Tax Deadline for Citizens Living Abroad – The tax filing deadline for United States citizens living abroad is on the horizon. That deadline is June 15th (pushed to June 16th for 2014). This automatic two month tax extension is granted to all overseas residents and does not require an extension request. The only condition for… Continue reading →
Delinquent Returns
Government Employees Have Delinquent Tax Balances
Government Employees Have Delinquent Tax Balances – Various government workers have been in the news recently for their delinquent taxes. One article reported that over 1100 IRS employees who owed back taxes and had other tax related problems had, in fact, received bonuses. Another recent report divulged that, as of September 2013, various federal government… Continue reading →
The Tax Debt Debate
The Tax Debt Debate – One interesting provision of the Tax Extenders Bill that is currently stalled in the United States Senate is the privatization of tax debt collection activities. The Tax Extenders Bill, which is unlikely to be voted on again this month, contains a clause that suggests turning delinquent tax accounts over to private collection… Continue reading →
Tax Fraud Phone Scams on the Rise!
Tax Fraud Phone Scams on the Rise! – Although the 2014 tax season is officially over, it appears that tax scams are actually on the rise. In fact, just days after April 15th tax filing deadline, the IRS issued a warning alerting taxpayers of a phone scam that is the largest one of its kind… Continue reading →
Tax Penalties: Removing the Failure to Pay Penalty
Have you received an IRS notice of Failure to Pay? Last week, we discussed the IRS penalties and consequences of Failure to Pay, which is when a taxpayer fails to either meet a tax filing deadline, or make a tax payment by its due date. The consequences for Failure to File include 5% per month… Continue reading →
Tax Penalties: What is Failure to Pay?
A tax penalty is assessed when a taxpayer fails to meet a tax filing deadline or fails to make a tax payment when it is due. The IRS and State Tax Agencies impose such penalties as a method of encouraging taxpayers to meet their tax obligations. Both the Failure to File Penalty and the Failure… Continue reading →
