IRS Tax Tips and Latest News

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Thinking of that Summer Job?

Whether you are a teacher or student, I would like to remind you of one fact.  Please adjust your W-4 form at your summer job accordingly.  It is always advisable to go with single and zero allowances, irregardless of your filing status.  Doing so, will most likely prevent you from owing the IRS in the future.

Jamie Dautrich, EA

www.rietaxservices.com

1-888-480-9995

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Thinking of filing form 4868 (Application for Automatic Extension of Time)?

Beware of the extension trap.  An extension merely provides an additional six months of time to gather all documentation needed to complete an income tax return.  While it will provide relief from a failure to timely file penalty, it will not give you more time to pay the tax owed.  A failure to pay penalty could still apply, even with an extension. This year full payment must be received by April 18th or June 15th (if out of the country).

Jamie Dautrich, EA

www.rietaxservices.com

1-888-480-9995

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Choosing a Tax Preparer

I wanted to share this information directly from the IRS.

Things to Remember When Choosing a Tax Preparer

Taxpayers should choose their tax return preparer wisely – with good reason. Taxpayers are responsible for all the information on their income tax return. That’s true no matter who prepares the return. Here are ten tax tips to keep in mind:

1. Check the Preparer’s Qualifications. Use the IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications. This tool helps taxpayers find a tax return preparer with the qualifications that they prefer. The Directory is a searchable and sortable listing of preparers with a credentials or filing season qualifications. It includes the name, city, state and zip code of:

Attorneys.

Certified Public Accountants.

Enrolled Agents.

Enrolled Retirement Plan Agents.

Enrolled Actuaries.

Annual Filing Season Program participants.  

Attorneys, CPAs and enrolled agents can represent any client before the IRS in any situation. Annual Filing Season Program participants may represent clients in more limited situations. Non-credentialed preparers who do not participate in the Annual Filing Season Program may only represent clients before the IRS on returns they prepared and signed on or before December 31, 2015.

For more information, check the Understanding Tax Return Preparer Credentials and Qualifications page.

2. Check the Preparer’s History. Ask the Better Business Bureau about the preparer. Check for disciplinary actions and the license status for credentialed preparers. For CPAs, check with the State Board of Accountancy. For attorneys, check with the State Bar Association. For Enrolled Agents, go to IRS.gov and search for “verify enrolled agent status” or check the Directory.

3. Ask about Service Fees. Avoid preparers who base fees on a percentage of the refund or who boast bigger refunds than their competition. When inquiring about a preparer’s services and fees, don’t give them tax documents, Social Security numbers and other information. Some preparers have improperly used this information to file returns without the taxpayer’s permission.

4. Ask to E-file. Taxpayers should make sure their preparer offers IRS e-file. Paid preparers who do taxes for more than 10 clients generally must file electronically. The IRS has safely processed billions of e-filed tax returns.

5. Make Sure the Preparer is Available. Taxpayers may want to contact their preparer after this year’s April 18 due date. Avoid fly-by-night preparers.

6. Provide Records and Receipts. Good preparers will ask to see a taxpayer’s records and receipts. They’ll ask questions to figure the total income, tax deductions, credits, etc. Taxpayers should not use a preparer who will e-file their return using their last pay stub instead of a Form W-2. This is against IRS e-file rules.

7. Never Sign a Blank Return. Don’t use a tax preparer who asks a taxpayer to sign a blank tax form.

8. Review Before Signing. Before signing a tax return, review it. Ask questions if something is not clear. Taxpayers should feel comfortable with the accuracy of their return before they sign it. They should also make sure that their refund goes directly to them – not to the preparer’s bank account. Review the routing and bank account number on the completed return.

9. Ensure the Preparer Signs and Includes Their PTIN. All paid tax preparers must have a Preparer Tax Identification Number (PTIN). By law, paid preparers must sign returns and include their PTIN.

10. Report Abusive Tax Preparers to the IRS. Most tax return preparers are honest and provide great service to their clients. However, some preparers are dishonest. Report abusive tax preparers and suspected tax fraud to the IRS. Use Form 14157, Complaint: Tax Return Preparer. If a taxpayer suspects a tax preparer filed or changed their return without the taxpayer’s consent, they should file Form 14157-A, Return Preparer Fraud or Misconduct Affidavit. Taxpayers can get these forms on IRS.gov any time.

