IRS Notice CP508C: What It Means and How Steve Perry, EA can Help

Steve Perry

Published on: 30/06/2025

IRS Notice CP508C means your tax debt has been certified as seriously delinquent and reported to the State Department, placing your passport at risk. This can affect international travel, employment, and licensing. Steve Perry, EA at Books Taxes & More helps taxpayers resolve these issues quickly through installment agreements, Offers in Compromise, or financial hardship programs. Steve reviews your IRS account, ensures accuracy, and advocates directly with the IRS to reverse the passport certification. Do not wait until your passport is denied or revoked. Contact Steve Perry, EA to resolve your tax debt and protect your travel freedom.

Tax education articles and IRS representation advice for individuals and small businesses

What To Do If You Can't Pay Your Bill

Steve Perry

Published on: 29/06/2025

- Tax season is often seen as a chore; some receive refunds, others face tax bills. - If unable to pay in full, the IRS offers options to manage debt, stressing the importance of timely filing to avoid severe penalties. - Payment plans include short-term (up to 180 days, no setup fee) and long-term (over 180 days, with fees unless waived); balances up to $50,000 can often be arranged online. - Currently Not Collectible (CNC) status pauses collections if paying would cause financial hardship, though interest and penalties continue. - An Offer in Compromise (OIC) allows settling tax debt for less than owed under strict qualification criteria, best handled by professionals. - Penalty abatement may be available for reasonable cause or first-time offenders to reduce penalties. - Beware of scams promising unrealistic debt reductions; professional advice is crucial to navigate IRS options effectively. - Early action and professional guidance from Books, Taxes & More can prevent escalating penalties, collection actions, and financial damage. - Contact Steve at Books, Taxes & More for personalized assistance and solutions suited to individual situations.

Tax education articles and IRS representation advice for individuals and small businesses

Navigating the IRS Appeals Process: Essential Guidance

Steve Perry

Published on: 28/06/2025

- The IRS appeals process offers taxpayers an impartial way to resolve disputes involving audits, penalties, collections, and other tax decisions without going to court. - Steve Perry, Enrolled Agent (EA) at Books, Taxes & More, expertly manages appeals by reviewing IRS notices, building strong protest cases, and negotiating effectively during appeals conferences. - Appeals over $25,000 require detailed protests with supporting documentation, while smaller cases may use simplified forms; strategic arguments align with tax law and precedents. - Perry skillfully negotiates using the IRS's litigation risk model and can escalate unresolved cases to Tax Court or refer to attorneys as needed. - Effective tax representatives combine tax knowledge, negotiation skills, strategic thinking, and IRS experience to advocate for the best outcomes. - Proper documentation is critical for validating tax claims, reducing penalties, speeding audits, and building defenses; key records include receipts, mileage logs, bank statements, income reports, and legal documents. - The IRS recommends keeping records for at least three years, longer in cases of underreported income, fraud, or property-related transactions. - As an EA, Steve Perry guides clients in organizing, maintaining, and reconstructing records, representing them before the IRS, and educating on documentation requirements. - With expert representation and thorough documentation, taxpayers are empowered to protect their financial interests and face IRS challenges confidently.

Tax education articles and IRS representation advice for individuals and small businesses

How long should a taxpayer keep records?

Steve Perry

Published on: 27/06/2025

- The IRS typically audits tax returns within three years of filing, but this extends to six years if over 25% of income is unreported and is unlimited in fraud cases. - Certain transactions like real estate sales or business asset depreciation may require keeping records beyond the standard period. - For example, a homeowner who takes a home office deduction must keep all related purchase, improvement, and sale documents until three years after filing the return that reports the home sale profit. - It is advisable to retain such records for at least seven years to ensure safety. - Keeping detailed receipts and documentation of property acquisition, maintenance, improvements, and sale is crucial to protect tax deductions. - Proper record-keeping prevents costly losses during audits or reviews by tax authorities. - For personalized advice on record retention, contacting a tax professional is recommended.

Bookkeeping