A Deep Dive into IRS Notice CP 504: What It Means and How to Respond
If you've received IRS Notice CP 504, you're entering a critical phase of tax collection. This notice is a "Final Notice of Intent to Levy," meaning the IRS plans to levy your state tax refund and may take further actions such as wage garnishment or property seizure if the tax debt is...
$172 Million Recovered from Wealthy Non-Filers: What It Means for High-Income Taxpayers
The IRS is cracking down on wealthy taxpayers who haven’t filed their tax returns since 2017. In the first six months of a new initiative launched under the Inflation Reduction Act, the IRS recently accounted it has recovered $172 million from 21,000 high-income earners. The focus is on individuals with incomes between...