The IRS has shown increasing willingness to work out installment agreements with individuals and business entities that could not meet their tax obligations. But that doesn’t mean you can shirk your current responsibilities. Accordingly, in a new case, Coastal Luxury Management,
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TOPICS IN THIS ISSUE: Tax Levy: What It Is, How It Works and How to Stop One What Is A Tax Lien? IRS corrects error in Schedule D tax calculation worksheet 3 Great New Tax Videos! IRS TAX TIP: Taxpayer
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Tax levies put your assets at risk. To remove them, you’ll need to work with the IRS to pay your back taxes.
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A tax lien can be used by the IRS or other taxing authority in the event that you don’t pay some or all of the tax that you owe.
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All taxpayers have fundamental rights when working with the IRS. The agency outlines them on IRS.gov and in Publication 1. To help taxpayers understand their rights, here is a list of them with a brief description of each one:
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You don’t want to play chicken with the Internal Revenue Service. Tax season is over, and the vast majority of taxpayers have filed their returns and paid any outstanding taxes they owed. But for a significant number of people, paying
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Just under 500 lawsuits were filed in 2018 in federal courts across the country by private attorneys seeking money for the federal government.
The lawsuits are a mostly unknown part of an industry of private collectors working on behalf of the federal government to track down student loan payments. It’s a system that showcases how student loan debt is different from all other kinds of debt: It can’t be written off in bankruptcy and, because it’s owned by the federal government, long-term unpaid debt is never written off, but relentlessly tracked down.
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The Volunteer Income Tax Assistance (VITA) program offers free tax help to people who generally make $55,000 or less, persons with disabilities and limited English speaking taxpayers who need assistance in preparing their own tax returns. IRS-certified volunteers provide free basic income tax return preparation with electronic filing to qualified individuals.
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No one wants a visit from the Internal Revenue Service. But if you get too generous with your calculations, you may need to back up your tax return.
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What You Need to Do If You Plan to Travel Abroad and Have Unpaid Federal Taxes WRITTEN BY: Rosenberg Martin Greenberg LLP Last week, the Internal Revenue Service (“IRS”) published another friendly reminder that it was recently vested with the
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It’s not your imagination: It really is a different kind of tax season. It’s so different that the National Taxpayers Union Foundation (NTUF), a nonpartisan research and educational organization, is calling on Congress to extend the filing season. by Kelly Phillips
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You can maximize your tax refund in several ways — from paying off high-interest debt to investing in a business or saving for retirement. One or more of these options could be the perfect fit for you.
Read more →TOPICS IN THIS ISSUE: NEW! For 2019…Tax Videos to help you understand new tax laws and deal with special situations. Surprise, no tax refund for you! What not to do if you owe the IRS. 5 Personal Finance Podcasts Actually
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Experts explain ways to avoid the emotional storms of tax season. FROM THE WEBMD ARCHIVES Spring is the season when the cherry trees and cottonwoods bloom. For Barbara Halpern, spring is also the season when her workweek blooms to 80
Read more →TOPICS IN THIS ISSUE: IRS Releases New Not-Quite-Postcard-Sized Form 1040 For 2018, Plus New Schedules Tax Trends Heading Into 2019 White House Says IRS Will Pay Tax Refunds During Government Shutdown AICPA and NCCPAP ask IRS to suspend tax penalties
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