Tandy Consulting Inc

The IRS will resume issuing the 500 series balance due notices to taxpayers later this month. These notices were paused on May 9 due to COVID-19. Although the IRS continued to issue most agency notices, the 500 series was suspended temporarily because of a backlog of mail at the IRS due to COVID-19. The mail backlog is now caught up enough to account for the timely mailed payments. In late October or early November, some taxpayers will begin seeing the updated 500 series noti...ces with current issuance and payment dates. The 500 series includes three different types of notices alerting taxpayers of varying stages of nonpayment the CP501, the CP503 and the CP504. The CP501 notice alerts individual taxpayers that they still have a balance due and provides their options. The CP503 alerts taxpayers that the IRS hasn't heard from them and they may be subject to a lien if they don't pay. The CP504 alerts taxpayers that they must pay their balances immediately or possibly face a levy of their state income tax refunds.

If you own a home you probably itemize your deductions on your tax return. But what if you do not itemize? Can someone using the standard deduction still get a tax break?

#tandyconsulting clients are like #family. Here's a little #throwbackthursday review from one of our family members. Don't forget to reach out and support them as well. #smallbusiness #taxes #bookkeeping #cryptocurrency #quickbooks #quickbooksonline #quickbooksproadvisor

Taxes are complicated. Asking for help is not. Call for an appointment.

Oops! You find an error or omission on last year's tax return. What should you do? Is it always a good idea to file an amended tax return? Here are some things to consider.

Bolster your business's credit rating to make it easier to borrow cash when you need it. Also read about how applying for forgiveness for your Paycheck Protection Program loan just got a lot easier.

Quiz: Has illegal income always been taxable?

The Social Security Administration recently announced their 2021 Cost-of-Living Adjustment (COLA) changes. Here is what you need to know.

Having your tax return reviewed by the IRS is never fun. Here are suggestions to ensure you come out on the right side of an audit.

Did you know you can reach a real human being at the IRS? No kidding here's a free set of instructions on how to get through. https://bit.ly/37wnjdm

5 retirement mistakes that can cost you big $$

If you recently changed your name due to marriage or divorce, do not get caught in the nightmare of a rejected or changed tax return by the IRS.