irs: YOU CAN REDUCE OR ELIMINATE TAX PENALTIES
- 11/08/21 11:02 AM
One of the reasons people give for not addressing their tax problems is the feeling they cannot pay the penalties so there is no point in addressing the problem. This mistaken belief is a double tragedy: not only does it prolong the taxpayers’ suffering, but with appropriate expert help you can reduce or eliminate tax penalties. Some of these techniques may be used every few years so that the sooner the taxpayer seeks relief, the more relief they will be able to get. Taxpayers can reduce or eliminate tax penalties for most tax issues including failure to file, late payment, … (0 comments)
irs: INNOCENT SPOUSE DOCTRINE CAN PROVIDE YOU RELIEF
- 11/02/21 10:12 AM
The breakdown of a marriage can be one of the most difficult times in a person’s life. Sadly, this event is often compounded by unexpected income tax bills and collections. Fortunately, the Innocent Spouse doctrine can provide you relief. The Innocent Spouse doctrine states, in a nutshell, that a spouse, innocent of their [former] spouse’s bad behavior should not share liability for that bad behavior. Married persons are jointly liable for their tax bills and divorce often leaves a person with half the bill for the penalties on their former spouse’s unpaid taxes. This is where a the Innocent Spouse … (1 comments)
irs: IRS STEPS UP ENFORCEMENT – WHAT NOW?
- 06/23/21 10:51 AM
The IRS’ COVID lull in enforcement formally ended June 15th with the issuance of 5 million Notices of Intent to Collect. Nearly 1 in 6 American taxpayers has past due income taxes, so it is likely that someone you know will be tagged by the IRS' stepped up enforcement. The IRS spent the past eighteen months preparing for this new spate of enforcement by onboarding AI technology to supplement the information garnered from recent ‘John Doe’ subpoenas sent to Coinbase, Kraken and other cryptocurrency brokers and the trove of data willingly supplied by taxpayers seeking PPP, unemployment and EIDL COVID support. … (0 comments)
irs: HAVE NOT FILED TAX RETURNS, PART II
- 03/15/21 10:55 AM
This is part 2 of my series of blog articles on what to do if you have not filed tax returns for several [or many] years. You can read the first article in this series here. The first thing you need to do is consult with an attorney. There are several steps involved in ‘coming correct’ after having not filed tax returns, and many factors to consider for each step. Because a non-filer is out of compliance with the law, among the most important considerations will be making sure the case is not inadvertently turned into a criminal case. This is … (0 comments)
irs: WHAT TO DO WHEN YOU RECEIVE AN IRS COLLECTION LETTER – PART 1
- 03/01/21 02:19 PM
IRS collection letters arrive in envelopes conspicuously labeled with the IRS logo, as though to inform your mail carrier and neighbors that you have received an IRS collection letter. Some of these letters contain ominous pronouncements such as: “NOTICE OF INTENT TO LEVY”. Pre-COVID, approximately 1 in 6 American taxpayers owed money to the U. S. Treasury. This number is sure to grow as Americans file their first post-COVID tax returns and discover just how much of the assistance they received from the Federal Government they are required to return to the Federal Government in the form of income taxes on … (6 comments)
One of the reasons people give for not addressing their tax problems is the feeling they cannot pay the penalties so there is no point in addressing the problem. This mistaken belief is a double tragedy: not only does it prolong the taxpayers’ suffering, but with appropriate expert help you can reduce or eliminate tax penalties. Some of these techniques may be used every few years so that the sooner the taxpayer seeks relief, the more relief they will be able to get. 
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