The Fresh Start Initiative
A Summary of the IRS Fresh Start Initiative Recently, you may have heard a lot about the Fresh Start Initiative in radio ads, tv advertisements, online and more—like it is some recent change the IRS...
View ArticleThe IRS is Now Using Collection Agencies
The IRS Is Now Using Private Debt Collectors. After years of warning taxpayers that the IRS will never cold call you to collect a tax debt, things are about to change as the IRS begins handing over...
View ArticleUnderstanding Federal Tax Liens
A federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. The lien protects the government’s interest in all your property, including real...
View ArticleArticle 0
Tax Fraud Blotter Fair Oaks, Calif.: Tax lawyer Hiram M. Martin, 71, who represented retired professional football player Antrel Rolle, has been sentenced to three years in prison today for...
View ArticleFive Truths About How Long the IRS Has to Collect Back Taxes
Will my IRS debt ever just go away? Will there ever be a time that the IRS will just leave me alone? Yes, and yes. The collection of most every IRS debt eventually ends, and that would include yours....
View ArticleThe IRS Collection Process
The IRS Collection Process: A Review of the Basics Procedure & Administration The IRS is the largest collection agency in the country and by far the strongest, empowered by Congress to take actions...
View ArticleTax Scams
Warwick, R.I.: Preparer Raymond Petrarca has pleaded guilty to 44 counts of filing fraudulent returns for clients. According to documents and information provided to the court, Petrarca owned and...
View ArticleTax Court Upholds Denial of Wesley Snipes’ Offer in Compromise
The U.S. Tax Court has rejected Wesley Snipes’ appeal of the IRS’s rejection of his offer in compromise. Snipes has federal deliquent tax liabilities of approximately $23.5 million for tax years...
View ArticleThe Fundamentals of the IRS Offer in Compromise Program
“Settle Your Back Taxes for a Fraction of What You Owe – Tax Evaluation Waiting! Stop IRS Collections Now.” –Google search ad results, September 2018 What’s true is that the IRS has a program that...
View ArticleSo Your Wife Embezzled $500,000 and the IRS Wants to Tax You
How one man used the ‘innocent spouse’ rule to win some relief in Tax Court From the Wall Street Journal Rick Jacobsen’s wife embezzled nearly $500,000. After her conviction, the Internal Revenue...
View ArticleWhat Are a Taxpayer’s Chances of an IRS Audit?
From Accounting Today As IRS budgets and audit staff continue to diminish, audit numbers are at an all-time low. But when you file your clients’ returns, the most common question persists: “How likely...
View ArticleThe Fresh Start Initiative
A Summary of the IRS Fresh Start Initiative Recently, you may have heard a lot about the Fresh Start Initiative in radio ads, tv advertisements, online and more—like it is some recent change the IRS...
View ArticleThe IRS is Now Using Collection Agencies
The IRS Is Now Using Private Debt Collectors. After years of warning taxpayers that the IRS will never cold call you to collect a tax debt, things are about to change as the IRS begins handing over...
View ArticleArticle 0
Tax Fraud Blotter Fair Oaks, Calif.: Tax lawyer Hiram M. Martin, 71, who represented retired professional football player Antrel Rolle, has been sentenced to three years in prison today for...
View ArticleNew Risks for Tax Audits
Cuts in the IRS budget from $14 billion in 2010 to approximately $12 billion in 2017 have resulted in staff reductions by about one-third during that time frame. IRS staffing dropped to less than...
View ArticleWhen Can the IRS Levy my Property or Garnish my Wages?
Before the IRS can levy a taxpayer on an outstanding balance, it must issue a series of notices or letters regarding the outstanding balance due. A taxpayer will receive their first notice regarding...
View ArticleA Summary of the Fresh Start Initiative
The IRS officially launched the Fresh Start initiative (FSI) in 2011 in order to help taxpayers get a “fresh start” with their tax debt. The goal of the program was to help taxpayers and small...
View ArticleThe IRS Wage Garnishment: How It Works.
The IRS has the power to garnish or legally seize any income you make to satisfy federal tax debt or taxes owed. Garnishments can apply to your hourly wages, salary, commissions, and bonuses. The IRS...
View ArticleWhat’s the Story on Estimated Taxes?
Taxes must be paid as you earn or receive income during the year, either through withholding or estimated tax payments. If the amount of income tax withheld from your salary or pension is not enough,...
View ArticleWiping the Tax Slate Clean.
It is sometimes possible to wipe your tax slate clean at an enormous discount. If you qualify for something known as the offer in compromise, referred to as an “offer” or “OIC,” the IRS will accept...
View Article