The IRS Debt and Audit Podcast

Episode Summary:  In this episode, tax attorney Brian discusses how the IRS assesses a taxpayer's ability to pay significant tax debts. He explains the concept of ability to pay, the financial information the IRS evaluates, and how it impacts resolution paths like installment agreements. Brian sheds light on the IRS's viewpoint on income, expenses, and assets, offering insights into navigating IRS...

Episode Summary:  In this episode, tax attorney Brian Loughrin discusses the implications of IRS installment agreements going into default. He explains common reasons for defaults, how the IRS responds, and the importance of staying compliant to avoid enforcement actions, offering valuable insights for taxpayers managing IRS debts. Key Timestamps: 00:00 – Introduction 0:47 – What Happens When an I...

Episode Summary:  Exploring the IRS's authority to seize business assets and shut down businesses due to tax issues. Tax attorney Brian discusses the types of tax problems that put businesses at risk and the escalation of enforcement actions. Learn how communication changes with the IRS and the importance of involving a tax attorney early to prevent severe consequences for your business. Key Times...

Episode Summary:  In this episode, tax attorney Brian breaks down the IRS financial disclosure process, focusing on the 433 series forms and how they impact resolving tax debt. Learn how these forms provide the IRS with crucial financial information to determine payment arrangements, offering valuable insights for individuals facing tax challenges. Key Timestamps: 00:00 – Introduction 1:02 – Role...

Episode Summary:  In this episode of the IRS Debt and Audit Podcast, tax attorney Brian Loughrin explains the IRS collection statute expiration date and how it impacts the timeline for collecting tax debt. Understanding this crucial concept can help individuals and business owners navigate their tax obligations effectively, offering actionable insight for anyone facing this challenge. Key Timestam...

Episode Summary:  In this episode, tax attorney Brian breaks down the trust fund recovery penalty, highlighting how unpaid payroll taxes can lead the IRS to pursue individuals personally. He explains the implications, responsibilities, and potential consequences for business owners facing IRS scrutiny, offering valuable insights for navigating tax challenges. Key Timestamps: 00:38 – Explaining the...

Episode Summary:  In this episode, tax attorney Brian Loughrin explains the significance of IRS revenue officers in tax matters, detailing when and why cases are assigned to them. He breaks down the differences between automated IRS collection processes and revenue officer involvement, emphasizing the communication changes and financial information required. Brian also shares insights on how havin...

Episode Summary: In this episode of the IRS Debt and Audit Podcast, tax attorney Brian Loughrin sheds light on the U.S. Tax Court, explaining its origins, functions, and how cases find their way into this specialized court. He clarifies that the U.S. Tax Court caters to individuals, small businesses, and large corporations, offering a platform to resolve federal tax disputes. Brian emphasizes the...

Episode Summary: In this episode, tax attorney Brian Loughrin sheds light on the distinctions between tax fraud, tax evasion, and common behaviors that may trigger the IRS to view a tax issue as criminal rather than civil. He explains how criminal investigations by the IRS are initiated, the importance of early legal intervention, and the potential penalties individuals may face in such cases. Key...

Episode Summary: In this episode, tax attorney Brian Loughrin sheds light on IRS audits, also known as examinations, and what triggers them. From income verification to deduction discrepancies, Brian simplifies the audit process and highlights common red flags that lead to closer scrutiny by the IRS. Listeners gain valuable insights on handling audit notices and the importance of timely responses...

Episode Summary: In this episode of the IRS Debt and Audit Podcast, tax attorney Brian Loughrin explains the concept of innocent spouse relief and how it can help individuals facing IRS debt due to their spouse's actions. He delves into the qualifications, process, and implications of seeking innocent spouse relief, offering valuable insights for those dealing with tax liabilities from a partner's...

