Tax Problems Explained

Episode Summary:
In this episode of Tax Problems Explained, Lawrence T. Ullmann, a seasoned tax professional with a background as a former IRS agent and private practice expert. They delve into the complexities and consequences of failing to file tax returns for multiple years. Lawrence explains common reasons why individuals fall behind, such as life-changing events, and outlines the IRS's response to non-compliance, including the Substitute for Return program. The discussion highlights the risks of accruing penalties, potential criminal charges, and the challenges of reconstructing financial records. Lawrence also provides guidance on how far back individuals need to file to regain compliance and emphasizes the importance of consulting a tax attorney. This episode is essential for anyone facing unfiled tax issues, offering practical advice to navigate the IRS system effectively.
Key Timestamps:
00:01 – Introduction
00:35 – Common Reasons for Unfiled Returns
02:04 – IRS Perspective on Non-Compliance
03:27 – IRS Substitute for Return Program
04:49 – Risks of Unfiled Returns
06:15 – Quarterly Taxes and Penalties
07:30 – Filing Past Returns: How Far Back?
09:31 – Importance of Consulting a Tax Attorney
10:01 – Process of Filing Past Returns
11:44 – Challenges in Reconstructing Records
12:50 – When to Involve a Tax Attorney
13:56 – Legal Protections and IRS Rules
About the Show:
Tax Problems Explained is a podcast designed for individuals and businesses seeking clarity on complex tax issues. Hosted by experienced professionals, the show provides insights into the workings of the IRS, offering practical advice on resolving tax problems. Each episode breaks down intricate tax topics with a focus on compliance, legal considerations, and strategic planning. Whether you're dealing with unfiled returns, audits, or other tax-related challenges, Tax Problems Explained equips listeners with the knowledge to navigate the tax system confidently.

Episode Summary: Lawrence T. Ullmann discusses the purpose of IRS appeals, the role of the appeals office, eligibility for appeals, factors considered in appeal reviews, and the importance of hazards of litigation in decision-making, offering insights into resolving tax issues efficiently.
Key Timestamps:00:00 – Introduction to the episode on IRS appeals00:44 – Purpose of the IRS Appeals Office02:03 – How appeals differ from the examination/audit division03:10 – When a taxpayer can request an appeal after an audit04:00 – Factors the appeals office considers04:50 – Hazards of litigation and how it affects settlements06:30 – General example of a case moving from audit to appeals09:10 – When filing an appeal may not be the best strategy10:30 – How formal the appeals process is and what to expect11:50 – What makes an appeal more likely to resolve efficiently12:30 – Closing remarks and contact information
About the Show:*Tax Problems Explained* offers valuable insights into navigating tax issues from the perspectives of an attorney, a CPA, and a former IRS agent, providing expertise in understanding and resolving complex tax problems efficiently.

Episode Summary: Delve into the intricacies of IRS audits with Lawrence T. Ullmann, a seasoned professional with insights from his IRS and private practice experience. Learn about audit triggers, selection processes, and practical tips for audit preparation, offering valuable guidance for navigating tax challenges.
Key Timestamps:00:00 – Introduction to the episode on IRS audits00:50 – What is an IRS audit and why does the IRS conduct them?02:00 – How the IRS actually selects returns for audit (not random)02:40 – DIF scores and computer algorithms explained04:00 – Other ways returns get selected (e.g., from vendor audits)04:50 – Common patterns and discrepancies that trigger audits05:50 – How income levels affect audit likelihood06:40 – Claiming legitimate deductions and avoiding unnecessary fear08:40 – Impact of filing late, amended returns, or cash-based businesses10:00 – Role of automated systems and human judgment in audits11:50 – Real-world audit example (vacation home case)14:10 – First steps if you receive an audit notice16:05 – Closing remarks and contact information
About the Show:*Tax Problems Explained* provides expert insights on navigating complex tax issues, offering practical advice and strategies to individuals and businesses facing IRS challenges. Gain valuable knowledge and solutions from professionals in the field.

Episode Summary:
In this episode of *Tax Problems Explained*, Lawrence Ullmann sheds light on the significance of IRS notices, the varying levels of urgency they carry, and how individuals should respond to them. From deciphering the purpose of IRS communications to navigating complex tax issues, Lawrence offers invaluable insights to help listeners tackle tax challenges effectively.
Key Timestamps:
00:00 – Introduction
01:25 – Purpose of IRS Notices
03:10 – Identifying Urgent Notices
05:45 – Approaching Proposed Return Changes
07:30 – Handling IRS Calculations
09:15 – Consequences of Ignoring Notices
11:40 – Escalation of Unresolved Notices
14:20 – Self-Resolution vs. Involving a Tax Attorney
About the Show:
*Tax Problems Explained* delves into the intricate world of tax issues from the combined perspectives of an attorney, a CPA, and a former IRS agent. With Lawrence Ullmann's extensive experience and insights, the show aims to equip individuals and businesses with the knowledge needed to navigate the complexities of the tax system effectively.

Episode Summary:Lawrence Ullmann shares his journey from studying public accounting to working within the IRS for 17 years as a revenue agent and appeals officer. He discusses the practical lessons learned inside the IRS and how his diverse background in accounting, law, and real estate shapes his approach to resolving tax issues for clients today.
Key Timestamps:00:00 – Introduction00:45 – Transition from Chemistry to Accounting02:30 – Lessons from working inside the IRS04:15 – Distinction between a revenue agent and appeals officer06:10 – Balancing work and advanced studies08:20 – Impact of broader financial background on tax evaluations10:05 – Transition to private practice12:30 – Misconceptions about the IRS14:45 – Wrapping up insights on IRS evaluation
About the Show:*Tax Problems Explained* provides valuable insights from Lawrence Ullmann, blending his experience as an attorney, CPA, and former IRS agent to help individuals and businesses navigate tax challenges effectively.