Tax Problems Explained

The Legal Podcast Network (LPN)

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*Tax Problems Explained* provides valuable insights from Lawrence Ullmann, blending his experience as an attorney, CPA, and former IRS agent to help individuals and businesses navigate tax challenges effectively.

5h ago

Offer in Compromise: Can You Really Settle IRS Tax Debt for Less?

Episode Summary: In this episode of Tax Problems Explained, host LeAnn Lyon is joined by Lawrence T. Ullmann, a seasoned expert with decades of experience inside the IRS and private practice. Together, they delve into the complexities of the offer-in-compromise process, a formal IRS procedure to settle tax debt for less than what is owed. Lawrence explains the critical factors the IRS evaluates, such as a taxpayer's assets, future earnings, and compliance status. He highlights common pitfalls that lead to rejected applications and compares the offer-in-compromise with simpler options like IRS payment plans. Lawrence shares insights from real-life cases, emphasizing the importance of professional guidance in navigating this intricate process. Listeners will gain a deeper understanding of how to approach tax debt strategically and the potential benefits of pursuing an offer-in-compromise. Key Timestamps: 00:01 – Introduction 00:54 – Understanding Offer-in-Compromise 01:59 – IRS Control in Negotiations 02:56 – Key Factors for IRS Evaluation 04:08 – Importance of Compliance 05:47 – Common Mistakes in Applications 06:43 – Offer-in-Compromise vs. Payment Plan 08:33 – Real-Life Case Example 10:06 – Consequences of Rejection 11:07 – Challenges Without Professional Help 12:48 – Assessing Offer-in-Compromise Viability 13:44 – Importance of Professional Guidance About the Show: Tax Problems Explained offers listeners a comprehensive look into the intricacies of the tax system from the perspectives of an attorney, a CPA, and a former IRS agent. Designed for individuals and businesses facing tax challenges, the series breaks down complex topics into understandable segments, providing valuable insights and practical solutions. With a focus on clarity and actionable advice, the show aims to empower listeners to tackle their tax issues with confidence and informed strategies.
Sep 9

What the IRS Looks for in High-Income Individual Returns

Episode Summary: In this episode of Tax Problems Explained, host Leann Lyon sits down with Lawrence T. Ullmann, a seasoned former IRS agent and tax attorney, to delve into the intricacies of how the IRS evaluates high-income tax returns. Lawrence shares insights on why high-income individuals and businesses face greater scrutiny, particularly due to the complexity of their financial situations. He explains the role of IRS analytics, such as the Discriminated Income Function (DIF), in assessing these returns. The discussion highlights common areas of concern, like K-1 schedules and material participation, that can trigger IRS attention. Listeners will gain valuable knowledge on how to prepare their returns to minimize unnecessary scrutiny, ensuring compliance and peace of mind. Key Timestamps: 00:01 – Introduction 00:52 – Defining High-Income Taxpayers 01:18 – IRS Scrutiny on High-Income Returns 02:12 – IRS Analytics and DIF Function 03:26 – Common Issues with Deductions 05:09 – IRS Handling of Complex Income Sources 06:17 – Impact of Multiple Income Sources 07:18 – Changes in Income and IRS Attention 08:38 – Example of High-Income Tax Scrutiny 09:57 – Material Participation and Losses 11:38 – Preparing for Filing to Avoid Scrutiny 12:02 – Importance of Accurate Reporting About the Show: Tax Problems Explained is a podcast dedicated to demystifying the complexities of the tax system for individuals and businesses alike. Hosted by experienced professionals, including attorneys and former IRS agents, the show offers in-depth discussions on tax issues, compliance, and strategies to resolve disputes. With a focus on clarity and practical advice, the series aims to empower listeners with the knowledge needed to navigate the often daunting world of taxes. Whether you're a taxpayer facing an audit or a business owner seeking guidance, Tax Problems Explained provides valuable insights to help you make informed decisions. For more information, visit our website: https://www.lawrencetullmann.com/
Aug 26

