When you owe money to the IRS, you can typically set up a payment plan. But what happens if your financial situation changes before you’ve completed your payments, and you default on your plan? Find out what to do if you default on your IRS payment plan, and how a tax attorney can help.
If you’re having tax problems
You might be unaware that you have unfiled tax returns until you get a notification from the IRS. These notifications can take on many forms, so it’s important to hire a tax attorney to help guide you through the paperwork and the next steps to navigate the exemptions, credits, and deductions you are entitled to.
Do you owe money to the IRS that has resulted in a Notice of Federal Tax Lien being filed, or a levy action being taken? If you think this action is unwarranted, you can file a Collection Due Process appeal. If you are facing these actions, find out how hiring a tax attorney can help… Read more »
As a tax preparer, you can face stiff criminal penalties for falsified tax documents. When the IRS notifies you of a potential penalty, it’s important to take the right steps from the beginning – including contacting a tax attorney. Learn more about what types of issues can get you in trouble with the IRS, what… Read more »
Being in debt is not pleasant…and tax debt is no different. While filing for bankruptcy may help you with most debts, it is not always the best solution for dealing with IRS debts. One of the most popular ways for dealing with IRS debts is by settling tax debts through the Offer in Compromise Program.
According to IRS statistics, 146 million U.S. taxpayers file their income tax returns each year. Meanwhile, about 7 million taxpayers fail to file their required income tax returns. If you are part of the 5% who have not filed, this article is for you.
The IRS can assess back taxes, interest, and penalties for the failure to report Bitcoin Income. The IRS has made Bitcoin tax compliance a priority as part of its Virtual Currency Compliance campaign.
If you can’t pay your tax debt in full, you may still have options for avoiding an IRS tax lien. The IRS allows certain taxpayers to receive a lien withdrawal, lien discharge, or lien subordination.
Representing yourself during an IRS audit can be a risky decision. You’ll be at a major disadvantage because the IRS examiner understands tax laws and IRS procedures much better than most taxpayers. Contact a tax audit defense attorney if you want help during the audit process.
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 debt collection.