If you have received a wage garnishment notice (IRS Levy) that the IRS is instructing your employer to deduct a big chunk of your paycheck, it clearly means that you have an unpaid back tax debt. And what’s worse is, your employer is required by law to remit a significant…
Can the IRS levy an IRA for Back Taxes? Yes the IRS can levy your IRA for unpaid back taxes. Mr. Wayne Smith did not pay his back taxes after filing 3 years of tax returns. He owed the IRS around $36,000 of back taxes. He went to tax court,…
Skills of a Tax Representative Tax representative is a person who is a licensed tax professional representing individual or business taxpayers regarding their tax issues before the IRS or state taxing agency. Only Enrolled Agents, Tax Attorneys and CPAs are authorized by the IRS to represent taxpayers. Companies and individual…
Part 2 of 2 • Dishonored Check – A penalty is charged if a taxpayer’s check is returned because of insufficient funds. For checks of $1,250 or more, the penalty is 2% of the check amount. For checks less than $1,250, the penalty is the lesser of $25 or the…
Most tax penalties are substantial, punitive and can dramatically increase the overall tax bill. Penalties are assessed for a many reasons. Some tax penalties are due to a taxpayer’s carelessness or inattention to tax details. Other penalties are incurred due to the overstatement of deductions, the failure to report income,…
Tax Help Debt in taxes is a serious matter that should not be ignored. Compared to other debts, tax debts do not easily go away unless you find a viable solution to the problem. This is where tax help from the experts plays an important role in making sure that…
National Taxpayer Advocate Submits Mid-Year Report to Congress; Identifies Priority Challenges and Issues for Upcoming Year WASHINGTON — National Taxpayer Advocate Nina E. Olson today released a report to Congress that identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the coming fiscal year. The report expresses…
Tax Relief – Get tax debt relief today Reasonable Cause/Good Faith Defense: Even if the taxpayer did not have substantial authority for a position and failed to make adequate disclosure, the substantial understatement penalty does not apply if the taxpayer had reasonable cause for the tax underpayment and acted in…
Having Unfiled Tax Returns and need Help? Taxpayers with unfiled tax returns can invite a lot of problems. The famous IRS has coined ten years for the collection of taxes that are owed. If the return for owed taxes was filed ten years ago, the IRS will probably use the…
IRS Examples of Tax Nonfiler Investigations – Fiscal Year 2010 Mike Habib, EA 877-788-2937 The following examples of Nonfiler investigations are excerpts from public record documents on file in the court records in the judicial district in which the cases were prosecuted. Back taxes, unfiled tax returns, tax debt settlement,…