Posts tagged Taxpayers.

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, the taxpayer can apply for a payment plan with the IRS to pay these taxes, and usually on a monthly basis.    However, depending on the amount of taxes owed, the IRS may require the taxpayer to submit detailed financial information in order for the IRS to evaluate a suitable monthly payment.    For this purpose, the IRS requires a taxpayer to prepare and submit a Collection Information Statement (CIS), typically through a Form 433, and with supporting financial ...

While the Coronavirus has delayed tax season by a few months, Congress’s response may have created the first ever refund season in the recently passed and much discussed relief package known as the Coronavirus Aid, Relief, and Economic Security Act, or “CARES Act” for short.  While the Act employs various relief techniques, Congress’s most effective and tried-and-true relief method – amending the Internal Revenue Code (the “Code”) – may ultimately play the most significant role.

On that note, the CARES Act amends many tax-related provisions, including ...

Taxpayers who disagree with a proposed tax assessment issued by the South Carolina Department of Revenue (SCDOR or DOR) may or may not be able reach an agreement at the administrative level. When taxpayers and SCDOR cannot resolve a proposed tax assessment at the administrative level, DOR will issue a Department Determination. A taxpayer can then seek judicial review of the Department Determination by filing a request for a contested case hearing with the South Carolina Administrative Law Court (ALC) within 30 days of the issuance of the Department Determination. This is the only ...

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