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“WE ARE YOUR SAFETY NET, AND WE WILL CATCH YOU.”
Together, We Will Reach New Heights
Conrad Anker, a well- known rock climber, once said, “The summit is what drives us, but the climb itself is what matters.” It’s all about the obstacles, adversity, and struggles that we overcome on our way to the top. It’s about the setbacks that we turn into giant wins and the lessons we learn along the way. It’s how we connect with nature, or others around us, and how we learn about ourselves, the environment, and society on the way up.
WWW.IRSTROUBLESOLVERS.COM With us on your side, you can have peace of mind knowing that as we navigate your case and work with the IRS, it will be a climb, and there may be some rough patches, it may rain, and you might stumble a bit, but we are your support. We know how to communicate, counter, and respond to the IRS. No matter what problem you are having, we have seen it before and we know how to help. Your climb may take some time, but it’s much easier with us on your side. Together, we will climb the mountain and reach the top. And I promise, when you look down from the top, the liberation will have been well worth the climb! -Ben Golden When you’re dealing with the IRS, it really is just like climbing a mountain — you have a large feat to overcome. But when you have IRS Trouble Solvers on your side, we are your rope and harness. We are your safety net, and we will catch you. So, instead of worrying about falling, you can focus on climbing and overcoming that adversity. You can keep your eyes on reaching the top and getting out of “IRS trouble.” But, let me tell you — those rock-climbing attractions at fairs, malls, and kid’s arcades are a blast. They’re one of my favorite pastimes. It’s always a great time racing a buddy or your kid through the obstacles and watching each other scramble to ring that bell at the very top first. I don’t always win, but I sure do try. But here’s the thing about either real mountains or the figurative mountains we create in our minds when we set out to achieve new goals and reach new heights: If you miss your footing or stumble a little bit, you may come tumbling down to the bottom. That’s why I only stick to these attractions — they have a rope and you’re strapped in. If you fall, they will catch you. You don’t have to worry about getting hurt, or worse, a disaster.
On Aug. 1, we celebrate National Mountain Climbing Day. It’s a time to recognize those who have attempted great feats and reached new heights, and we all have mountains that we’ve climbed, whether they are career advancements, overcoming a fear, achieving a goal, or literally climbing a mountain.
AUGUST 2023
I’m not much of a climber … in fact, if I’m being honest, I’m worse than amateur.
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S CORP, C CO
DON’T LET THE BUGS BITE
Did you know that the IRS can certify your passport if you have seriously delinquent tax debts? This law was put on “pause” during COVID-19 and suspended certain collection activities (including passport certification) in March 2020. In March 2021, the IRS resumed notifying the Department of State when taxpayers fall behind on their taxes. What does it mean to certify your passport? If the IRS certifies your passport, this means that you owe more than $55,000 in past-due taxes, penalties, and interest, a levy has been issued, a notice of federal tax lien has been filed, and all administrative remedies under Internal Revenue Code Section 6320 have lapsed. If you meet the criteria, the U.S. Department of State may either revoke your passport, deny applications for a passport, or limit your passport only to return travel to the U.S. IRS PASSPORT CER And How Do You Get It Lifted?
Summer Tips for Insect-Free Fun!
August is the last full month of summer, which means bugs are at their pesky peak. If you and your family love to get outside in the summertime, protecting your family from bug bites is about more than their itchy aftermath.
Bugs can carry many diseases that put you, your family, and your pets at risk. For example, mosquitoes and ticks can transmit the West Nile virus, while ticks can spread Lyme disease, Rocky Mountain spotted fever, anaplasmosis, and much more — including causing alpha-gal syndrome (AGS), which is a life-threatening allergic reaction.
How can you reverse an IRS passport certification? Once your tax debt either becomes legally unenforceable or is paid, the IRS will lift the certification. If you are unable to pay the
So, if you and your family find yourselves outside this summer, here are some tips to keep those creepy-crawlies at bay.
Cover up! One of the most straightforward ways to ensure no one gets bitten by a bug is to cover any exposed skin when outside. If you can, wear long-sleeved shirts, full-length pants, tall socks, and closed-toe shoes, especially when hiking or camping. And if you can, tuck your pants into your socks or shoes to prohibit anything from crawling up your legs. Choose your outdoor time wisely. Mosquitoes are most active in the early morning and late evening, so avoid going outside during dawn or dusk if possible. Use insect repellents. One of the most effective ways to keep bugs from biting is to use some form of bug repellent. Today, many people opt for non-spray repellent alternatives like repellent patches, wristbands, or clip-ons, many of which work great.
delinquent lump sum, once you and the IRS enter into an installment agreement to pay the amount owed, the certification will be lifted. Some other reasons
Raspberry and Fig Oat Bars
The type of repellent isn’t as important as whether it contains one of these main ingredients:
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Lemon-eucalyptus oil
Citronella oil (combined with thyme for ticks)
Picaridin
Diethyltoluamide (DEET)
Get rid of any standing water near your house. Mosquitoes use stagnant water to lay their eggs, so any filled buckets, partially filled kiddie pools, broken fountains, or even discarded toys that have collected water can all attract mosquitoes to your yard. Routinely check your yard and dump out any water you find.
Inspired by Delicious.com.au
Lastly, be sure to thoroughly check for bugs on both your family and your pets before ever setting foot inside!
