Last week I wrote about the shocking expansion of the tax travel ban now potentially affecting up to half a million people in the United States. How do you know if you are among them?
The IRS is now sending letter CP508C to notify affected taxpayers who, IRS says, owe more than $50,000 in taxes. It is important to know that the IRS is NOT sending a copy of this to your designated tax adviser, so your accountant or attorney ill not know unless you share the letter with them. This is unusual, but in fact this entire program is unusual and unprecedented. An adviser can verify the action by obtsining a copy of the clients’ tax transcript.