IRS Notice CP14: What It Means and What to Do Next

Oasis Tax Advisory header for IRS Notice CP14, the first notice of balance due

What is an IRS CP14 notice? An IRS CP14 notice is the first balance-due letter the IRS sends after processing your tax return. It tells you the IRS believes you owe money for a specific tax year, states the amount, and requests payment within 21 days. The IRS refers to it formally as a Notice […]

The Truth About “Pennies on the Dollar” IRS Settlements

If you’ve ever owed the IRS money, you’ve probably seen the ads. They usually come on late at night or pop up online when you’re already stressed about your situation. “We can settle your tax debt for pennies on the dollar.”“We can reduce what you owe to almost nothing.” It sounds like exactly what you […]

Safeguarding Your IRS Payments: Defending Against Check Washing Fraud

In an era where financial scams are becoming increasingly sophisticated, protecting your IRS payments demands more awareness than it once did. Check washing fraud, a technique where thieves steal checks from the mail, erase crucial information, and manipulate the payee and amount, has seen a resurgence. Understanding exactly how this crime is committed is essential […]

IRS Disallowing 20,000 Employee Retention Credit (ERC) Claims

Article Highlights: Initial ERC Claim Disallowance Letters Issued Dubious TV Promotions Claim Withdrawal Process How These Letters Help Taxpayers In its ongoing effort to combat questionable Employee Retention Credit (ERC) claims, the IRS has sent more than 20,000 letters advising taxpayers that the agency is disallowing their claims. This initial batch of letters is going […]

IRS Offering a Withdrawal Process for Ineligible ERC Claims

Article Highlights: ERC Marketers and Promoters Potential Criminal Investigation and Prosecution About the ERC Who Can Withdraw an ERC Claim How to Withdraw a Questionable ERC Claim The IRS has created a withdrawal option to help small business owners and others who were pressured or misled by ERC marketers or promoters into filing ineligible claims. […]