IRS Criminal Investigations: When Tax Issues Become Serious

Episode Summary: In this episode, host Leann Lyon is joined by Lawrence Ullmann, a seasoned expert with experience as a former IRS agent, attorney, and CPA. They delve into the critical distinctions between civil and criminal tax issues, emphasizing the role of intent in determining the nature of a tax case. Lawrence explains how a simple audit can escalate into a criminal investigation if evidence of intent to evade taxes is found. The discussion covers various indicators that might trigger a criminal investigation, such as maintaining two sets of books or altering invoices. Lawrence also provides insights into the investigative process, highlighting the importance of seeking legal counsel when faced with potential criminal charges. This episode equips listeners with valuable knowledge on how to navigate complex tax situations and understand the IRS's approach to tax compliance. Key Timestamps: 00:01 – Introduction 00:34 – Civil vs. Criminal Tax Matters 01:45 – Conduct Raising IRS Concerns 02:37 – Transition from Civil to Criminal Investigation 03:34 – Whistleblower and External Investigations 05:08 – IRS Indicators for Serious Pursuit 06:34 – Differences in Criminal Tax Investigations 07:58 – Case Duration and Investigation Techniques 08:52 – Example of Escalation from Audit 09:15 – Misunderstandings About IRS Triggers 10:50 – Impact of Filing Amended Returns 12:48 – Responding to Serious Tax Concerns 14:09 – Importance of Legal Representation 15:00 – Statute of Limitations in Criminal Tax Cases About the Show: Tax Problems Explained offers listeners a comprehensive understanding of tax issues from the unique perspectives of an attorney, CPA and former IRS agent. The show is designed for individuals and businesses seeking clarity on complex tax matters, with a focus on practical solutions and insights into the workings of the IRS. Each episode breaks down intricate topics into accessible discussions, aiming to empower listeners with the knowledge needed to navigate the tax system effectively. Whether dealing with civil tax issues or potential criminal investigations, Tax Problems Explained provides valuable guidance for anyone looking to resolve their tax challenges. For more information, visit our website: https://www.lawrencetullmann.com/
Aug 12

Why Trying to Wait Out the IRS Usually Backfires

Episode Summary: In this episode of Tax Problems Explained, host LeAnn Lyon is joined by Lawrence Ullmann, an experienced attorney, CPA, and former IRS agent, to discuss the critical topic of why delaying tax issues can lead to more complex problems. Lawrence shares insights into common reasons people postpone addressing tax matters, such as overwhelm, embarrassment, and procrastination. He explains the IRS's step-by-step escalation process when a taxpayer fails to respond to notices, highlighting how penalties and interest can accumulate rapidly. The episode provides a detailed example of the complications that arise when payroll taxes are neglected, and Lawrence offers practical advice on assessing the situation and deciding when to seek professional help. Listeners will gain a deeper understanding of the importance of timely responses to IRS communications and the potential financial impact of delaying action. Key Timestamps: 00:01 – Introduction 0:34 – Reasons for Delaying Tax Issues 1:50 – IRS Escalation Process 2:27 – Consequences of Ignoring IRS Notices 4:00 – Penalties and Interest Accumulation 4:36 – Example: Payroll Tax Delays 6:04 – Enforced Collection Actions 7:08 – Steps to Take When Behind on Taxes 8:24 – Business vs. Individual Tax Issues 9:09 – Final Advice for Delinquent Taxpayers About the Show: Tax Problems Explained offers listeners a comprehensive look into the complexities of the tax system from the perspective of an attorney, CPA, and former IRS agent. The show is designed for individuals and businesses seeking clarity on tax-related issues and practical solutions for resolving them. With a focus on real-world examples and expert insights, the podcast aims to demystify tax processes and provide actionable advice. Whether you're facing a tax dilemma or simply want to understand the system better, Tax Problems Explained delivers valuable information in an accessible and engaging format.
Jul 29

