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Tag: IRS

When Will the IRS Forgive Tax Debt?

tax debt

The IRS does offer tax debt forgiveness options that settle your tax debt for less than what you owe. However, eligibility for these programs is based on your financial situation, so not all taxpayers will qualify. Offers in Compromise The Offer in Compromise (OIC) program provides tax debt forgiveness if your offer is accepted and… Read more »

Can the IRS Take Your Passport?

IRS passport denial

  The IRS can’t seize your passport, but they can let the State Department know if you have seriously delinquent tax debt. Once this happens, the State Department can deny your passport renewal or revoke your current passport. Before this happens, you’ll have several opportunities to resolve your tax problems and keep your right to… Read more »

Why Small Businesses Need IRS Tax Attorneys

  As the saying goes, there are two inevitabilities in life: taxes and death. Many small businesses are also faced with tax issues. That is because a lot of business owners don’t have the information and guidance needed to file their tax returns correctly. A good IRS tax attorney can save business owners stressful weeks… Read more »

Understanding The Basics of the New IRS Virtual Appeal

It is a common misconception among American taxpayers that the Internal Revenue Service (IRS) offices work at a slow pace (I mean… they’re not the post office. Amirite??). The IRS took a big step by offering an efficient and timeless program that allows taxpayers to hold “face to face” meetings with the IRS representatives – IRS… Read more »

The Federal Payment Levy Program

FPLP

What is the Federal Payment Levy Program (FPLP)? The Federal Payment Levy Program (FPLP) gives the IRS the right to seize a portion of certain payments you receive from the government. If you are a federal employee, a government contractor, or receiving Social Security benefits, your payments could be offset under the FPLP.

How to Prevent a Tax Seizure

How to Prevent a Tax Seizure

Preventing a Tax Seizure If you refuse, ignore or fail to pay your federal income taxes, the Internal Revenue Service has the legal right to seize your property. Property levies are the most severe action taken by the IRS. In case you are behind on the tax debt, you should understand how tax seizures work… Read more »

The IRS Can File a Substitute Return on Your Behalf

substitute for returns

What are the Drawbacks to Letting the IRS File an SFR on your behalf? If you don’t look forward to filing your taxes, having the IRS file your return for you might not sound so bad. However, there are several drawbacks to the Substitute for Return (SFR) filed by the IRS:

Negligence Versus Tax Fraud: How the IRS Tells the Difference

What is the Difference Between Negligence and Tax Fraud? The American taxpayer’s fear of the IRS is very similar to our fear of the dentist: irrational and rooted in nothing more than making mountains out of molehills. (most of the time). What do I mean by this? Well think about it.  Think back to the… Read more »