Month: April 2023

IRS Code 810: What Does it Mean on IRS Transcript?

The IRS can freeze a taxpayer’s account for various reasons. Freeze codes on a…

IRS Code 826: What Does it Mean on IRS Transcript?

Being eligible for a tax refund doesn’t guarantee you’ll receive the entire overpayment amount…

IRS Code 9021: What Does It Mean On IRS WMR Tool?

Everyone makes mistakes, but your margin for error when filing a tax return is…

IRS Code 1563: What is Attribution of Ownership in Retirement Plans?

The rules for determining stock ownership in a corporation are laid out in Section…

IRS Code Section 6672: What is Trust Fund Recovery Penalty?

Running a corporation involves a high level of responsibility. Aside from ensuring businesses’ daily…

IRS Code Section 6694: What Are Tax Preparer Penalties?

Providing inaccurate information on a tax return isn’t a criminal offense, but tax preparers…

IRS Code 420: What Does It Mean on IRS Transcript?

Audits can seem intimidating, but the majority of the problems regarding returns the IRS…

IRS Code 362: Understanding Loss Duplication Transactions

The US Congress enacted Section 362(e) of the IRC as part of the American…

IRS Code 768: What Does It Mean on IRS Transcript?

Eligible taxpayers can use earned income tax credits to reduce their tax liabilities. IRS…