Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

I recently got a summons for financial records for a

Customer Question
Hi I recently got...

Hi I recently got a summons for financial records for a business, the question is we paid the amount owed in the period they want the records for we paid the amount after we received the summons, do we still need to show up with records for the summons for IRS or is it cancelled because there is no amount due now for those periods?

Submitted: 8 months ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 2 minutes by:
9/12/2017
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,193
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

Hi My name’s Lane - I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice 1986.

...

I'm so sorry, but not having an amount due (although that DOES, if the IRS deems the return to be accurate, eliminate any non-filing or non-payment penalties) doesn't simply make any audit or information request go away.

Ask Your Own Tax Question
Customer reply replied 8 months ago
We had a lien placed and we paid the lien amount off, for the amount she sent a summons before we paid the amount off, so I was wondering now if that would go away because we paid it off, So all penalties and fees were in the amount of the liens we paid off for the quarters they summoned records for
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago

The summons is still in the system. And won't be removed until the R.O. removes.

...

I would call and be sure. I've seen this happen many times cause problems, 9for two reasons).

...

(1) The request is still in the system and the R.O. (Revenue Officer on the case) didn't remove the outstanding request, and (2) even though the liens are no linger valid, they still exist in the public record.

...

I would (1) call the R.O. to be sure that the info request has been removed and (2) file the 12277 (https://www.irs.gov/pub/irs-pdf/f12277.pdf) to request that the lien be removed from the public record.

...

Ask Your Own Tax Question
Customer reply replied 8 months ago
Thank You so much that is what I was trying to figure if a summons can be removed if an amount was paid!!!
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago

You're very welcome ... Your positive rating … (by using those the stars or faces on your screen, and then clicking “submit”) …is thanks enough!

That's the only way I'll be compensated by JustAnswer for the work here

...

Thank you,

Lane

Ask Your Own Tax Question
Customer reply replied 8 months ago
i know I am understanding this I can contact the R.O. And ask for the summons to be removed so we don't have to go to it? I just want to make sure before I call and cause more issues!!
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago

Yes, and in fact this is best practice. Gets everyone on the same page.

...

(It's seen as a show of good faith on your part, and you make sure that there's not an ongoing audit on the return in question)

...

Lets you close out the issue.

Ask Your Own Tax Question
Customer reply replied 8 months ago
It's not an Audit it was because we owed her he amount we filed the quarterly returns but did not pay the amount owed! So it was a matter of quarterlies filed but no taxes paid in that quarterly time frame!!
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago

Any time taxes aren't paid, the return(s) become fodder for audit. Again, I'm giving you the best practice here. You don't want a request to go unanswered.

...

I've been doing this for 30 years and can tell you from experience, that taxpayers doing something that they THINK/HOPE IRS wants (here, you're assuming that the unpaid payroll taxes were the ONLY reason for the request) and not specifically fulfilling the request has come back to haunt others.

...

You have an outstanding request for information that hasn't been fulfilled. Unless you have a crystal ball you DON'T know everything behind the request.

...

Again the best practice is to "close the loop," by being sure, and not leaving this request hanging out there

Ask Your Own Tax Question
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago
Hi - Did you contact the R.O?
Ask Your Own Tax Question
Was this answer helpful?
Ask Lane Your Own Question
Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,193
14,193 Satisfied Customers
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

Lane is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,495 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,272 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
If you are a member of a registered non-profit organization
if you are a member of a registered non-profit organization does an employee making less than $900.00 a year for office work have to file this with the IRA ? … read more
Lane
Lane
JD, CFP, MBA, CRPS
14,193 satisfied customers
Non profit UBIT and the 990T. Helping a friend non profit
Non profit UBIT and the 990T. Helping a friend non profit that recently sold rental house with a mtg. So I have the calculation on what of the total gain is taxable. But now confused on how to report … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,026 satisfied customers
Can a private individual invest in a non-profit organization
Can a private individual invest in a non-profit organization in the state of Iowa … read more
Lane
Lane
JD, CFP, MBA, CRPS
14,193 satisfied customers
How do I file an electronic non-resident tax return for an
How do I file an electronic non-resident tax return for an American Citizen working in Canada? His Social Security Number doesn't seem to be acceptable for Electronic Filing… read more
Bryan M.
Bryan M.
Owner
Masters of Accountancy
120 satisfied customers
What is the percentage for paying payroll taxes for my
What is the percentage for paying payroll taxes for my employees in Washington State … read more
abci168
abci168
Principal
27 satisfied customers
Tax question I paid to a non profit organization in India,
Tax questionI paid to a non profit organization in India, for Rs. 25000. Can this qualify as a tax deduction? Is it eligible? Please provide IRS references.… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Will my tax returns be flagged/audited if I don't report tax
Will my tax returns be flagged/audited if I don't report tax credit of $1500 that I got in my 1095-A?… read more
abci168
abci168
Principal
27 satisfied customers
We are a small non-profit association for a fire department
We are a small non-profit association for a fire department that has fund raisers that collect <$5,000 annually. We spend this on safety items and have a non-profit number. First time as treasurer … read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,113 satisfied customers
I am e-filing a joint return with my husband for 2017 tax
I am e-filing a joint return with my husband for 2017 tax year can the refund go to my checking account even though he is the higher earner… read more
Lane
Lane
JD, CFP, MBA, CRPS
14,193 satisfied customers
We are a 501(c)3 fiscal sponsor for another non-profit. They
We are a 501(c)3 fiscal sponsor for another non-profit. They now have established their own 501(c)3 status, and we need to transfer the assets on our books that actually belong to them. What's the bes… read more
Lane
Lane
JD, CFP, MBA, CRPS
14,193 satisfied customers
How do I renew the tax except certificate of a non-profit
How do I renew the tax except certificate of a non-profit charitable organization? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,113 satisfied customers
I earned 16040 in 2017 from a small non-for profit. The
I earned 16040 in 2017 from a small non-for profit. The non-for -profit neglected to file a w-2 for me, but is happy to do so now. Is it a problem that he has not withheld social security and health l… read more
Lane
Lane
JD, CFP, MBA, CRPS
14,193 satisfied customers
I have S corporation. what quarterly tax I should file with
I have S corporation. what quarterly tax I should file with IRS? W-2 federal tax withholding plus social security employment tax?… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,199 satisfied customers
How do i file payroll tax returns and make payments for
how do i file payroll tax returns and make payments for California? Do I need my state ID number AND unemployment number or are they one and the same?… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,199 satisfied customers
Trying to determine the tax status of a non profit group. We
trying to determine the tax status of a non profit group … read more
Lane
Lane
JD, CFP, MBA, CRPS
14,193 satisfied customers
Are religious (church) non-profits required to file state
Are religious (church) non-profits required to file state and federal taxes annually? … read more
Lane
Lane
JD, CFP, MBA, CRPS
14,193 satisfied customers
I am considering filing as an Non-Profit for the tax
i am considering filing as an Non-Profit for the tax advantage but do not know that it would work for me. I am just using this as a tax shelter as I will be owing lots more money in taxes as a single … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,272 satisfied customers
Do you know non profit tax law? California. The 501(c) 3 has
Do you know non profit tax law? JA: Can you tell me where the nonprofit is registered? Customer: California JA: Has anything been officially filed? If so, what? Customer: The 501(c) 3 has existed sinc… read more
Lane
Lane
JD, CFP, MBA, CRPS
14,193 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x