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ORP, OR LLC RTIFICATION 101
WIN OF THE MONTH Nobody Is Immune to an IRS Audit CASE SNAPSHOT Client: CPA in Texas Type of IRS Issue: IRS Error Tax Years in Question: 2017, 2020, 2021 IRS Claimed Liability: Full Disallowance of Refunds and Credits Savings: $35,587.29 It’s important to keep in mind that anyone can potentially be audited by the IRS. Our client, a certified public accountant (CPA) in Texas, found herself in a sticky situation. She was being audited by the IRS — a situation that is both nerve-wracking and stressful. She had a tax credit that was disallowed from an amended return, and the IRS opened an audit for three years and requested substantiation for all expenses, credits, income, capital gains, and losses over that time period. Understandably, this was a massive undertaking, and our client simply didn’t have the time to pull together all of the information, especially while navigating the ins and outs of her career. Distraught, she found herself on our doorstep and hired us to prepare the audit response and argue the legitimacy of her expenses and credit. Because she is a CPA with excellent organizational skills and a solid foundation in finances, our client kept meticulous records, and we were able to tie back the expenses and offer proof that the credit should be allowed. At the beginning of this audit, she owed a proposed liability of $24,087.08. After our jobs were done, the credit was not only restored, but our client also received a refund from the IRS in the amount of $35,587.29! Take this as proof that no one, no matter their job, net worth, or title, is immune to being audited, but with proper record-keeping, the pendulum can swing your way if you ever find yourself in a bind with the IRS, especially with IRS Trouble Solvers on your side!
the IRS will reverse a passport certification include:
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You accepted an Offer in Compromise. You entered bankruptcy. You are identified by the IRS as a victim of tax-related identity theft. The U.S. Department of Justice enters into a settlement agreement to satisfy the debt. The collection is suspended because you requested an innocent spouse relief.
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It should be noted that if a certification was placed on your passport in error, it will be lifted right away once the proper proof is received and documented.
If you have received a written notice from the IRS (remember that the IRS will not call you) that your passport is being certified, please call us today — we are ready to help!
INGREDIENTS
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1 1/2 cups all-purpose flour 1/4 cup cornstarch 1 tsp baking powder 1 cup and 1 tbsp rolled oats, divided 2 sticks chilled unsalted butter, diced
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2 eggs, beaten
1 tsp vanilla extract 1/4 cup raspberry jam 1 1/3 cups raspberries 3 figs, quartered 1 tbsp turbinado or brown sugar
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2/3 cup caster sugar (superfine granulated)
DIRECTIONS
1. Preheat oven to 350 F. Grease and line an 8x12-inch pan with parchment paper. 2. In a medium bowl, combine flour, cornstarch, baking powder, and 1 cup oats. Using your fingertips, rub in butter until crumbly. Stir in caster sugar, then add egg and vanilla. Stir until clumpy. 3. In the pan, smooth three-quarters of the mixture evenly. Spread jam over the top, then add fruit. Mix leftover oat mixture with turbinado sugar and remaining oats, then sprinkle over the fruit. 4. Bake for 40–45 minutes until golden. Cool in pan for 10 minutes, then slice and serve.
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100 S. York Road, Suite 214 Elmhurst, IL 60126 www.IRSTroubleSolvers.com 630-832-6500 | 877-4-IRSLAW
1 We Will Help You Conquer That Mountain 2 Keep Those Pesky Pests Away! IRS Passport Certification 101 3 Raspberry and Fig Oat Bars Win of the Month 4 There’s a Tax on Gifts? INSIDE THIS ISSUE
How Much Can You Give Tax-Free? THE GO-TO GUIDE TO GIFT TAX
If you’re giving a substantial amount of money or property to someone, you’ll likely have to pay a gift tax. The IRS applies this federal tax on any individual who transfers assets to someone else without anything significant in return. You don’t need to worry about gift taxes if you’re just giving your child a small allowance, but when transferring thousands or millions of dollars, you will likely have to hand over a chunk to the IRS.
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Educational expenses
match your gift, and as a couple, you can give up to $34,000 per individual tax-free. If a gift exceeds this amount in any one year, you must pay a tax. How do you gift strategically? Although gift taxes seem burdensome, they can benefit those who properly plan. People with a significant estate will often schedule gifts each year to minimize their estate and, as a result, reduce the estate tax that would need to be paid upon their death. This strategy is an excellent way to save money for a family in the long run. This guide to gift taxes is simply an introduction. Be sure to speak with a tax professional or financial advisor when determining your gift tax responsibilities. You may also be able to learn a few new strategies that can protect your estate!
Medical expenses Gifts to a spouse
Gifts or donations to political organizations or charities
Be sure to speak with your financial advisor or a tax professional on whether your gift requires a tax. You always want to err on the side of caution.
What does and doesn’t require a gift tax? Gifts include property, bank account transfers, cash, stocks, vehicles, art, lenient loans, and more. Sounds like everything, right? Well, a few instances aren’t impacted by the gift tax. Some tax-free offerings include:
How much can you give? As of 2023, you can give up to $17,000 per individual annually free of tax, meaning you
aren’t limited to gifting just one person before you’re hit with a gift tax. If you’re married, your spouse can
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