Jamie Dautrich, EA

www.rietaxservices.com

1-888-480-9995

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Working From Home?

You’ve decided to start a small business working out of your home. Life is great and you can’t beat the commute. Now, how will this affect your income taxes? Can you deduct expenses for use of your home? The answer is that it depends…on a lot of things.

First of all, the business must be for profit or an expectation of profit. Next, you must set aside an area that is used exclusively for this business. Perhaps you’ve set up a room with a desk, computer, file cabinets, and storage for your product. Use the room entirely and exclusively for business purposes and it will be deductible. Beware, however, that as soon as you add a sofa bed in the corner for your in-laws to use when they come to visit, the space is no longer exclusive and you lose the deduction.

What is eligible for a deduction? This is where the math comes in. You must determine the total square footage of your home and the total square footage of the office. Example: Total house is 2000 square feet and the office area is 200 square feet. This will give you a 10% office usage equation. You will then be allowed to deduct 10% of your costs for the upkeep and maintenance of your home which includes insurance, taxes, mortgage interest (or rent if you do not own), electricity, gas, and repairs for the entire house. Additionally, you can take specific fix-up and maintenance costs in full if they are solely for the business space.

Also available is a deduction for depreciation on the home. To determine this figure, use the cost of the house, less the value of the land, and depreciate this value over 39 years (commercial use value). When you sell the home, you must make an adjustment for the amount of the depreciation taken. This depreciation adjustment is recaptured on your tax return at the 25% tax rate.

Be sure you fully understand the home office deduction and subsequent depreciation recapture before using it. Rules for the home office deduction can be tricky; therefore it is wise to get professional tax help from an enrolled agent, America’s tax expert.

Jamie Dautrich, EA

www.rietaxservices.com

1-888-480-9995

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Received an IRS Notice?

You’ve just picked up your mail and … uh oh, there among the ads, bills and too numerous offerings for credit cards is that official looking letter from the Internal Revenue Service. A feeling of dread comes over you…but don’t panic or toss it, and please DO open it. It might even be good news.

Usually, mail from the IRS is a notification that they need verification of documents or substantiation of an amount you have claimed on your tax return. Read the letter thoroughly. Determine what they are looking for, and then provide the information. Some of the most commonly missed items on a return are simple things: you forgot to sign the 1040; you didn’t attach W-2’s and required statements; if you’re paying quarterly, maybe you claimed the wrong amount as estimated tax; or, perhaps the income you listed doesn’t match the figure that was reported to the IRS on a Form 1099 by someone who paid you during the tax year.

If you have the correct information, it’s a simple matter to fix. Make copies of your documents verifying the information on your return and send the copies back to the IRS along with a copy of the letter they sent to you. If, in fact, you didn’t include an amount on your return that should have been there, sign the form agreeing to the change and send them a check for the amount of tax due by the deadline date given for compliance. Usually, penalties and interest will be added—so, the sooner you comply, the less it will cost.  

If your IRS letter advises you that your return has been selected for audit, you would be wise to seek professional advice. If you used a tax professional to prepare your return, such as an enrolled agent (EA), CPA, attorney or registered tax return preparer, you should contact that person for help with the audit. If you prepared your own return, you may wish to contact an enrolled agent immediately. Enrolled agents are authorized by the U.S. Treasury Department to represent taxpayers before all administrative levels of the IRS for audits, collections, and appeals.

Now you’re thinking, what about that possible good news mentioned earlier? It could be that the notice is for an unexpected refund, of course. Now, open that letter!

Jamie Dautrich, EA

www.rietaxservices.com

1-888-480-9995

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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End of the Year Tax Highlights

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Solace for the Non-Filer

Has it been awhile since you filed a tax return? Feeling guilty? Scared? Don’t know what to do? Do you even need to file?

Many people become non-filers each year for a number of reasons. They lose the paperwork, they couldn’t pay, or they forgot about it. Sometimes illness, family crisis or depression plays a role. The list goes on and on.  

If you are a non-filer, don’t procrastinate any longer. You may be hoping the IRS has forgotten about you, but that rarely happens. In truth, the longer you wait, the more costly it will be if you owe money. And if you are due a refund, the statute of limitations on that refund expires three years from the date the return should have been filed. Don’t risk losing your money.

