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Category: Michigan Tax Blog

Does your spouse want to out you to the IRS?

Whistle blowers are among the favorite heroes loved by the IRS. In fact, the IRS loves them so much that it has a program that may award a whistle blower up to 30% of the evaded tax or penalty it collects. While this should not be a problem to anyone that pays their taxes dutifully,… Read more »

IRS Payment Extensions for Undue Hardship

IRS Form 1127

How to Get an IRS Payment Extension Taxpayers can request a payment extension of six months or more if paying the tax on time will cause an undue hardship. Use Form 1127 to file this request extra time to pay your taxes without incurring late-payment penalties.

3 Types of IRS Penalty Abatement

tax penalty relief

What is a Tax Penalty Abatement? Taxpayers with unfiled tax returns or unpaid taxes are often hit with the following IRS penalties: The failure-to-file penalty, which accrues at 5% of your unpaid taxes per month The failure-to-pay penalty, which accrues at 0.5% of your unpaid taxes per month

5 Signs You Need to Contact a Tax Resolution Attorney

when to contact a tax attorney

When to Contact a Tax Resolution Attorney Tax problems often start small—you’re a little late filing your return or making a tax payment. These issues can quickly become worse because of penalties, interest, and the challenge of paying back taxes and meeting your current obligations at the same time.

What Are the IRS Streamlined Filing Compliance Procedures?

Streamlined Filing Compliance Procedures_ What Are They and Are You Eligible

Many people may wonder what constitutes the IRS streamlined filing compliance procedures. The IRS streamlined filing compliance procedures are a system of procedures which allows US taxpayers the ability to acknowledge their failure to  report all of their foreign assets, as well as to certify that this failure to report all foreign financial assets, and… Read more »

The Tax Cuts and Jobs Act: Everything You Need to Know

The Tax Cuts and Jobs Act

With the recent changes to the tax code as a result of the Tax Cuts and Jobs Act (TCJA) signed into law by President Donald Trump, the Internal Revenue Service has issued guidance to taxpayers over potential issues pertaining to withholdings and reporting. The IRS is warning retirees in particular, as the new tax regulations may… Read more »

Payroll Tax Errors: Who Does the IRS Hold Accountable?

Payroll Tax Errors- Who Does the IRS Hold Accountable?

If you are an employer or employee who has fallen behind on payroll taxes and are now facing a hefty bill from the Internal Revenue Service, ignoring it will not make it go away. When it comes to unpaid payroll taxes, the IRS often comes down much harder on taxpayers than they do with unpaid… Read more »

What is the Difference Between a 433 A, B and F?

IRS 433 Forms

IRS Forms 433-A, 433-B, and 433-F – An Overview The IRS has three information collection statement forms namely IRS Form 433A, IRS Form 433B, and IRS Form 433F. Their basic function is to relay to the IRS your financial assortments in a structure of the IRS’s choosing. That way the IRS is able to determine… Read more »

What to Know About the 1099-K

What to Know About the 1099-K

IRS Form 1099-K is a form used by the Internal Revenue Service to report certain transactions to improve voluntary tax payments and compliance. The form originated in 2008 as part of the Housing Assistance Tax Act, even though the document has nothing to do with housing at all. A 1099-K is required for those who… Read more »

What to look for in a tax attorney

tax lawyer

7 Things to Look for When Hiring a Tax Lawyer Having a tax issue can be daunting. So can the task of having to find a tax attorney qualified enough to take on your tax matter. Here is a list of the top things to look for when hiring a tax lawyer.