In this episode of The Tax Resolution Playbook, host Doug Sandler talks to Peter Marchiano, a CPA and Tax Resolution Specialist. They dive deep into the daunting world of IRS penalties. Pete understands that receiving a letter from the IRS can strike fear into the hearts of many, but he's here to provide guidance and expertise to help navigate these challenging situations.

In this episode, Doug Sandler and Peter Marchiano discuss:

• Ignoring IRS Notices
• Not Filing a Return Because You Can't Pay
• Going it Alone Without Understanding Options
• Giving Incomplete or Inaccurate Information
• Waiting Until It's An Emergency

Key Takeaways:

• Ignoring IRS notices—especially leaving them unopened—causes you to lose valuable rights that are tied to strict deadlines, like the 30-day window before levies or garnishments.
• Filing your tax returns is more critical than being able to pay the bill in full because non-filing penalties are roughly ten times harsher than non-payment penalties, and you can’t access payment options or relief programs if the returns don’t exist.
• Do not go it alone, as a representative who understands IRS rules, rights, and procedures can push back, propose alternatives, and escalate to appeals when necessary.
• The IRS will negotiate based on allowable living expenses and genuine “health and welfare” needs, but not on wants or discretionary spending, meaning that documenting things like necessary transportation, medical diets, or care for dependents (even pets in some cases) can dramatically reduce what the IRS expects you to pay each month.
• IRS systems are sophisticated at spotting red flags, from mismatched income documents to obviously “made up” rounded expenses that all end in zeros.

“Dealing with the IRS, they're the most brutal collection agency on the planet. They want to get paid in full today.” - Peter Marchiano

Purchase Pete's book The Tax Resolution Playbook to navigate IRS challenges with confidence and peace of mind:

https://www.amazon.com/Tax-Resolution-Playbook-Offensive-Strategies/dp/1956220119

About Peter Marchiano:

Peter J. Marchiano, JR. is the premier provider of tax relief in the Toms River Area. We understand the stress and sleepless nights that dealing with government agencies can bring. He will develop a strategic plan and negotiate on your behalf with the tax authorities.

He promises to provide you with an unparalleled level of service and guidance every step of the way. It is about redefining what you expect from your tax professional. It is more than just taxes; it is about being a true partner in your success.

Connect with Peter Marchiano:

Website: https://www.marchianocpa.com/

Phone: (732) 606-9199

Show notes by Podcastologist: Hanz Jimuel Alvarez

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.