It’s not uncommon to feel overwhelmed when you haven’t filed for a while, but don’t despair. Lost paperwork can be reconstructed. If you owe, it’s better to file and negotiate an installment agreement because this will stop the late filing penalties although interest will continue until the tax bill is paid. Sometimes, penalties can be abated if the circumstances are serious, such as family crisis, illness or other catastrophic situations.

Contact a tax professional to help you get the monkey off your back. An enrolled agent (EA) is licensed by the Treasury Department to represent clients who have problems with tax filing and with the IRS. EAs must pass a rigorous three-part exam to act on a client’s behalf and can help to get taxes filed, negotiate an installment agreement for those who can’t pay in full or, possibly, negotiate an offer in compromise to reduce taxes, penalties and interest. Don’t wait for the IRS to come looking for you; it’s far better to voluntarily come forward.

Every U.S. citizen and resident is required to pay his or her fair share of taxes. No more, no less. The IRS has a matching program whereby all 1099s, W-2s, etc., are entered in their computers. They match this information with the tax returns that have been filed to ensure that all income has been reported and that everyone who is legally required to do so has filed a return. So, if you haven’t filed for whatever reason, get moving before the IRS comes looking for you!

Jamie Dautrich, EA

www.rietaxservices.com

1-888-480-9995

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Staying Off the IRS Radar

Nothing strikes terror in the heart of the American taxpayer quite like finding a letter in the mailbox from the IRS! In an effort to help you avoid that unpleasant scenario, provided below are examples of some common pitfalls to avoid if you don’t want the IRS lining up to be your new pen pal.

It’s surprising how many people mail their returns to the IRS without a signature. Before mailing, be sure to recheck everything and don’t forget to sign your return. An even better solution is to file electronically. Returns filed electronically have safeguards and controls to eliminate common errors. Additionally, the return goes directly to the processing center and the information does not have to be keyed into a computer by an IRS employee, which could result in additional errors.

Did you remember to include all income on the return? If you received a Form 1099 from anyone, be sure this income is on the return in the right place or you will receive a notice. Even if you did not receive a 1099 for work done independently, you are required to report the income. IRS receives copies of 1099s from banks, stock brokerage firms, rental agencies, and subcontractors and these are checked against income reported.

If you made estimated payments or paid your taxes quarterly, check the amounts and the dates the taxes were paid. Forgetting to include a payment is a frequent error that makes your tax burden look heavier. Many people forget to include the January payment, so keep in mind that the first payment of the year is sent in April, followed by June and September payments and concluding with the January payment in the following year.  

If you file or pay late, you will receive a notice of delinquency and be charged interest and penalties, so try hard to avoid that. If you can’t pay taxes that are due by April 15, be sure to file the return on time with a Form 9465, Installment Agreement Request, either electronically or paper filed.

Incorrect social security numbers will generate a notice or a dis-allowance of your dependents. Don’t mail the return without verifying that all social security numbers have been entered correctly. Transposing those numbers is more common than you’d think.

A few minutes of extra time reviewing your return will pay off in peace of mind and help you stay off the IRS radar screen.

Jamie Dautrich, EA

www.rietaxservices.com

1-888-480-9995

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Tis the Season to be Giving

Face it, you’ve been putting it off all year. Maybe you have to turn sideways to get in the storage room or have given up on parking your car in the garage. Well, it’s the end of the year and now you have a big incentive to clean out all that stuff! You could get a tax deduction for it.

If you itemize your deductions (use Schedule A), Uncle Sam will give you a bonus – a deduction on your tax return for donating all that stuff to a charity. This could result in a larger refund for you, but there are a few simple rules you must follow to benefit from this tax break.

First, the charity must be recognized as an exempt charitable entity. Qualifying are churches, schools, Red Cross, Amvets, Scouts, Salvation Army, Disabled American Vets, public libraries, etc. If in doubt, ask the organization or check the IRS website at IRS.gov.

Second, make sure you get a receipt from the charity for the donation. You’ll need it as proof of your donation. If your total non-cash donations are less than $500, you can list the amount on Schedule A. If more than $500, you are required to attach Form 8283 with the following information:

Make a list of the items you are donating to attach to your receipt. (Keep this receipt with your records – do not send in). Form 8283 asks for date of purchase (can be various) and the date of the gift, the name of the charity and a list of the items donated.  Additionally, you must indicate how you determined fair market value. Cost is what you originally paid for the items and value is what you could have sold it for at a thrift shop or garage sale.

