Contemplating Refinancing Your Home Mortgage? Things You Should Consider
Article Highlights: Is It Appropriate to Refinance Your Home Loan? Refinance Costs Interest Rates Credit Score Borrowing Additional Cash Mortgage Limit Loan Term State Treatment Itemizing Deductions With home mortgage rates at historic lows, it may be appropriate for you to consider refinancing your current mortgage. However, refinancing may not always be the greatest idea, […]
IRS Extends COVID-19 Relief Leave Donations
Article Highlights: IRS extends COVID-19 Relief Leave Donations Donating unused vacation time, sick leave, and personal time Employer’s Function Great Donation Opportunity As part of the emergency disaster declaration made by President Trump on March 13, 2020, it became possible for employees to donate their unused paid vacation time, sick leave, and personal time off […]
IRS Accepts Installment Agreement in Chama, NM
IRS Accepts Installment Agreement in Chama, NM IRS Installment Agreement – 11-22-2021 Taxpayer Situation: Taxpayer owed the IRS for tax years 2016, 2017, and 2018. The taxpayer was current with the filing of all her tax returns. Resolution Outcome: Legacy Tax & Resolution Services successfully negotiated an Internal Revenue Service Installment Agreement for a client in Chama, […]
IRS Accepts Offer in Compromise in Tucumcari, NM
IRS Accepts Offer in Compromise in Tucumcari, NM IRS Offer in Compromise – 09-13-2021 Taxpayer Situation: Taxpayers owed the IRS for tax years 2012-2017, totaling $115,778. The taxpayers were current with the filing of all their tax returns. Resolution Outcome: Legacy Tax & Resolution Services successfully negotiated an Offer in Compromise with the Internal Revenue Service for […]
State Accepts Replacements of Substitute for Returns in Socorro, NM
State Accepts Replacements of Substitute for Returns in Socorro, NM IRS Replacement of Substitute for Returns– 08-03-2021 Taxpayer Situation: As a result of the taxpayer’s failure to file returns, the State of New Mexico Taxation and Revenue Department filed several Substitute for Returns and assessed the taxpayer with $29,655 in over-inflated additional taxes. Resolution Outcome: Legacy Tax & […]
State Accepts Reduced Sales Tax Liability in Santa Fe, NM
State Accepts Reduced Sales Tax Liability in Santa Fe, NM State Reduced Sales Tax Liability – 06-19-2021 Taxpayer Situation: The taxpayer had outstanding sales tax liabilities for 2013- 2017 in the amount of $56,226. Taxpayers had made payments to the state but had failed to file sales tax reports. Resolution Outcome: Legacy Tax & Resolution Services successfully […]
IRS Accepts Audit Reconsideration for Unreported Cryptocurrency Transactions in Albuquerque, NM
IRS Accepts Audit Reconsideration for Unreported Cryptocurrency Transactions in Albuquerque, NM IRS Revised Audit Outcome – 04-27-2021 Taxpayer Situation: The taxpayer received a CP 2000 for unreported Crypto Currency transactions in 2019 and did not respond. The taxpayer was accessed with 66,469 in additional taxes for the year 2019. The taxpayer did not know how […]
IRS Released Levy in Las Vegas, NM
IRS Released Levy in Las Vegas, NM IRS Levy Release – 02-14-2021 Taxpayer Situation: Taxpayer owed the IRS for tax years 2013, 2015, and 2017. The taxpayer was current with the filing of all her tax returns. Resolution Outcome: Legacy Tax & Resolution Services successfully negotiated a Levy Release after a small balance due payment for a […]
IRS Released Levy in Raton, NM
IRS Released Levy in Raton, NM IRS Levy Release – 12-05-2020 Taxpayer Situation: Taxpayer owed the IRS for tax years 2013, 2014, and 2016. The taxpayer was current with the filing of all his tax returns. Resolution Outcome: Legacy Tax & Resolution Services successfully negotiated a Levy Release with the Internal Revenue Service after a small balance […]
IRS Accepts Installment Agreement in Taos, NM
IRS Accepts Installment Agreement in Taos, NM IRS Installment Agreement – 11-22-2020 Taxpayer Situation: Taxpayer owed the IRS for tax years 2008-2012 and 2014. The taxpayer was current with the filing of all her tax returns. Resolution Outcome: Legacy Tax & Resolution Services successfully negotiated an Internal Revenue Service payment agreement for a client in Taos, NM. […]