It’s the end of year and we’ve been talking about preparing for next year’s taxes. In addition to making sure your paperwork is in order, and your transactions have been documented, there tax provisions you can take to minimize your tax liability. Perhaps the foremost among them is contribute to a tax-advantaged savings plan. Contributing […]
Posts Tagged ‘tax attorney’
Taxpayers who cannot pay back their taxes due to legitimate hardship can submit an offer in compromise. With an Offer in Compromise, the IRS will look at your entire financial situation and the potential to grow your future earnings and come to a compromise on your tax bill if they feel you will not be […]
Identity theft represents a significant threat to the average American. Every day it seems we hear of stories of trustworthy institutions getting hacked, private information leaked to the public or sold to malicious agencies. The IRS takes identity theft seriously. Preventing refund fraud is a top priority for the government. The IRS is focused on […]
If the IRS decides to levy your assets or garnish your wages, it can be embarrassing to have your employer garnish your wages. When facing pressure from the IRS, the last thing you want to think about is losing your job. Fortunately, the Consumer Credit Protection Act makes it illegal to fire someone because the […]
A question that is often asked is, “If I can pay the original tax liability, can I negotiate with the IRS to forgive interest and penalties?” Like all things emanating from the government, the answer is complicated. You may have options and you should talk with your tax attorney. The earlier in the process you […]
If you have a balance with the IRS, that balance will be subject to a monthly late penalty, interest, and possible fines. As a result, if not addressed quickly, your balance with the IRS can grow to unmanageable levels very quickly. It’s critical to talk to the IRS or your tax attorney as quickly as […]
The affordable care act has done a great deal to stir passions in the public sphere, and with so much input regarding such a complex law there are bound to be questions regarding its tax provisions. Most people will need to do nothing. If you already have insurance from your employer, school, or government, and […]
The IRS has just made it easier for small organizations to apply for tax-exempt status. Earlier this July, the IRS released the new 1023-EZ form to help small charities more easily apply for tax exempt status under 501(c)(3). The new form is only three pages and substantially shorter than the much longer 1023 form that […]
It’s summer. It’s hot. The weather is great and the kids are home from school. Many parents pay for childcare or day camps during the summer while they work. If this describes your family, your costs may qualify for a federal tax credit. To qualify, your expenses must be for the care of one or […]
In order to combat confusion and to serve the tax payer, the IRS put together a Taxpayer Bill of Rights earlier this year. It’s important to know that you do have rights and your tax attorney can help you fight for them. Hopefully, by understanding your rights as a taxpayer in regards to the IRS, […]
