Law Office of Alexander Socia, P.A.

07/12/2019

An IRS Notice of Deficiency is a proposed increase in your taxes and a notice of your right to challenge that increase. It's also called a CP3219A letter. No one likes getting these notices. Who wants to be told by the biggest collection agency in the world, the IRS, that you owe them more money? Not me and not you. [ 619 more words ]

An IRS Notice of Deficiency is a proposed increase in your taxes and a notice of your right to challenge that increase. It’s also called a CP3219A letter. No one likes getting these notices. …

04/12/2019

You may be facing a trust fund recovery investigation because you didn't pay the 941 taxes. The IRS considers this a loan they didn't agree to. They don't like making loans. A trust fund recovery investigation is governed by the Internal Revenue Manual 5.7.4 Investigation and Recommendation of the TFRP. They are conducted by the revenue officer assigned to your case. [ 299 more words ]

You may be facing a trust fund recovery investigation because you didn’t pay the 941 taxes. The IRS considers this a loan they didn’t agree to. They don’t like making loans. A trust fund recovery investigation is governed by the Internal Revenue Manual 5.7.4 Investigation and Recommendation of...

03/09/2019

Trust fund taxes also called 941 taxes or employment taxes, must be withheld by an employer from an employee's wages or salary and timely paid to the IRS. You hold them on behalf of your employees, hence the trust fund categorization. If the trust fund taxes are not collected, accounted for and paid to the IRS, then the IRS may assess a trust fund recovery penalty against the person they deem liable. 349 more words [ 346 more words ]

Trust fund taxes also called 941 taxes or employment taxes, must be withheld by an employer from an employee’s wages or salary and timely paid to the IRS. You hold them on behalf of your employees, hence the trust fund categorization. If the trust fund taxes are not collected, accounted for and pa...

01/12/2019

So you just got notice that the IRS issued a summons to your spouse, a family member or someone you do business with such as a bank, supplier or client of yours. I bet your first response was embarrassment and your second response was fear. Both valid. The IRS can issue a third party summons "to a person other than the person with respect to whose liability or return the summons is issued, or any officer or employee of such person." The… [ 248 more words ]

So you just got notice that the IRS issued a summons to your spouse, a family member or someone you do business with such as a bank, supplier or client of yours. I bet your first response was embarrassment and your second response was fear. Both valid. The IRS can issue a third party summons ... Rea...

12/08/2018

So you are in trouble with the IRS and you see those commercials on TV and hear those radio advertisements telling you that they can settle your IRS debt for pennies on the dollar. Sounds good, right? Well, the truth is that the IRS rarely settles for pennies on the dollar. It can happen, I ... Read...

03/31/2018

Happy Easter 2018

01/01/2018

Happy New Years 2018 from the Law Office of Alexander Socia, PA

May you and yours have a prosperrous and grace filled 2018!