by Matthew Wildes, JD, CPA | Jul 23, 2026 | Tax Penalties & Relief
Read Time:8 Minute, 21 Second The IRS underpayment penalty applies when you have not paid enough tax throughout the year through withholding or estimated payments. It is not a late-filing penalty. It is not a failure-to-pay penalty. It is a separate charge under IRC...
by Matthew Wildes, JD, CPA | Jul 21, 2026 | IRS Collections & Levies
Read Time:5 Minute, 39 Second An LT11 or Letter 1058 is not a reminder. It is the IRS telling you, in writing, that they are done waiting ? and that collection action, including asset seizure, begins in 30 days if nothing changes. Most people treat it like another...
by Matthew Wildes, JD, CPA | Jul 13, 2026 | Tax Resolution
Read Time:7 Minute, 39 Second Client name and identifying details have been changed to protect privacy. This is a real case. Dave had paid $62,000 in federal and state taxes on gambling income he never actually kept. The W-2Gs were real. The jackpots happened. But the...
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