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We prepare most type of tax returns:


S Corporation.

C Corporation.




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Client Testimonials

I used Gary’s services to file my 2012 income tax return. This was my first year having an accountant do my return, as I have always done it myself using TurboTax. However, this year I had cancelled debt from my old primary residence which I was forced to convert to a rental property after relocating out of state.

While it didn’t cost me anything to do the short sale, the income tax consequence from the cancelled debt, roughly $50,000 in my case, was enough to move me from the 15% tax bracket to the 25% tax bracket.  Needless to say, I was concerned about that.

Finances were already tight and my husband and I are expecting our first child this fall. So the possibility of owing income tax was stressing me out. However, Gary was great at relieving my fears.

He is extremely knowledgeable, answered all my questions and was very thorough. I knew I was in good hands. He kept in constant contact with me throughout the process, keeping me updated on the progress of my return and letting me know what paperwork he needed to complete my filing.

In my mind, best case scenario would have been to not owe any taxes. Second best would be to only owe a little. Well, you can imagine my surprise and delight when Gary told me I was actually due a refund of a little over $2,700.00!

To top it all off, I found Gary’s fee for service to be fair, competitive and affordable; especially given the complexity of this type of return. I am so glad I did not try and go it alone this year. I am extremely pleased with Gary’s service and would recommend him highly to anyone, in fact I already have. If you have cancelled debt from a short sale or foreclosure, don’t freak out. Take a deep breath and call or email Gary. I am grateful I did.

Angie Falke of Holiday, FL

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Even though Gary enjoys helping colleagues, we no longer provide free consults to other tax preparers. He's happy to consult on an hourly billing basis if our schedule allows.

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CPA discusses IRS Notice CP 297A Response Tactics | NC Tax Audit CPA

tax audit cpa wilmington nc

Gary Bode, CPA: IRS Notice CP 297A deserves professional attention. For a free initial phone consult, call 399-2705.

I’ll discuss some standard tactics a tax CPA might take to counter CP 297A, Notice of Levy and Notice of Your Right to a Hearing,  but you can’t reasonable rely on this post alone for a cause of action. It is just a general discussion.

Brief Background of IRS Notice CP 297A

CPAs think of IRS Notice CP 297A as the 14th round of a heavyweight fight against the IRS. By the time you receive Notice CP 297A, they usually have a federal tax lien in place. Notice CP 297A means the IRS can and will levy company assets in 30 days.

What can they Levy?

Generally they start with seizing funds. This might be from governmental contract revenues, your company’s bank accounts, etc.

If that doesn’t satisfy the lien amount, they’ll go after hard assets, like your equipment. This they will sell and apply the proceeds to your account. They usually sell it for less than you could have gotten for it.

What can my Company do About IRS Notice CP 297A?

It depends. The IRS probably doesn’t want to close down a business. Usually they have just lost patience with you. The following list is in no particular order:

  • Correctly calculate what is actually due to the IRS. Don’t just take their word for it. Notice CP 297A gives their version.
  • Ask to have an actual IRS agent assigned to your case, if you don’t already have one. The IRS relies on its automated collection system for the process leading up to Notice CP 297A, especially if the amounts are “small”.
  • Read Publication 594, What You Should Know About The IRS Collection Process. They have to follow the rules. But any CPA would tell you it pays to watch them. While you have recourse against violations, it may be too late to actually help your company.
  • File Form 12153, Request for a Collection Due Process Hearing, if the IRS demand is incorrect. I wouldn’t advise using this as a delay tactic.
  • Read Publication 1660, Collection Appeal Rights, in case you lose the Collection Due Process Hearing.
  • Make an Offer in Compromise. This is the infamous “pennies on the dollar” technique. Restrictions and red tape rule here. Hire a CPA, specifically us if you don’t already have a CPA or want a new perspective.
  • Setup an Installment Agreement with the IRS.
  • Setup a partial payment Installment Agreement. You’d have to prove you can’t meet the terms of a normal Installment Agreement.
  • Pay the IRS in full. I understand this is unrealistic. But sometimes families will help. You might have equity in your home to tap. You can sell company assets and at least get more for them then the IRS would at auction.
  • Post a bond for the amount. Again families may help.
  • Call the Taxpayer Advocate.
  • Ride out the Statute of Limitations. But the IRS is good at extending these.
  • Think about re-structuring your company to function after CP 297A consequences play out.
  • Consider bankruptcy. Talk to an attorney. Generally you can’t discharge taxes through bankruptcy. And if it is possible, timing is crucial. The threat of bankruptcy might make your IRS Agent amenable to other alternatives listed above.
  • Hire a new CPA who might be able to bargain for additional time.

We’re a back tax and tax audit CPA firm in Wilmington NC. Our virtual office allows us to offer excellent service to long distance and international clients. Please read any of our posts to help gauge our expertise and proactive philosophy. We offer a free initial phone consult. (910) 399-2705

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