$94,616 Tax Debt Settled for $5,641
Represented taxpayer who owed the IRS over $94,616. Tax debt was reduced to $5,641 through an accepted offer in compromise.
Streamlined Domestic Offshore Procedures (South Africa)
A U.S. citizen (“Client”) held bank accounts, pension accounts, and annuity accounts in South Africa in excess of $10,000 for over 10 years. Client was not aware of their U.S. tax reporting requirements for foreign assets and never reported taxable foreign income on their U.S. tax returns. Client also failed to file FinCEN Form 114 Report of Foreign Bank and Financial Accounts (FBAR). DeWitt Law represented Client before the IRS…
$163,936 CP2000 Assessment Reversed to $0
Orlando, Florida – Taxpayer received IRS Notice CP2000 proposing additional tax of $163,936, based on income reported to the IRS on Form 1099-S from the sale of Taxpayer’s residential property. DeWitt Law represented Taxpayer and challenged the assessment with the IRS, resulting in the assessment being reversed to $0.
Notice of Deficiency: Your Ticket to U.S. Tax Court
What is a Notice of Deficiency? A Notice of Deficiency issued by the IRS serves as a taxpayer’s final notice of additional tax owed. The notice is generally issued after the IRS audits a taxpayer and proposes changes to a tax return. More importantly, a Notice of Deficiency is a legal document that allows a taxpayer to challenge the IRS in U.S. Tax Court without having to first pay the additional…
2022 Military State Tax Guide
The American Bar Association Tax Tax Section published its 2022 Military State Tax Guide, featuring contributions from Attorney & CPA Tyler DeWitt. The guide covers state income tax topics and issues especially relevant for members of the military. You can view the guide by clicking the link below. 2022 Military State Tax Guide (February 2022)