Think of all those kitchen appliances no longer used; old toys the kids have outgrown; clothes that don’t fit or are out of date; books, tools, games, furniture and anything else you no longer want. It is fairly easy to rack up $1000 in fair market value resulting in an additional refund of $250 if you are in the 25% tax bracket. Remember that clothing must be in above average condition – no old socks, underwear and soiled clothes you used for painting!  So, get busy – get rid of the extra stuff, simplify your life and enjoy that larger refund!

Jamie Dautrich, EA

www.rietaxservices.com

1-888-480-9995

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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The Best Tax Shelter Around?

If you’re a homeowner, Uncle Sam has thrown you a tax shelter that’s beyond compare. You may deduct the mortgage interest paid on your annual tax return and deduct the property taxes on your Schedule A. If you don’t currently own a home, this tax benefit is significant enough to make you look seriously at home ownership.

“Points”

The concept is simple, but it starts to get a little more complicated when you add in “points.” Points are one type of fee paid at closing to your lender. If you pay points when you buy your new home, these may be deducted in full in the year of purchase. However, if you refinance your loan, the points must then be deducted over the life of the new loan. In the event you are deducting points annually and then decide to refinance again, you will be able to deduct the balance of the points when you pay off the old mortgage. Of course, all these deductions are based on being able to itemize your deductions on Schedule A.

There are some limitations.

Points must not be more than amounts generally charged in your area.

Funds provided at closing must be at least equal to the points.

Loan must be used to buy or build taxpayer’s main home.

Points are stated as a percentage of the principal amount of loan.

Points are clearly stated on the settlement statement as charged for the mortgage.

Predictably, there are limits on mortgage interest deduction. Only the interest on the first $1 million of home acquisition debt is deductible. (Acquisition debt is defined as debt to purchase, build or substantially improve the residence.) Home equity debt limits are the lesser of the fair market value of the home reduced by the acquisition debt or $100,000 ($50,000 if married filing separately).

Probably the greatest advantage of home ownership occurs when you decide to sell your home. If you have owned and lived in your personal residence for two out of five years, you can sell the home and not be taxed on a profit up to $250,000 for singles and $500,000 for couples. The way home values have decreased in recent years, this may seem like a far-off opportunity. However, home sales are on the rise in much of the country. This rule seems very straight forward and simple, but beware! There are a number of exceptions.

Job related move—if you have to move out of your area (a 50-mile radius), and are unable to meet the two year time period, you can prorate the time based on a formula utilizing a ratio consisting of the number of days that you owned and lived in the home to the total number of days in the relevant 24-month period (approximately 730), multiplied by the exclusion amount.

Health problems requiring a sale—if health problems force you to move from your principal residence, you can prorate the time and exclusion based on the formula above.

Ideally, a couple that kept good records of time of ownership could buy and live in a home for two years, sell for a profit and then repeat this process. Still, there are a number of pitfalls that cause tax problems, such as the special rules surrounding home offices and move out/rent/return situations that effect the two in five requirement (this involves adjusting for depreciation recapture). Given the many regulations and nuances of the tax laws, many people opt to hire a licensed tax practitioner, such as an enrolled agent.

Jamie Dautrich, EA

1-888-480-9995

www.rietaxservices.com

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Affected by Hurricane Matthew?

If you are in the following areas and have not filed your 2015 personal income tax return.

 North Carolina: Beaufort, Bertie, Bladen, Brunswick, Camden, Carteret, Chowan, Columbus, Craven, Cumberland, Currituck, Dare, Duplin, Edgecombe, Gates, Greene, Harnett, Hoke, Hyde, Johnston, Jones, Lenoir, Martin, Nash, New Hanover, Onslow, Pamlico, Pasquotank, Pender, Perquimans, Pitt, Robeson, Sampson, Tyrrell, Washington, Wayne and Wilson counties.

South Carolina: Beaufort, Berkeley, Charleston, Colleton, Darlington, Dillon, Dorchester, Florence, Georgetown, Horry, Jasper, Marion, Orangeburg and Williamsburg counties.

Georgia: Bryan, Camden, Chatham, Glynn, Liberty and McIntosh counties.

Florida: Brevard, Duval, Flagler, Indian River, Nassau, St. Johns, St. Lucie and Volusia counties.

