We Prepare Tax Returns!

We prepare most type of tax returns:

Individual. 

S Corporation.

C Corporation.

Partnership.

Payroll.

Amended.

Gary Bode, CPA is a Master's Degreed, nation wide accountant offering tax and business services. Member of AICPA and NCACPA. Our virtual office provides excellent service to long distance and international clients. Call (910) 399-2705 for a free phone consult.

Client Video Testimonials

Click here to watch some of our clients in their video testimonials!

Client Testimonials

I became totally and permanently disabled after a working for 44 years. I returned to college late in life (while working full-time) to fulfill my dream of becoming an RN and at that time found it necessary to secure student loans. Three years after being declared totally and permanently disabled my student loans were discharged. In January 2013 we received a 1099-C form declaring said student loans that were discharged however that amount could be considered as income for 2012. This was a large amount of money and we live on two pensions and social security income.

I started looking on the internet for information regarding 1099-C and felt that this was something that we could not handle alone. I made phone calls locally to a very reputable tax group in a city near us and they said it would cost $500 for an appointment and that they really prefer to do corporate taxes and they referred me to a local person who had worked for them at one time, we called and explained the situation and an appointment was made and then the comment was made that "I will have to do some research on this" and flags immediately went up and we called back and cancelled that appointment. I had been researching the IRSwebsite and every place else I could think of and I was not comfortable doing our own taxes this year. We called another local tax preparer that we had used in the past and made an appointment, however prior to the appointment, while still seeking information regarding our situation,

I came across a website for Gary l. Bode, MSA, CPA, PC in Wilmington, NC. I called Mr. Bodeand explained our situation and asked if he could help. He spoke very knowledgeably regarding the situation and stated that yes; he felt he could help us. As Mr. Bode was in North Carolina and we were in New York I scanned all of our documents including back-up documents for all of our claims and forwarded all to him. Mr. Bode kept in touch with us via email; we have spoken on the telephone several times and have become very comfortable with his knowledge and professionalism. Also, as I am a true "worrier" I have continued looking into information regarding our tax situation and I came upon another web page for Mr. Bode that included testimonials which spoke of his experience with this type of tax situation as it became prevalent during the recession. This reinforced in our minds that we had made the right decision in hiring this person as our tax preparer.

I share all of this as our taxes are now ready to be filed (we do owe tax for 2012 but not the astronomical figure we thought we were facing), and we are confident that they have been prepared with the utmost care by a gentleman who has an excellent working knowledge of the situation we faced and the tax laws that were applicable to said situation.

 

Bill and Carol

Free Consult

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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IRS Notice CP14 CPA comments on IRS Notices and IRS Collection Procedures

I’m a CP14 CPA with a virtual office. If you don’t already have a local CPA, consider calling us for a free phone consult at (910) 399-2705.

IRS Notice CP14 is an automated letter that demands tax, interest and penalties. It starts the clock running for the IRS collection process. Note that the IRS assumes it is correct; you’re guilty unless you can prove otherwise. Later IRS Notices will follow if you take no action on CP14:

  • CP 501 reminds you of your tax obligation.
  • CP 503 is harsher in its demand.
  • CP 504 states the IRS intends to Levy, meaning they will seize assets or garnish your paycheck.
  • Letter 1048 is usually the last intent to levy notice.
  • Form 668(Y)

For more background on these Notices, IRS Levies and/or Liens, please click on the drop boxes in the right sidebar. We have dozens of postings that will help you understand your situation.

How a CP14 CPA may approach your case?

Well each case is different. I’ll blog generally here. Ask your CPA before taking any of these actions, as your particular fact pattern must be considered.

  • I assume the IRS is wrong or doesn’t have complete information.
  • CPAs get a limited Power of Attorney so we interact with the IRS.
  • CPAs interact with the IRS so you don’t have to.
  • I often ask for additional time from the IRS when CP14 clients engage me with tight deadlines.
  • Every CP14 CPA will listen to your side of the story.
  • CPAs will ask for relevant documentation from you and then help you find it.
  • CPAs try to prevent the IRS from placing a Lien or Levy on you.
  • We look at the information the IRS has on you.
  • CPAs determine what you really owe. Often this means preparing correct back tax returns, or, amending earlier tax returns.
  • I automatically look at an Offer in Compromise. Why? Maybe they’ll accept less than what you owe. The IRS recently relaxed qualification on the Offer in Compromise.
  • We look at your State’s position on your case.
  • If you do owe the IRS, your CPA will help you figure out how to pay it.
  • CP14 is part of the IRS’ automated collections program. Sometimes getting a Revenue Agent involved is best.

I know it’s hard to believe, but preparing correct back returns almost always results in less tax then the IRS demands. Sometimes it even generates a tax refund.” 
– Gary Bode, CP14 CPA

Common Strategies for CP14 Resolution

  • Do nothing. Eventually the IRS will seize assets.
  • Pay the amount due on CP 14.
  • Accept the amount on CP14 and setup a payment plan with the IRS. Be sure to understand your future cash flow.
  • Accept the amount on CP14 and ask the IRS if they’ll take less through their Offer in Compromise program.
  • Challenge the IRS demand yourself. Research your situation, gather documentation to support your case and then call or visit the IRS.
  • Engage a CP14 CPA to help you find the best solution.

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