Navigating Tax Challenges for Small Business Owners

Episode Summary: In this episode of Tax Problems Explained, host LeAnn Lyon sits down with Lawrence T. Ullmann, a seasoned expert with decades of experience inside the IRS and private practice. They delve into the common tax issues faced by small business owners, emphasizing the importance of proper financial management and the separation of business and personal finances. Lawrence explains how inadequate bookkeeping, improper payroll tax handling, and failure to document deductions can lead to serious IRS scrutiny. The discussion also covers the consequences of underreporting income, even unintentionally, and the severe penalties associated with payroll tax errors. By the end of the episode, listeners gain valuable insights into avoiding these pitfalls and ensuring compliance with tax obligations, thereby safeguarding their businesses from costly mistakes. Key Timestamps: 00:01 – Introduction 00:51 – Common Tax Issues for Small Businesses 01:18 – Importance of Accurate Bookkeeping 02:23 – Separating Business and Personal Finances 04:30 – IRS Response to Improper Deductions 05:25 – Consequences of Underreporting Income 07:04 – Challenges with Payroll and Employment Taxes 09:39 – Estimated Taxes for Small Business Owners 11:42 – Penalties for Late Tax Payments 12:54 – Real Estate Agent Tax Challenges 13:59 – Ignoring IRS Notices and Consequences 14:19 – Steps to Take When Receiving an IRS Notice About the Show: Tax Problems Explained offers a comprehensive look at tax issues from the perspectives of an attorney, a CPA, and a former IRS agent. The show is designed for business owners and individuals seeking to understand the complexities of the tax system and how to navigate it effectively. With a focus on clarity and practical advice, each episode breaks down specific tax challenges and provides actionable solutions. Whether you're dealing with payroll taxes, deductions, or IRS audits, Tax Problems Explained equips you with the knowledge to manage your tax responsibilities confidently.
Jul 15

Navigating IRS Penalties: Reduction and Removal Strategies

Episode Summary: In this episode of Tax Problems Explained, host LeAnn Lyon sits down with Lawrence T. Ullmann, a seasoned tax professional with extensive experience inside the IRS and in private practice. They delve into the complexities of IRS penalties, focusing on when they may be reduced or removed. Lawrence outlines the most common penalties, such as failure to file and failure to pay, and explains the circumstances under which the IRS might consider abatement. The discussion covers first-time abatement, reasonable cause, and the importance of proper documentation. Lawrence also provides real-world examples of cases where penalties were successfully reduced, emphasizing the need for timely action and professional guidance. Listeners will gain valuable insights into navigating IRS penalty issues, understanding the factors that influence abatement decisions, and the steps necessary to potentially reduce penalties. Key Timestamps: 00:01 – Introduction 00:35 – Common IRS Penalties Explained 01:27 – Reasons for Imposing Penalties 02:16 – Circumstances for Penalty Reduction 02:37 – First-Time Abatement Explained 03:24 – Reasonable Cause for Abatement 04:32 – Reliance on Professional Advice 05:25 – Factors Influencing Penalty Reduction 06:27 – Situations Where Penalties Are Not Reduced 07:34 – Example of Successful Penalty Abatement 09:36 – Misconceptions About Automatic Penalty Reduction 10:19 – Key Considerations for Addressing Penalties About the Show: Tax Problems Explained is a podcast dedicated to demystifying the complexities of the tax system for individuals and businesses. Hosted by experienced professionals, the show offers practical advice and insights into tax issues, compliance, and resolution strategies. Each episode features in-depth discussions on topics such as IRS penalties, audits, and tax planning. The series aims to empower listeners with the knowledge needed to navigate tax challenges effectively and make informed decisions. Whether you're a taxpayer seeking clarity or a professional looking for expert perspectives, Tax Problems Explained provides valuable guidance in an accessible format.
Jul 1

