IRS Levy Procedures The IRS must follow certain procedures before seizing your property. Typically, that process goes something like this: You receive a notice stating that tax has been assessed and asking you to pay it. You don’t pay or resolve the matter by the deadline. A Final Notice of Intent to Levy is sent… [Read More]
Important Notice: Consumer Alert from the Attorney General on “Tax Relief” ScamsWhen to Make an Administrative Wrongful Levy Claim
What is an Administrative Wrongful Levy Claim? You can file an administrative wrongful levy claim when the IRS seizes property to collect tax revenue owed by another person and you have a superior right to this property. This typically means you either own the property or have a security interest that was filed before any… [Read More]
How to Recover Damages for an IRS Error
Recovering Damages You may be able to recover economic damages if an IRS error ends up costing you money. However, the circumstances under which you can recover damages are quite limited.
Resolving Trust Fund Recovery Penalty Disputes
What are Trust Fund Taxes? Trust fund taxes include the Social Security, Medicare, and federal income tax a business withholds from its employees’ wages. These amounts are held in trust by the business until they are transferred to the IRS.
5 Signs of an Impending Tax Evasion Prosecution
The IRS examination An IRS examination is a standard procedure, and unless you actually have something to hide the process should not worry you one bit. However, there is the possibility that your tax audit may transform from a civil tax examination to a criminal tax case such as tax evasion. If this happens then… [Read More]
All You Need to Know About The Tax Evasion Statute
But what exactly is tax evasion? As defined within the 26 United States Code section 7201 by the Internal Revenue Code, failure to report taxes accurately, failure to report taxes and failure to pay taxes are all forms of tax evasion. In order to establish a case of tax evasion against you the government is… [Read More]
All You Need to Know About The Tax Evasion Statute
But what exactly is tax evasion? As defined within the 26 United States Code section 7201 by the Internal Revenue Code, failure to report taxes accurately, failure to report taxes and failure to pay taxes are all forms of tax evasion. In order to establish a case of tax evasion against you the government is… [Read More]
Appealing the Findings of Your IRS Examiner: Should You Appeal?
All you need to know about appealing your IRS findings The Internal Revenue Service better known as the IRS is the governmental agency that ensures that you “give Caesar what belongs to Caesar”. In other words, it conducts the fundamental function of tax collection on a nationwide scale. And so given the importance of the… [Read More]
Tips to Avoid an Underpayment of Estimated Tax Bill
What Are Estimated Taxes and Who Must Pay Them? According to the Internal Revenue Service (IRS), estimated tax is “a method of paying tax on income that is not subject to withholding tax. This type of tax can include income from self-employment, business earnings, interest, rent, dividends, and other sources.” The IRS states that estimated… [Read More]
The IRS Virtual Appeals Program: Is It Worth It?
What Is the IRS Virtual Appeals Program? Every year, the Internal Revenue Service (IRS) hears more than 100,000 appeals from taxpayers who hope to solve their tax disputes without the need to go to court. The vast majority of those appeals are handled via the phone, where individuals can state their case to an IRS… [Read More]