Taxpayers with tax debt soon learn that the actual amount of tax they originally owed the IRS or State is only a part of the amount they now owe overall. The balance may be much larger due to the assessment of penalties and interest. Although many find it shocking, it is not uncommon to balances… Continue reading →
The Blog
Business Tax Debt from Back Payroll Taxes is Devastating to Staff and Owners.
In light of the current economic slowdown and the tightening of credit, it is more common than ever for employers find themselves burdened with unpaid payroll taxes. Business owners generally match the employment taxes withheld from their employees’ pay checks and remit those to the IRS along with the standard federal and state tax withholdings…. Continue reading →
Policy Change for Tax Settlements Involving Innocent Spouse Relief
The Internal Revenue Service has changed their policy regarding those tax settlements dealing with a request for Innocent Spouse Relief. Originally there was a two year limit on the innocent spouse relief, but effective Monday, July 25, 2011, that has been eliminated. The IRS initiated a review of the equitable relief provisions of the innocent… Continue reading →
States Offer Short Sale Assistance to Taxpayers
When assisting clients with complicated tax settlements, taxpayers often find that the IRS and States have filed tax liens to protect their interests in back taxes owed. Tax liens can cause numerous problems, including damage to credit reports and also make the sale of property more difficult. Many people, who are facing financial difficulties, are… Continue reading →
Prison Inmate Scams IRS by Preparing False Tax Returns for Other Prisoners
An inmate held at Riverfront State Prison in Camden, New Jersey pleaded guilty to aiding and assisting in the preparation of false and fraudulent tax returns on June 27. The inmate faces three additional years in prison and a $250,000 fine at sentencing, which is scheduled for October. He admitted that he helped other inmates… Continue reading →
IRS Violates Taxpayers’ Tax Lien Rights Regarding Tax Debt
Do you have unfiled taxes, or unpaid tax debt? If so, there’s a chance the IRS has, or will file a tax lien or wage garnishment for any uncollected tax debt. However, there are legal requirements the IRS must follow before doing so. According to a new government report, nearly 33,000 taxpayers have been harmed… Continue reading →