The IRS is extending your due date to March 15, 2017.  Any relief worker that is working within these areas may also contact the IRS for additional help in preparing their 2015 income tax return.  Please also note that if you have suffered uninsured or unreimbursed losses, you may be able to claim them as well.  Reference IRS publication 547, for information pertaining to deducting losses.

Jamie Dautrich, EA

1-888-480-9995

www.rietaxservices.com

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Extensions and Penalties

An individual income tax extension is perfect for those that may need the additional time to prepare their IRS income tax return and do not want to face the dreaded failure to file penalty.  However, filing an extension does not extend the time to pay, should you owe.  You would still be responsible for interest and possibly a failure to pay penalty from the final day to file (usually April 15th).

Jamie Dautrich, EA

1-888-480-9995

www.rietaxservices.com

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Beware of the 1098T.

If your child is enrolled in a university or trade school, he or she may be receiving a 1098T.  This form is used to claim educational expenses on income tax returns.  In terms of fraud and audits, this is a huge problem area for the IRS and taxpayer. 

Once received, please confirm the amounts paid on the 1098T with the child’s school.  It is important to note, only PAID amounts may be deducted on a personal income tax return.  Many people have been audited due to the fact that they had claimed the amount billed for and not paid. Justification for this amount, may come from the student’s school, in the form of checks paid and credit card or student loan charges. 

Jamie Dautrich, EA

1-888-480-9995

www.rietaxservices.com

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Disaster Preparedness

For those of you that could be in the path of Hurricane Matthew or any other natural disaster, I would like to remind you of a few items:

Please document your valuables before leaving your house.  The IRS provides a guide for documentation here. It also a good idea to photograph or videotape all of your valuables.

Please secure important documents such as bank statements, insurance polices and income tax returns on a USB flash drive or CD/DVD’s in a waterproof container.

You can request back of copies of tax returns and W-2′s here.

In case of a federally declared disaster area, you may call the IRS at 1-866-562-5227 to speak to a specially trained specialist.

Jamie Dautrich, EA

1-888-480-9995

www.rietaxservices.com

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Self-Employed and on an Installment Agreement?

If you are self-employed and on an installment agreement, are you making estimated payments?  If you have just reached an agreement with the IRS and do not make estimated income tax payments, you may be facing the consequence of defaulting on your current agreement.  The IRS simply does not include the next year that you owe income taxes (should you owe) into your agreement and will cancel your installment agreement, unless a new one is agreed upon. 

It is very important to project your income correctly and send estimated tax payments.  Even if you are not on an installment agreement, estimated payments should be made.  It is easier to pay less of a tax bill (quarterly) than a huge bill that accumulates a fair amount of interest.

Jamie Dautrich, EA

1-888-480-9995

www.rietaxservices.com

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Did You Just Receive a CP2000 Notice?

One of the most popular notices the IRS sends out is called the CP2000. It is a form to notify the taxpayer that their income or payment information does not match the IRS system.  This notice could increase/decrease or not change your tax liability.  

If this notice is received, I urge you to read it carefully.  If you disagree with the changes, you must indicate so.  I also urge you to review your information and past income tax returns to make sure the error has not occurred in the past.  If you are unsure, please reach out to your tax preparer or a licensed tax professional for advice.

Jamie Dautrich, EA

1-888-480-9995

www.rietaxservices.com

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.

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Don’t Fall Victim to a Tax Scam

In recent weeks, there has been an email floating around stating that a taxpayer may owe money to the IRS because of the Affordable Care Act (ACA).  This notice is called a CP2000 and is one of the most common notices sent out by the IRS. HOWEVER, this is a scam.  The IRS does not email notices, it will send them out to the last known address on file.

Secondly, if you receive a call supposedly from the “IRS”, this is also a scam.  Never give your social security number or payment information over the phone to these criminals.  Unless, you are working with an auditor and know the person, the IRS never calls and requests information over the phone.

I urge all taxpayers to please be vigilant and to protect your personal information.

Jamie Dautrich, EA

1-888-480-9995

www.rietaxservices.com

RIE Tax Services, LLC offers comprehensive tax services to individuals and small businesses. It also provides consulting services to small businesses and property renters. RIE Tax Services, LLC provides comprehensive tax services including returns for Individuals and Sole Proprietorships. Mr. Dautrich handles complex business and personal tax issues including bankruptcy filings, divorce and back tax relief.