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.

Pay Your CPA

Enter $ Below



Other Amount:



Your Email Address :



Tax Audit CPA discusses Currently Not Collectible IRS status | IRS Tax Form 433-F and Form CP-71 | IRS tax problems

tax audit cpa discusses Currently Not Collectible IRS status and Forms 433-F and CP-71

The IRS has a Not Currently Collectible account status. It can buy some time. If you like what you read, consider calling for a free phone consult at (910) 399-2705. Our virtual office allows us to offer CPA services regardless of where you live.

Tax audit CPAs have tools available to help their Clients with tax problems, even if the IRS wins a few rounds. One technique is getting you, or your company, classified as a “Not Currently Collectible” account, usually accomplished by filing IRS Form 433-F, Collection Information Statement. “Not Currently Collectible” puts you into an IRS limbo where both parties recognize taxes are due, but there’s no way to pay at the moment. The Form 433-F instructions are pretty good. Then the IRS sends you an annual tax Form CP-71 as a reminder that you have unpaid taxes. I caution you to watch any back State taxes due as well, they’re sometimes not as patient.

Why would a tax audit CPA file IRS tax Form 433-F?

Form 433-F buys you time. Even without IRS Form 433-F, the IRS is good about allowing more time once a engage a tax audit CPA accountant. But I’m talking several months here instead of the long-term hiatus of Currently Not Collectible status. In my experience, CPAs don’t file Form 433-F without intending to use other tactics to fight the tax amount due or facilitate the tax payment process. I see tax Form 433-F and Currently Not Collectible status as tactical retreat while we re-group to mount other strategies. However, say for older person living off Social Security, the Not Currently Collectible could be for life. Here are some approaches a tax audit CPA might take on a typical case while you’re Not Currently Collectible status:

  • Fight the IRS on the amount owed. For example, if you have unfiled back taxes, just filing correct tax returns should lower the amount due to the IRS. I’d help you piece together the required information and cross correlate it against what the IRS has on record. I’ve seen multiple cases where the IRS tax audit turns into a client refund.
  • Offer in Compromise: IRS Form 656. Here you agree that you owe the IRS taxes. But now you’re asking for a reduction because you simply can’t pay the amount in full. The IRS relaxed the standards for an Offer in Compromise as part of their Fresh Start program. It isn’t costly to check if you’re qualified.
  • Installment Agreement: Form 9465. This is a monthly payment plan with the IRS. Their Fresh Start program relaxed requirements for their “payment plans” too.

“Be careful when filing Form 433-F. Don’t expose yourself to additional IRS scrutiny.” 
– Gary Bode, tax audit CPA

What happens if you get Not Currently Collectible status? Form CP-71?

Well the IRS has to remind you annually that you have unpaid taxes. That’s what the Form CP-71 does. There are other versions of CP-71, like CP-71A, CP-71C and CP-71D. You have to keep the IRS updated to keep your Not Currently Collectible status. Read it carefully or pay a CPA to check it for you. Compliance is crucial to maintaining IRS Not Currently Collectible status.

“Remember that if you’re filing IRS Form 433-F, State tax issues  exist too.”
– Gary Bode, tax audit CPA

State Tax Issues

Most states that required an income tax return relay on the IRS for information. So there’s a delay with your State tax problems. I think most tax audit CPAs plan for this contingency. Why? A CPA’s options become limited if the State shows up early.

What’s a IRS Tax Audit CPA?

I think of myself as an IRS tax problem preventionist. So I think being an IRS tax audit CPA is a state of mind. I’m there to play the whole game for you. Folks just engage me at various stages of their IRS tax problem.

I’m a tax audit CPA with a virtual office. We file back taxes, make Offers in Compromise and file Form 433-F. For a free phone consult call (910) 399-2705.

Find me on Google+

Like me on Facebook

Follow me on Twitter

4 comments to Tax Audit CPA discusses Currently Not Collectible IRS status | IRS Tax Form 433-F and Form CP-71 | IRS tax problems

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>