Legacy Tax & Resolution Services

IRS Lien Removal | Lien Removal | Legacy Tax & Resolution Services

IRS Lien Removal  |  Lien Removal  |  Legacy Tax & Resolution Services   The IRS will send you a Notice of Federal Tax Lien if their efforts to collect your tax debt have been unsuccessful. This is a formal notice of public records and establishes a claim on your property, both current and future. Taking […]

IRS Correspondence Audit | IRS Mail Audit | Legacy Tax & Resolution Services

IRS Correspondence Audit  |  IRS Mail Audit  |  Legacy Tax & Resolution Services   An IRS audit is a review or examination of an organization’s or individual’s returns and supporting information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct.  In most cases, an […]

W-2G

Very Important:  This is not your total reportable winnings.  These are just the winnings that rose to a certain income level; see below. When reporting gambling income, the essential information on Form W-2G is: Very Important:  This is not your total reportable winnings.  These are just the winnings that rose to a certain income level; […]

Form 5754- Group Gambling Winnings

Form 5754- Group Gambling Winnings   Use Form 5754, Statement by Person(s) Receiving Gambling Winnings, to prepare Form W-2G only when the person receiving gambling winnings subject to reporting or withholding isn’t the actual winner or is a member of a group of two or more people sharing the winnings, such as by sharing the […]