Archive for May 2022

The IRS “What Ifs” for Struggling TaxpayersFor the next several weeks, we will be discussing the IRS “What Ifs” for StrugglingTaxpayers.People facing financial difficulties may find that there’s a tax impact to events such as jobloss, debt forgiveness or tapping a retirement fund. For example, if your incomedecreased, you may be newly eligible for certain…

IRS Suspends Mailing of Various Letters (Part XI) IRS Business Notice CP518 Suspended (CP618 in Spanish) This is a final reminder notice that the IRS still has no record that you filed your prior tax returns. What you need to do If the IRS does not hear from you You may want to (IRS Notice…