Here are ten of the common complaints that are filed with the IRS about tax return preparers: How to File a Complaint With the IRS To file a complaint, you typically have to submit Form 14157, Complaint: Tax Return Preparer. If a tax return preparer filed a return or altered your return without your consent… Continue reading 10 Common Complaints About Tax Return Preparers
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The IRS has the authority to take your funds or property if you do not pay your taxes. This is commonly referred to as a “seizure.” Our Tax Code and the IRS’s Internal Revenue Manual provide specific rules and procedures the IRS has to follow to seize your property. Here are the four primary rules… Continue reading When the IRS Seizes Your Property…
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Working with the IRS can be difficult. If you are trying to make a payment to the IRS, you may find that you cannot even get the IRS to accept your payment. Here are the three most frequent questions clients ask us about making payments to the IRS. When Must Taxes Be Paid? Income taxes… Continue reading 3 Common Questions About Paying the IRS
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The IRS has broad collection powers that it can bring to bear to collect unpaid taxes. Even though it has these powers, it often chooses not to use them. This is especially true in cases where the collection actions would result in economic hardship for the taxpayer. What is an Economic Hardship? The term “economic… Continue reading IRS’s Collections Create an Economic Hardship
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If you are running a business and it is not withholding or remitting payroll taxes to the IRS, you should be aware of the trust fund recovery penalty. This penalty can make the business’ payroll taxes your personal tax problem. The IRS is able to assess the penalty against you individually. That means that the… Continue reading 6 Tips for the Trust Fund Recovery Penalty
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It is nice to have a retirement account with a significant balance. It is also nice to have a significant amount of equity in a home. It can be difficult to get tax relief from the IRS for unpaid taxes if you have one or more of these assets. Reasonable Collection Potential The IRS factors… Continue reading Get Rid of Unpaid Taxes Without Losing All of Your Assets
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Do you have a hobby that makes money, but costs more than it makes? If so, here is what you need to know before deducting the expenses on your tax return. Business expenses are generally required to be reported on Schedule C, Profit or Loss from Business. A net loss from Schedule C is carried… Continue reading Deducting Expenses for Your Hobby
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The IRS imposes penalties for a number of different types of conduct. Many of these penalties can be abated or removed based on reasonable cause. Reasonable cause refers to there being extenuating circumstances. The estimated tax penalty is different, as extenuating circumstances are largely irrelevant. This makes it even more important to pay estimated taxes… Continue reading How to Avoid the Estimated Tax Penalty
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If you have ever been through an IRS audit, you know that the IRS likes to review records. The IRS expects you to have these records. It also expects you to produce the records timely and without question. But you have the right to request records from the IRS too. The Freedom of Information Act… Continue reading How to Get Information from the IRS
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