Latest News from the Office

A discussion of the latest developments in law that we find interesting.

Form 668-A - Notice of Levy

Last week, we looked at CP504, the warning the IRS gives before issuing a levy. This week, we are looking at Form 668-A. The IRS will send this form to both the taxpayer and the business that will have to turn over the taxpayer’s property, such as a bank.

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CP504 - Notice of Intent to Levy

We recently discussed the differences between a lien and levy here, but how do you know when the IRS will levy your property? Before levying a taxpayer’s property, the IRS must notify the taxpayer of the outstanding balance and the pending levy action.

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How Not to Structure Your Transactions

Most people are aware that cash transactions for $10,000 or more have to be reported to the IRS to help identify and prevent money laundering activities. For cash-based businesses, this reporting requirement can be burdensome, so people will try to arrange payments in such a way as to avoid the $10,000 limit.

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Where do I Live? Georgia Residency Rules

In tax, the idea of domicile or residence determines who, what state or country, can tax you. If you move to another state or another country, then your tax residence changes too, right?

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