What Happens When You Owe Back Taxes to the IRS

Episode Summary: In this episode of Tax Problems Explained, host LeAnn Lyon sits down with Lawrence Ullmann, a seasoned attorney with extensive IRS experience, to demystify the IRS collection process. Lawrence explains the progression from initial tax liability assessment to the various stages of IRS enforcement, including soft collections, CP letters, and potential asset seizures. He highlights the importance of communication with the IRS and discusses options like installment agreements, offers in compromise, and bankruptcy for resolving tax debts. Lawrence also shares real-life examples, such as a client facing passport restrictions due to unpaid taxes, and offers advice on avoiding scams. This episode is essential for anyone dealing with IRS tax issues, offering practical solutions and insights into managing and resolving tax liabilities effectively. Key Timestamps: 00:01 – Introduction 00:51 – Initial IRS Collection Process 01:24 – IRS Notification Methods 01:44 – Escalation of IRS Collection Efforts 02:33 – Final Notice and Enforcement Actions 03:28 – Role of Automatic Collection Services 04:23 – Passport Restrictions Due to Tax Debt 05:19 – IRS Collection Tools and Asset Seizure 06:46 – Impact of Interest and Penalties 08:04 – Options for Unpaid Tax Debts 09:34 – Offer in Compromise Explained 10:38 – Bankruptcy as a Last Resort 12:22 – Consequences of Ignoring Tax Debt 14:08 – Avoiding IRS Scams About the Show: Tax Problems Explained is a podcast designed for individuals and businesses seeking clarity on complex tax issues. Hosted by experts with backgrounds in law, accounting, and IRS operations, the show provides in-depth discussions on tax liabilities, collection processes, and resolution strategies. Each episode aims to empower listeners with knowledge and practical advice to navigate the intricacies of the tax system confidently. Whether you're facing back taxes or simply want to understand the IRS better, Tax Problems Explained offers valuable insights and solutions.
Jun 17

Canceled Debt and Taxes: Why Forgiven Debt Can Become Taxable Income

Episode Summary: In this episode of Tax Problems Explained, host LeAnn is joined by Lawrence Ullmann, a seasoned professional with extensive experience in the IRS and private practice. They delve into the complexities surrounding canceled debt and its potential tax implications. Lawrence explains why forgiven debt can still lead to a tax obligation, using real-world examples like credit card debt reduction and mortgage reformation. The discussion covers how the IRS defines canceled debt, the role of insolvency, and the importance of the 1099-C form. Lawrence emphasizes the need for professional guidance when dealing with canceled debt, especially in complex situations involving bankruptcy or insolvency. Listeners will gain valuable insights into how to manage canceled debt and avoid escalating tax problems. Key Timestamps: 00:01 – Introduction 00:36 – Understanding Canceled Debt and Tax Obligations 01:02 – Why Forgiven Debt Can Be Taxable 03:14 – IRS Definition of Canceled Debt 03:52 – Common Situations Leading to Canceled Debt Income 05:21 – Reporting Canceled Debt to Taxpayers 05:59 – Exceptions to Taxable Canceled Debt 06:26 – Insolvency and Its Tax Implications 07:41 – Avoiding Tax on Canceled Debt Through Insolvency 08:57 – Example of Canceled Debt and Tax Reporting 10:09 – Consequences of Ignoring Canceled Debt Notices 11:37 – Determining Solvency 13:22 – Importance of Professional Guidance in Complex Cases About the Show: Tax Problems Explained offers listeners a comprehensive look into the intricacies of tax issues from the perspectives of an attorney, a CPA, and a former IRS agent. The show is designed for individuals and businesses seeking to understand and resolve tax challenges effectively. Each episode breaks down complex tax topics into understandable insights, providing practical advice and strategies. With a focus on clarity and expert knowledge, the series aims to empower listeners with the tools they need to navigate the tax system confidently.

See All (14)

Creator

The Legal Podcast Network (LPN)
Years Active

2026
Episodes

14
Rating

Clean
Show Website

Tax Problems Explained

Tax Problems Explained

Episodes

Offer in Compromise: Can You Really Settle IRS Tax Debt for Less?

What the IRS Looks for in High-Income Individual Returns

IRS Criminal Investigations: When Tax Issues Become Serious

Why Trying to Wait Out the IRS Usually Backfires

Navigating Tax Challenges for Small Business Owners

Navigating IRS Penalties: Reduction and Removal Strategies

What Happens When You Owe Back Taxes to the IRS

Canceled Debt and Taxes: Why Forgiven Debt Can Become Taxable Income

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