The IRS has now made some new changes in its letter -forwarding services. Under this new approach, the IRS has recently stated that they will not provide letter –forwarding services to locate a taxpayer that may be owed assets from an individual, company, or organization. This is important news for missing taxpayers that may be… Continue reading →
Red Flags to the IRS – Audit Statistics
Business Tax Audit Advice From Former IRS Commissioner
An audit can be both an alarming and bothersome time for a business. Here are some simple and helpful steps from the Commissioner of the IRS to make the process go as smoothly as possible. These suggestions are especially useful to small and medium sized businesses. How to Maneuver the Audit Process: 1…. Continue reading →
Tax Debt Incurred By Medicaid Providers
A new study by the Government Accountability Office discovered that the 7,000 Medicaid providers had an estimated $791 million in unpaid federal taxes from 2009 or earlier, but still received about $6.6 billion in Medicaid reimbursements that year. The three chosen states were Texas, Florida, and New York. Around 40 Medicaid providers were researched. They… Continue reading →
IRS – Offer In Compromise Changes To Help Struggling Taxpayers
The IRS has expanded its “Fresh Start” program by providing more flexible terms in its Offer-in-Compromise program. This will allow more financially distressed taxpayers to clear up their tax problems quicker than in the past. The changes announced by the IRS include revising the calculation for the taxpayer’s future income, allowing taxpayers to repay their… Continue reading →
IRS Levy – Must Follow Legal Guidelines
A tax levy is the confiscation of a taxpayer’s property for the purpose of covering a tax debt. It is one of the final steps taken by the IRS in the enforced collection of back taxes and is usually carried out only after all previous attempts to collect a tax debt have failed. Before the… Continue reading →
