The U.S. federal tax-filing season that begins Friday will be among the most consequential in recent history, as households face potential surprises — both negative and positive — sorting through pandemic-related measures at a time of high unemployment and depressed consumer confidence. Millions of people are still missing some or all of the $1,200 and $600 […]

Seeking the help of an accountant or tax preparer is one of the best ways to identify deductions, reduce tax liability and make sure your return is correct before filing with the IRS.  But every now and then, something happens that forces a big change in your tax situation. And when a new life event or […]

 “Settle Your Back Taxes for a Fraction of What You Owe – Tax Evaluation Waiting! Stop IRS Collections Now.” –Google search ad results, September 2018 What’s true is that the IRS has a program that allows taxpayers to settle their tax debts for less than the amount they owe. The formal name for this tax […]

The U.S. Tax Court has rejected Wesley Snipes’ appeal of the IRS’s rejection of his offer in compromise. Snipes has federal deliquent tax liabilities of approximately $23.5 million for tax years 2001-2006, largely as a result of his failure to file tax returns. The movie actor served three years in prison for failure to file […]

Information About IRS Wage Levies If the IRS levies (seizes) your wages, part of your wages will be sent to the IRS each pay period until: You make other arrangements to pay your overdue taxes, The amount of overdue taxes you owe is paid, or The levy is released. Part of your wages may be […]

A levy is a legal seizure of your property to satisfy a tax debt. Levies are different from liens. A lien is a legal claim against property to secure payment of the tax debt, while a levy actually takes the property to satisfy the tax debt. Where does Internal Revenue Service (IRS) authority to levy […]

Imagine you want to sell a home but a federal tax lien for delinquent taxes has been filed against it.  You do not have the money to pay off the lien, and even selling the house will not generate enough money to pay it, or it will not generate any money at all to pay […]

Things are changing in IRS collections.  The IRS never cold called taxpayers.  But that may change.  And it opens the door for more scams. Federal law now allows the IRS to use private debt collectors to hunt down certain delinquent accounts, typically old debts from taxpayers who have been hard to locate. •If your account […]