Tax Relief BlogArticles Posted in IRS Tax Help
What is an Offer In Compromise OIC – Why you need professional representation
As per the IRS Offer in Compromise
If taxpayers are unable to pay a tax debt in full and an installment agreement is not an option, they may be able to take advantage of an offer in compromise (OIC). Generally, an OIC should be viewed as a last resort after taxpayers have explored all other available payment options. The IRS resolves less than one percent of all balance due accounts through the OIC program.
1099 Tax Reporting Requirements Corporations, LLCs, DBAs
Most common questions by corporations and other business entities on 1099 reporting requirements. Below is a direct IRS response to frequently asked question on 1099 issues.
IRS provides further guidance on Form 1099 reporting
IRS targets offshore bank accounts Tax Haven Abuse
IRS and treaty partners target Liechtenstein accounts
An IRS news release reports that IRS is initiating enforcement action involving more than 100 U.S. taxpayers to ensure proper income reporting and tax payment in connection with accounts in Liechtenstein.
Tax Controversy Services
As you probably know by now, I specialize in representing individuals and businesses before the IRS and any taxing authority.
IRS strengthened enforcement policies, along with their new and complex tax regulations, makes it essential to properly plan for and manage IRS examinations or collections efforts in a proactive manner. Applying new dispute resolution procedures and best practices is critical to managing IRS examinations or collections, resolving disputes at the earliest point, and containing administrative and tax costs. The Tax Controversy services we offer are:
IRS Tax Audit due to Tax Return Preparer Fraud
Tax Return Preparer Fraud
Since I recently represented an innocent couple who were victims of Tax Return Preparer Fraud, and successfully helped them in their audit, I thought you might be interested in the info below.
Per the IRS:
IRS SFR Substitute For Return Unfiled Tax Returns Back Taxes Owed
Final substitute return regs adopt temporary and proposed regs with one minor change
T.D. 9380, 2/12/2008; Reg. § 301.6020-1
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 document or set of documents (including a Form 13496, Code Sec. 6020(b) Certification) signed by an authorized IRS officer or employee is a “return” under Code Sec. 6020(b) if it identifies the taxpayer by name and taxpayer identification number, contains sufficient information to compute his tax liability, and purports to be a return. IRS has now adopted the temporary and proposed regs as final regs with one minor change.
