McFarlane Law

A Tax Law Firm - 480.991.0032

Beware: The IRS is Sending Important Notices with Bad Dates

Several of my clients received IRS Notices with due dates that already expired by the time I received the Notices because the mail date stated on the Notices was months ago-this despite being recently mailed!! The pandemic shutdown really messed things up with all agencies. (more…)

The IRS Has Been Sending Notices with Bad Dates

Taxpayers need to keep a careful eye on their IRS Notices. Many IRS Notices, many with statutory deadlines were dated during the IRS shut-down due to COVID-19, but not immediately mailed. Consequently, there are many IRS Notices with expired action dates. (more…)

I Owe Past Due Taxes. Can the IRS Take My $1200 Economic Impact Payment?

Generally, the answer is no. The exception is if the taxpayer owes child support arrearages.

Under the CARES Act guidelines and subsequent direction, Economic Impact Payments/recovery rebates/stimulus checks cannot be offset to pay any debt except child support.


Q: What if I cannot Pay my Taxes by the July 15 Deadline?

A: Taxpayers should file on time even if they cannot pay their full tax bill

You should file your tax return by the deadline even if they cannot pay the full amount due. Otherwise, you will be assessed a late filing penalty and end up owing even more. If you owe tax, but cannot pay by the July 15, 2020 deadline, you should: (more…)

The honeymoon is over – Part III

In previous blogs The Honeymoon is Over – It’s Time to Think Taxes! and It's Time to Prepare and File your 2019 Tax returns, I discussed the upcoming, looming tax return filing and payment deadline of July 15. You can extend the time to file, but not to pay – so budget accordingly.

Other extension, deffal or benefits bestowed to Taxpayers due to COVID-19 also expire July 15 or the end of this month. For example, federal IRS tax returns are due or can be extended to October 15. 2019 taxes are due. The $600/month supplemental unemployment payments end. The 2020 tax year estimated tax payments are due. And, anyone who had an installment agreement and deferred monthly payments must now resume those monthly payments or be found in default. (more…)

Do you have a foreign bank account or own an interest in foreign real estate or in a foreign entity?

The IRS continues its pursuit of “US Citizens” who own a foreign bank account, foreign real estate, interests in a foreign company, and other assets such as brokerage accounts with credit card access. They are looking for US Citizens with foreign based assets who fail to report the existence of those assets. (more…)

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