The IRS generally has ten years to collect your tax debt from the time the tax is assessed. This period can be extended if certain events take place that toll the statute of limitations of tax ... Read More
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3 Things to Know Before You Request Innocent Spouse Relief
You may be able to eliminate some or all of your marital tax debt by requesting innocent spouse relief. If you think you may qualify, contact a tax attorney right away to discuss your case. ... Read More
FinCEN Form 8300 and the Marijuana Industry: The Electric Company Complex
If you own a cash-business (especially if you work in the marijuana industry – especially as a grower) then this article is for you. I have recently heard from a colleague about a tax issue that ... Read More
5 Benefits of Negotiating an IRS Installment Agreement
An IRS installment agreement is one of the best ways to resolve your tax debt problems. You can avoid most types of IRS collection actions and pay off several years of tax debt as long as you ... Read More
How Much Can the IRS Take in a Wage Garnishment?
The IRS is required to leave you with a minimum amount of monthly income when your wages are being garnished. The remaining funds will be seized and applied to your tax debt until your balance is ... Read More
When Can the IRS Seize Your Assets?
The IRS can generally seize your assets when you fail to pay your tax debt and the IRS has sent you the proper notices in the mail. Even if you owe tax debt and have received ... Read More
5 Ways the IRS Can Collect Your Delinquent Tax Debt
The IRS has a variety of methods it can use to collect delinquent tax debt. If you don’t voluntarily resolve your tax debt problems you may face IRS levies, wage garnishments, or other IRS enforced collection ... Read More
Is There Any Way to Avoid Paying FBAR Penalties?
You may be able to avoid paying FBAR penalties if you qualify for a delinquent FBAR submission or the Streamlined Compliance Procedures. These voluntary disclosure methods eliminate or reduce your tax penalties while getting you into reporting ... Read More
How Much Do You Have to Pay in FBAR penalties?
IRS examiners have discretion when assessing both willful and non-willful FBAR penalties. You could receive higher or lower FBAR penalties depending on the specific facts and circumstances of your case. ... Read More
3 Reasons to Make an Offshore Disclosure
Disclosing your unreported offshore accounts can give you peace of mind because you no longer have to worry about massive penalties or IRS criminal investigation. There are several reasons to act quickly and take advantage of ... Read More
