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Articles Posted in Bank Levy

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Payroll tax levy Employment tax levies Payroll Tax Problem

IRS provides guidance on new rules for employment tax levies Mike Habib, EA The IRS has issued interim guidance to its directors and collection area offices that explains when it is permissible to issue a levy to collect employment taxes without first giving the taxpayer a pre-levy collection due process…

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Wage Garnishment? Bank Levy? Save your paycheck and bank account

Want to stop a wage levy or a bank levy? Read on…. Mike Habib, EA If you have not noticed, the IRS is getting more aggressive in their collection, and audit activities. Enforcement actions is at its highest level for years now! Here is the scoop directly from the IRS…

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IRS SFR Substitute For Return Unfiled Tax Returns Back Taxes Owed

Final substitute return regs adopt temporary and proposed regs with one minor changeT.D. 9380, 2/12/2008; Reg. § 301.6020-1 Mike Habib, EA In 2005, IRS issued temporary (also issued as proposed regs) that broadened the scope of when IRS-prepared substitute returns (SFR) are valid. Specifically, the temporary regs provide that a…

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Is the IRS knocking on your door? Don’t let them in!!

How to handle the IRS at your Front Door? Is a Revenue Officer or a Revenue Agent visiting you soon? If you find yourself face to face with an IRS Agent (Revenue Officer for collection issues, or Revenue Agent for audit and examination issues), at your front door you must…

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IRS Penalty Abatement – Don’t Pay the IRS Penalties!

alties, options to address your IRS tax penalty and more… The IRS has over 148 different types of penalties. And boy do they love to hand them out. The worst part is that the IRS also charges interest and additional penalties on the original penalty. So you must try to…

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Mortgage Tax Debt Relief, AMT Relief

Mortgage Tax Debt Relief, AMT Relief – why you need professional tax advice AMT relief. In general terms, to find out if you owe alternative minimum tax (AMT), you start with regular taxable income, modify it with various adjustments and preferences (such as add-backs for property and income tax deductions…

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Staying off the IRS Radar Screen

Nothing strikes terror in the heart of American taxpayers quite like finding a letter in the mailbox from the IRS! In an effort to help you avoid that unpleasant scenario, provided below are examples of some common pitfalls to avoid if you don’t want the IRS lining up to be…

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Greetings from the IRS

You’ve just picked up your mail and … uh oh, there among the ads, bills and too numerous offerings for credit cards is that official looking letter from the Internal Revenue Service. A feeling of dread comes over you…but don’t panic or toss it, and please DO open it. It…

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Solace for the Non-filer taxpayer

Has it been awhile since you filed a tax return? Feeling guilty? Scared? Don’t know what to do? Do you even need to file? Many people become non-filers each year for a number of reasons. They lose the paperwork, they couldn’t pay, or they forgot about it. Sometimes illness, family…

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Here’s a Resolution for ’08: No More Tax Problems

Facing an ever more aggressive Internal Revenue Service, Americans with tax debts should start 2008 with a fresh start and finally get rid of their looming tax problem(s). Are you asking yourself … If i have tax problems who should I contact? In case you hadn’t noticed, the taxman is…

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