Financial Information From Taxpayers No Longer Required For Certain IRS Tax Payment Plans
By Jennifer L. Rath, Enrolled Agent If a taxpayer owes federal taxes, but does not have the financial ability to pay these taxes in full,…
Tax Collection/Bankruptcy
Are You a Victim of Identity Theft? Here’s What To Do
As extension season awaits us in less than three months, there are many taxpayers who will discover that they have fallen victim to identity theft.…
IRS Clarifies Authority for Acceptance of Offers in Compromise from Clients of Professional Employer Organizations and Reporting Agents
Generally, an employer is required to deduct and withhold Federal Insurance Contribution Act taxes ("FICA"), Federal Unemployment Tax Act taxes ("FUTA"), and income tax withholding…
IRS Extends Streamlined Payment Plan Pilot Program Through September
The IRS recently announced that it will be extending the streamlined payment plan pilot program through September 30, 2018. The plan allows taxpayers with federal…
Time to Challenge Wrongful IRS Levy Extended Under New Law
The IRS has the power to seize or “levy” assets, banks accounts, wages and other assets and income of an individual or business to satisfy…
IRS To Turn Over Tax Collection Accounts to Private Collection Agencies – Watch Out for Scammers, Though!
The IRS recently announced that, beginning this month, the tax agency will be assigning certain unpaid tax accounts to private collection agencies. The IRS will…
Understanding Back-Up Tax Withholding
The IRS requires businesses to obtain a Form W-4 from each employee, and also a Form W-9 from contractors and others who may receive payments…
The IRS Tax Levy on Social Security Benefits: Does it Last Forever?
An IRS tax levy is a seizure of a person’s property or rights to property. The IRS then uses the seized property to pay taxes…
You or Your Business Gets an IRS Audit Notice: What Do You Do? Defending an IRS Audit (Part 10)
The United States has a voluntary tax reporting system. Once a tax return is filed, however, the IRS will seek to verify that filed tax…
The IRS is Garnishing My Wages or Taking My Bank Account: What Do I Do? Collection Due Process Relief (Part 9)
If an individual or business owes but has not paid federal taxes, the IRS will make efforts to collect these taxes. The IRS will first…