Blog
What Changes With the New Taxpayer First Act?
The Taxpayer First Act of 2019 is redesigning how the IRS works with taxpayers, even though it may take a while for many of the provisions to take effect. Some experts have highlighted the following aspects of the bill as especially important: An independent appeals...
read moreTax Court Denies Equitable Relief to Joint Filer
As far as federal income taxes go, it’s usually “until death do us part” for joint filers, but a recent Tax Court case ruled otherwise. There are times when the tax law provides a way out for one spouse or the other, as in Brooks, TC Memo 2019-5, 3/18/19, where a...
read moreIf You Plan to Travel Outside The US You May Need to Resolve Your Tax Problem Before Doing So
The Internal Revenue Service today reiterated its warning that taxpayers may not be able to renew a current passport or obtain a new passport if they owe federal taxes. To avoid delays in travel plans, taxpayers need to take prompt action to resolve their tax issues....
read moreIRS Waives penalty for many whose tax withholding and estimated tax payments fell short in 2018
WASHINGTON — The Internal Revenue Service announced today that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year. The IRS is generally...
read moreThe IRS is Using Private Debt Collectors for Delinquent Taxes
The IRS has used private debt collectors in the past and the programs have failed miserably. Its most recent attempt is not faring much better and the system is wrought with the possibilities of abuse. At least IRS efforts to use private debt collectors, aren’t losing...
read moreTax Reform: You Need to Double Check Payroll Withholding
With new tax laws effective for 2018 you should review your income tax withholding and, when appropriate, make adjustments. Notably, the new Tax Cuts and Jobs Act (TCJA) lowers tax rates for individuals, effective for 2018 through 2025, so you may presume you are over...
read moreBig Changes calculating amount exempted from Wage Garnishment/Levy
The exemption from levy is tied to the personal exemption. The personal exemption went up last year and the IRS has published guidance on how that change impacts the amount of the exemption from levy in a wage levy situation. This creates a windfall for individuals...
read moreHow do i get back on track with the IRS?
The best time to resolve your tax debt is the week before you win the lottery, when you have no assets and your income barely meets your necessary living expenses. If you have no assets, no money in the bank and you are living paycheck to paycheck … that’s the time to...
read moreLast month, the IRS began implementation of new procedures.
The Internal Revenue Service last month strongly encouraged taxpayers who are seriously behind on their taxes to pay what they owe or enter into a payment agreement with the IRS to avoid putting their passports in jeopardy. Last month, the IRS began implementation of...
read moreWhy file your unfiled returns now… even if you don’t have the money to pay
The IRS understands that there may be legitimate reasons why may don’t have the money to pay your taxes, but there are very few legitimate reasons for not filing your return when due, and not having the money to pay is not one of them. Late filed returns incur a...
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