Tax Problem May Take Longer to Resolve in 2026? Read More »
A practitioner’s guide to the 2025 IRS Collection Financial Standards—how the PCE update affects allowances, what counts under national vs. local rules, and when smart deviations stick. We cover housing, transportation, health care, the six-year rule, and Form 433 strategy. Need help modeling IA vs. CNC vs. OIC? Ed Parsons, CPA can review your numbers and package the exhibits.
Everything You Need to Know About the IRS Collection Financial Standards (2025) Read More »
The Collection Statute Expiration Date (CSED) is the clock that governs IRS collections. This Ultimate FAQ breaks down the 10-year rule, what tolls/extends it (Installment Agreements, Offers in Compromise, CDP/Form 12153, bankruptcy, overseas residence, innocent spouse, court custody), and how to read transcripts so you don’t gift extra time to the IRS. If you’re facing notices or levy risk, Ed Parsons, CPA builds a day-accurate CSED timeline, times actions to protect wages and accounts, and negotiates practical relief (IA/CNC/OIC/Appeals). Start now: https://edparsonscpa.com/contact/
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IRS CSED Ultimate FAQ Read More »
Got IRS Letter 566? You’re in a correspondence exam (audit by mail). This Ultimate FAQ shows exactly what to send, how to meet the 30-day clock, and how to avoid Letter 525/CP3219A with a clean, examiner-ready file. We cover HOH/EITC/AOTC/Schedule C documentation, Form 2848 representation, smart use of Form 872, Appeals strategy, and refund-hold pitfalls. If you want less stress and faster closure, Ed Parsons, CPA organizes your proof their way, negotiates timelines, and builds an Appeals-ready package from day one—so you can resolve the notice and move on with confidence.
IRS Letter 566 FAQ: Audit by Mail Guide Read More »
Opened LT11 (Letter 1058)? This Ultimate FAQ explains exactly what the Final Notice of Intent to Levy means, your 30-day CDP clock, and how to file Form 12153 correctly. You’ll see payment plan choices, CNC hardship, Offer in Compromise basics, wage/bank levy releases (Pub 1494), and CSED strategy—in plain English. If time is tight, Ed Parsons, CPA pulls transcripts, builds a bulletproof Form 433, and handles Appeals to halt enforcement. Free triage: https://edparsonscpa.com/contact/
The IRS CP40 notice means your unpaid tax debt has been assigned to a private collection agency. While CP40 doesn’t affect your credit directly, ignoring it can trigger escalating enforcement. Learn what this notice really means, how to verify legitimacy, and why professional CPA guidance makes the difference when collectors call.
CP40 Notice: Why Did the IRS Send Me to a Debt Collector? Read More »
Advanced DIY map to IRS transcripts: Return Transcript (original line items; no post-filing changes), Account Transcript (full transaction ledger—TCs, penalties, interest, refunds/offsets), and Record of Account (Return + Account, best for amendments). When to pull each, how to read codes (150, 806, 570, 846), and avoid reconciliation traps.
The Definitive (Advanced) Guide to IRS Transcripts – 2025 Read More »
Guía completa en español sobre los IRS Streamlined Filing Compliance Procedures (SFCP). Descubre conceptos erróneos comunes, hechos poco conocidos, diferencias entre Domestic Offshore vs. Foreign Offshore, y cómo manejar la penalidad del 5% con los formularios oficiales del IRS.
preguntas 2025 IRS streamlined filing compliance procedures Read More »