Perhaps no other action taken by the IRS is more disruptive, surprising, and panic-inducing than an IRS bank levy on your checking or savings account. With one notice sent to your bank, the IRS can seize every penny you’ve got, and apply it toward your tax bill. To make it worse, you may never realize …
In this blog, I’m going to talk about situations that I truly hope you don’t find yourself in. I’m going to talk about the narrow circumstances under which the IRS can force you in front of a court of law, or even put you in jail. Knowing what kinds of behaviors could trigger the wrath …
Can I Wind Up in Jail or Prison for Unpaid IRS Taxes? Read More »
Benjamin Franklin once said that nothing is certain in this life but death and taxes. I’ll agree that none of us will cheat death. But I may quibble with Mr. Franklin on the issue of whether or not you have to pay all of your taxes. Under the right set of circumstances, full payment of …
Can I Resolve Back Taxes By Qualifying For Currently Not Collectible Status? Read More »
When the Internal Revenue Service created the Offer in Compromise program, the candidates they probably had in mind were those people who were struggling to keep the lights on, feed and clothe themselves and their children, and keep a roof over their heads. The ideal candidate, they most likely surmised, is not a for-profit business. …
Can My Business Settle IRS With Business Offer in Compromise? Read More »
The Internal Revenue Service is one of the largest government agencies in the world. With around 90,000 employees and a budget in the billions, it’s truly an empire within our government, and its rules and regulations are not wholly known by any one single human being. Therefore, as you can imagine, it’s possible that the …
Recently I was engaged in a heated discussion with an IRS Appeals Settlement Officer. The subject was an Offer in Compromise (Tax Settlement) I had filed on a client’s behalf. The IRS did not want to approve our Offer because they noticed that my client had been late with a few tax payments during the …
Barking Up the IRS Chain of Command – Getting Results by Working the Bureaucracy Read More »
You have read the Form 656, IRS Offer in Compromise booklet, the rules under the Fresh Start Initiative, and perhaps even hired an attorney or other representative to help you submit your Offer in Compromise to the IRS. You feel you have sent in a complete Offer, with all documentation attached. You feel the IRS should …
IRS Offer in Compromise: Common Challenges to Approval Read More »
Can I be held personally liable for unpaid 941 employer withholding taxes? What can be done to avoid this/protect personal assets/income? If you are an owner, officer, check-signer or decision-maker at a business that is behind on 941 taxes, you are at risk of being personally assessed with a penalty – called the Trust Fund …
Personal Liability for Unpaid Employer Withholding Taxes Read More »
