Code 560 IRS can assess tax in 2013
Posted: Tue Dec 11, 2012 4:40 pm
"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
>
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