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Wichita Kansas Form 4180: What You Should Know

IRA Owner is responsible for obtaining the Form 4180 from the  RO that conducted your personal interview When Does an IRS Form 4180 Interview Occur? A form 4180 can only be issued to an individual  (or other person) if the IRS begins an investigation of that person by conducting a personal interview with the  IRS Individual Withholding Agent (IRA). The IRA will determine the Trust Fund Recovery Penalty  by collecting and analyzing data regarding your individual income tax return. The  IRA will then submit the report to the IRS Personal Request Officer (PRO) at the appropriate tax  collection agency; in return for a fee, the PRO may issue an individual income tax  refund order for the estimated tax due on that tax return. Generally, if Form 4180 is  issued to an individual, the time frame for the form 4180 includes the time  between the time of your interview with the IRS Individual Withholding Agent (IRA), and  the time that the IRS may issue the refund request to you (IRS Form 1040) or any part thereof. If the PRO does not receive the Form 4180 in timely fashion, no refund of tax is due. Once the Form 4180 is issued, you must pay the federal income tax due (see  Line 7, Form K-40. If you filed a joint returns within the last two years, your total  Federal Tax Liability can be as much as 150,000; the total amount of Federal Penalty and interest  can be as much as the amount of the Federal Tax you expect to pay, but less than the total of the  Total Amount of Federal Tax Liability plus interest paid (including late fees and interest)  The federal penalties for failure to pay are 10,000 plus interest if the taxpayer is not a foreign bank. The interest that is not paid must be treated for federal tax purposes as income (see  IRS Notice 3164, Penalty and Interest for U.S. Taxpayers With Income From Certain Foreign Banks For Tax Years Beginning After December 31, 2004). Line 7, Form K-40 is for tax year 2016, 2017, 2018, or 2019. The IRS will send a letter (SUBMIT TARIFF REQUEST AND FILL OUT INDIVIDUAL FORM 4180 for all your accounts and accounts receivable.

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