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The IRS Collection Process

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April 9th, 2021

Posted in IRS & Tax Information

If you do not pay in full when you file your taxes, you will receive a bill notice from the IRS. This bill begins the collection process, which continues until your account is satisfied or until the IRS may no longer legally collect the tax, for example if the collection period has expired. The first notice you receive will be a bill that explains the balance due and demands payment in full. It will include the amount of the tax, plus any accrued penalties and interest, which will continue to accrue.


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Top Six Questions on Last Will & Testaments

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March 19th, 2021

Posted in Estate & Personal Planning

What is a Will?

A Last Will and Testament (often just called a “will”) is a written direction controlling the disposition of property at death. The laws of each state set the formal requirements for a legal will. In Florida:

  • The maker of the will (called the testator) must be at least 18 years old.
  • The testator must be of sound mind at the time the will is signed.
  • The will must be written.
  • The will must be witnessed and notarized in the special manner provided by law.
  • It is necessary to follow exactly the formalities required for the execution of a will.
  • To be effective, the will must be proved in and allowed by the probate court.

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Restrictions on Display of Certain Flags Within Community Associations

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February 16th, 2021

Posted in Condominium & Homeowner Association Law

For many people, one of the most attractive aspects of living in a condominium or homeowners’ association is to have an aesthetically pleasing environment. To that end, there are often restrictions on displays by owners. This blog post covers the unique aspects of certain flags.


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Responding to a CP2000 Underreported Income Notice from the IRS

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January 15th, 2021

Posted in IRS & Tax Information

When your tax return does not match data reported to the IRS from third parties, a letter called an IRS Notice CP2000 may be sent to you. It is not a formal audit notification, but it can quickly turn into a deficiency notice if not addressed. CP2000 Notices contain:

  • The amounts you reported on your original or processed amended return;
  • The amounts reported to the IRS by the payer or 3rd parties;
  • The payer’s name, ID number, the type of document issued (W-2, 1098, 1099), and the tax identification number of the person to whom the document was issued;
  • The proposed changes to your income, tax, credits, or payments; and
  • A Response form, payment voucher, and an envelope.

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2020 Special Tax Deductions for Cash Donations to Charities

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December 18th, 2020

Posted in IRS & Tax Information

The CARES Act, enacted by Congress previously this year, includes a special $300 charitable tax deduction, even if you do not itemize your deductions on your taxes. The purpose of this deduction is to help charities that may be struggling due to the COVID-19 pandemic. This new and temporary deduction is only available to taxpayers who make a cash contribution directly to a charity and before the end of the 2020 year.


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What is the Business Judgment Rule and How Does it Protect the Board of Directors of a Community Association?

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November 20th, 2020

Posted in Condominium & Homeowner Association Law

A community association’s board of directors is often tasked with making difficult and sometimes controversial decisions regarding community issues, such as covenant enforcement, collection action against delinquent owners, or larger issues with neighboring associations or governmental entities, among other issues. The gravity of these critical decisions can be stressful for board members and create questions regarding their own exposure to liability. A common question and concern from community association directors in these situations is, “Can I be held personally responsible for my actions as a director?”


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Closing a Business Checklist from a Tax Perspective

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October 16th, 2020

Posted in Business Law,IRS & Tax Information

Closing a business can be a difficult and challenging task. First, before you close your business, find out if tax relief, your local county, or the CARES Act legislation can help you stay open. Also, be sure to consult with your professional team such as an attorney or accountant.

There are typical actions that are taken when closing a business. This blog post focuses on tax responsibilities with the IRS and FL Department of Revenue. It does not address non-tax obligations such as those associated with the vendors, contracts, or the FL Division of Corporations.


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Employee Payroll Tax Deferral

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September 18th, 2020

Posted in IRS & Tax Information

On August 8, 2020, the President issued a Memorandum entitled Deferring Payroll Tax Obligation in light of the Ongoing COVID-19 Disaster. The Memorandum authorizes the Secretary of the Treasury to defer certain payroll tax obligations. The purpose of the Memorandum is to produce a targeted action that “will put money directly in the pockets of American workers and generate additional incentives for work and employment.”


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