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Code 560 IRS can assess tax in 2013
"So really all I'm risking is they try and assess him more taxes, which
is unlikely at this point, and only those future assessments would be
nondischargeable, right?"
Correct.
- John D. Faucher
818/889-8080
On 12/11/12 3:20 PM, Steven B. Lever wrote:
>
> Hi John;
>
> Thank you for the answer. My client claims to have never signed
> anything or had any correspondence with the IRS during 2011 when the
> 560 code was written in April of 2011.
>
> There is an article on the internet entitled "IRS commonly makes
> illegal Time Barred Assessments" It states:
>
> If your IMF MCC TRANSCRIPT-SPECIFIC shows a TC 560 then good chance
> the IRS has used this TC 560 to alter your IMF ASEDsessment Statute
> Expiration Date
>
> without your authorization. .To do it legally the IRS must receive
> your signature on *IRS **Form 872 "Consent to Extend the Time to
> Assess Tax". *If you have not signed this form then
>
> the IRS has most likely "lied" to the computer to extend the ASED
> illegally.
>
> I think there may be some merit here.
>
> In my client's case, there is no audit presently, and all the other
> taxes were either self-assessed or subsequently assessed by the IRS
> more than 240 days ago. The 2 and 3 year rules have already been
> satisfied as well.
>
> So really all I'm risking is they try and assess him more taxes, which
> is unlikely at this point, and only those future assessments would be
> nondischargeable, right?
>
> Steve
>
> *From:*cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] *On
> Behalf Of *John D. Faucher
> *Sent:* Tuesday, December 11, 2012 11:39 AM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* Re: [cdcbaa] Code 560 IRS can assess tax in 2013
>
> Hello Steven:
> This means that your client signed an assessment statute extension
> waiver. The IRS can audit him and assess additional tax until 8/29/2013.
> Is the client currently under audit? If so, whatever additional tax
> comes from the audit is not dischargeable until after it's assessed,
> plus 240 days. The amount of tax he has already self-assessed, i.e.,
> from filing his tax return, is dischargeable under the 3-year and
> 2-year rules.
> I hope this helps.
> - John D. Faucher
> 818/889-8080
>
> On 12/11/12 11:02 AM, Steven B. Lever wrote:
>
> Tax techies:
>
> I have a discharge income tax for tax year 2007 that meets all the
> dischargeability rules.
>
> However, there is a Code 560 that states "IRS can assess tax until
> 08-29-2013" that came on April 28, 2011.
>
> This is a red flag, because any taxes that are assessable can be
> assessed later, and the 240 day assessment rule does not apply.
>
> I've never seen this before.
>
> Please share any knowledge or opinions about this code you may have.
>
> Law Offices of Steven B. Lever
>
> >
>
> > Steven B. Lever
>
> >( Tel. (562) 436-5456 ext. 1
>
> >( Fax (562) 485-6886
>
> >* sblever@leverlaw.com
>
> >www.leverlaw.com
>
> > ******************************************************
>
> > This Internet e-mail contains confidential information
>
> > which is intended only for the addressee and which may
>
> > be privileged under applicable law. Do not read, copy
>
> > or disseminate it if you are not the addressee. If you
>
> > have received this message in error, please notify the
>
> > sender immediately and delete it. Thank you.
>
> > ******************************************************
>
>
The post was migrated from Yahoo.
Hi John;
Thank you for the answer. My client claims to have never signed
anything or had any correspondence with the IRS during 2011 when the 560
code was written in April of 2011.
There is an article on the internet entitled "IRS commonly makes illegal
Time Barred Assessments" It states:
If your IMF MCC TRANSCRIPT-SPECIFIC shows a TC 560 then good chance the
IRS has used this TC 560 to alter your IMF ASEDAssessment Statute
Expiration Date
without your authorization. .To do it legally the IRS must receive your
signature on IRS Form 872 "Consent to Extend the Time to Assess Tax". If
you have not signed this form then
the IRS has most likely "lied" to the computer to extend the ASED
illegally.
I think there may be some merit here.
In my client's case, there is no audit presently, and all the other
taxes were either self-assessed or subsequently assessed by the IRS more
than 240 days ago. The 2 and 3 year rules have already been satisfied
as well.
So really all I'm risking is they try and assess him more taxes, which
is unlikely at this point, and only those future assessments would be
nondischargeable, right?
Steve
The post was migrated from Yahoo.
Hello Steven:
This means that your client signed an assessment statute extension
waiver. The IRS can audit him and assess additionaltax until 8/29/2013.
Is the client currently under audit? If so, whatever additional tax
comes from the audit is not dischargeable until after it's assessed,
plus 240 days. The amount of tax he has already self-assessed, i.e.,
from filing his tax return, is dischargeable under the 3-year and 2-year
rules.
I hope this helps.
- John D. Faucher
818/889-8080
On 12/11/12 11:02 AM, Steven B. Lever wrote:
>
> Tax techies:
>
> I have a discharge income tax for tax year 2007 that meets all the
> dischargeability rules.
>
> However, there is a Code 560 that states "IRS can assess tax until
> 08-29-2013" that came on April 28, 2011.
>
> This is a red flag, because any taxes that are assessable can be
> assessed later, and the 240 day assessment rule does not apply.
>
> I've never seen this before.
>
> Please share any knowledge or opinions about this code you may have.
>
> Law Offices of Steven B. Lever
>
> >
>
> > Steven B. Lever
>
> >( Tel. (562) 436-5456 ext. 1
>
> >( Fax (562) 485-6886
>
> >* sblever@leverlaw.com
>
> >www.leverlaw.com
>
> > ******************************************************
>
> > This Internet e-mail contains confidential information
>
> > which is intended only for the addressee and which may
>
> > be privileged under applicable law. Do not read, copy
>
> > or disseminate it if you are not the addressee. If you
>
> > have received this message in error, please notify the
>
> > sender immediately and delete it. Thank you.
>
> > ******************************************************
>
>
The post was migrated from Yahoo.
Tax techies:
I have a discharge income tax for tax year 2007 that meets all the
dischargeability rules.
However, there is a Code 560 that states "IRS can assess tax until
08-29-2013" that came on April 28, 2011.
This is a red flag, because any taxes that are assessable can be
assessed later, and the 240 day assessment rule does not apply.
I've never seen this before.
Please share any knowledge or opinions about this code you may have.
Law Offices of Steven B. Lever
>
> Steven B. Lever
>( Tel. (562) 436-5456 ext. 1
>( Fax (562) 485-6886
>* sblever@leverlaw.com
> www.leverlaw.com
> ******************************************************
> This Internet e-mail contains confidential information
> which is intended only for the addressee and which may
> be privileged under applicable law. Do not read, copy
> or disseminate it if you are not the addressee. If you
> have received this message in error, please notify the
> sender immediately and delete it. Thank you.
> ******************************************************
The post was migrated from Yahoo.