Articles by Logan Allec, CPA
If You Owe State Taxes Can They Suspend Your License?
Yes, if you owe state taxes, the state may suspend your driver’s or professional…
What Happens If You Owe the IRS More Than $50,000?
If you owe the IRS more than $50,000, the following nine things will happen:…
IRS Notice CP501: What It Is and How to Respond
IRS Notice CP501 is the 1st Notice of a Balance Due. Now, this is…
Trust Fund Recovery Penalty Explained by a CPA
If you have employees, you know — or you should know — that you are…
IRS Substantial Understatement Penalty Explained by a CPA
The IRS substantial understatement penalty is the penalty described in Internal Revenue Code Section…
IRS Penalty Abatement: How to Get IRS Penalties Waived
IRS penalties can be onerous, adding thousands of dollars to a taxpayer’s balance with the…
IRS Crypto Audit: What to Do When the IRS Sends You a Crypto Letter
Did you receive an IRS letter proposing a HUGE amount due on your cryptocurrency…
CP2000 Response Letter Sample
Below are various CP2000 response letter samples that we have submitted to the IRS…
How Much Interest Does the IRS Charge? IRS Interest Explained!
The IRS is increasing its interest rates beginning in October 2023! I’ll get into…
IRS Notice CP60: What It Is and How We Handled It For Our Client
Yesterday, our client received a CP60 notice from the IRS. It was for a…
What Happens If You Owe the IRS More Than $25,000?
If you owe the IRS more than $25,000, the following eight things will happen:…
What Is the IRS and What Does It Do? How Is It Organized?
The Internal Revenue Service (IRS) is a bureau of the United States Department of…