Episode Summary: In this episode of the *IRS Debt and Audit Podcast*, the seasoned tax attorney, Brian Loughrin, sheds light on the importance of understanding IRS notices and letters that individuals receive. He emphasizes the significance of not ignoring these correspondences and explains how they can impact one's tax situation. Brian shares valuable insights on why responding promptly to IRS no...

Episode Summary: In this episode of the IRS Debt and Audit Podcast, tax attorney Brian Loughrin discusses crucial strategies for safeguarding business assets from IRS enforcement actions. From the potential risks of mixing personal and business finances to the importance of clean record-keeping, Brian offers valuable insights to help business owners navigate tax challenges effectively. Key Timesta...

Episode Summary:  In this episode of *IRS debt and audit podcast*, tax attorney Brian Loughrin sheds light on what to expect when an IRS audit notice arrives and how to effectively navigate the audit preparation process. From deciphering audit letters to organizing records and communicating with the IRS, Brian shares valuable insights for individuals and small business owners facing IRS scrutiny....

Episode Summary: In this episode of the *IRS Debt and Audit Podcast* tax attorney Brian Loughrin discusses the importance of keeping business structures simple for IRS compliance. He emphasizes the significance of maintaining a clear separation between personal and business finances to avoid complications with the IRS. Brian shares valuable insights on setting up designated business accounts and t...

Episode Summary: In this episode, Attorney Brian Loughrin explains why delaying action on IRS tax debt can quickly turn a manageable balance into a major financial problem. He breaks down how penalties and interest start accumulating, the difference between business and personal tax penalties, and what taxpayers can do to reduce or stop the damage before it’s too late. Key Timestamps: 00:00 – Why...

Episode Summary: Attorney Brian Loughrin, breaks down the different ways individuals and business owners can resolve IRS tax debt. From installment agreements and offers in compromise to penalty abatements and currently-not-collectible status, Brian explains how each program works, who qualifies, and what steps taxpayers should take before the IRS takes action. Key Timestamps: 00:00 – Overview of...

Episode Summary In this episode, Attorney Brian Loughrin explains why falling behind on payroll taxes is one of the most serious tax issues a business can face. He breaks down what payroll tax debt really is, why the IRS takes it so seriously, and how quickly they act when payments go unpaid. Brian also covers the trust fund recovery penalty—how it can make business owners personally and even crim...

Episode Summary: In this episode of The IRS Debt and Audit Podcast, seasoned tax attorney Brian Loughrin, who has over 25 years of experience representing taxpayers nationwide in audits, debt resolution, and IRS controversies, discusses what really happens when individuals or business owners fail to file their tax returns — and why waiting can make the situation exponentially worse. Brian explains...

Episode Summary In this episode of the IRS Debt and Audit Podcast, tax attorney Brian Loughrin explains what the IRS can legally seize beyond money in your bank account. From wage garnishments to property and even retirement accounts, Brian breaks down how far the IRS can go when collecting unpaid tax debt, and what taxpayers need to know to protect themselves. He also highlights why the IRS prefe...

Episode Summary In this episode of the IRS Debt and Audit Podcast, tax attorney Brian Loughrin explains the critical differences between an IRS tax lien and a tax levy, and why understanding the distinction can protect taxpayers from severe financial consequences. With over 25 years of experience in tax controversy and debt resolution, Brian shares real-world insights into how liens and levies wor...

Episode Summary In this episode of IRS Debt and Audit Podcast, tax attorney Brian Loughrin breaks down why self-employed workers, freelancers, and small business owners so often run into IRS tax problems — and what they can do to stay compliant. With over 25 years of experience in tax controversy and debt resolution, Brian shares practical strategies to prevent tax penalties, manage payroll obliga...

Episode Summary In this episode of IRS Debt and Audit Podcast, Florida tax attorney Brian Loughrin shares insights on who to turn to when you’re facing serious tax problems. With over 25 years of experience in tax controversy, audits, and debt resolution, Brian explains the differences between CPAs, enrolled agents, and tax attorneys — and why choosing the right professional can make or break your...