Failing to file tax returns can lead to immediate issues and problems that surface months or years later. The IRS won’t forget that you have delinquent tax returns, and the consequences can become more severe as time passes. You may face any or all of the following problems if you have unfiled tax returns.
If you’re having tax problems
Are you unable to resolve your tax debt? Very few things in life are as stressful as owing the IRS money, especially if you do not have the funds to pay what you owe. “So what should I do?” You are probably wondering. Well, this should not be a complicated issue if you can get… Read more »
The Internal Revenue Service, popularly known as the IRS, is the revenue service of the United States federal government that is tasked with the collection of taxes and enforcing of the Internal Revenue Code (IRC). Annually, scores of citizens face an audit of their individual tax returns by IRS – sometimes randomly or often following any… Read more »
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 »
Are you unable to pay your taxes before the fast approaching filing deadline? Are your tax bills amounting to an outrageous sum that you cannot be able to clear in time? Whatever the case, pending bills, more so taxes, can be quite the headache because failure to pay up can damage your credit score, cost… Read more »
How to Figure Out if You Need to File a 2018 Tax Return 2018 tax returns are due April 15, 2019, but not everyone needs to file a tax return. Taxpayers most commonly need to file when they want a tax refund, when they earned more than the income threshold, or when they had self-employment… Read more »
What does it mean to have your tax refund offset? Instead of receiving the nice tax refund check you’ve been expecting, you get a notice in the mail. It says your tax refund has been offset. What does this mean?
Notice of Intent to Offset If you receive a Notice of Intent to Offset, your tax refund is going to be seized and put towards debt you owe to the IRS or another government agency. As part of the Treasury Offset Program (TOP), your tax refund checks are matched against any outstanding debts you owe… Read more »
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 »
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.