Tag: IRS Collections

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……

The Federal Trade Commission (FTC) is the nation’s consumer protection agency. It works to prevent fraudulent, deceptive and unfair business practices in the marketplace. It weighed in on the tax relief companies in an article posted on its website. Taxpayers should consider the FTC’s warnings before hiring a tax relief company. Unethical Tax Relief Practices……

A friend of mine had a new house built a few years ago. We always seem to be in the midst of some kind of remodeling project, so I had asked him about his selection of appliances, cabinets, carpet, fixtures and windows. I was a bit surprised by his response.  He said he was not……

1. Penalties continue to accrue Unpaid tax debts are subject to late payment penalties. The penalty is typically half of one percent of the amount of the unpaid tax. This may not sound significant given the low rate, but it adds up. The penalty is computed each month or part of a month after the……