Every American who files and pays federal taxes rarely thinks about taxes this time of year. They are typically enjoying the pleasures of summer. However, there are those who have failed to file. If you are among that group, you know that you never have a moment’s rest. The thought is always gnawing away in the back of your mind. Read More
June is typically the most popular month for weddings. Did you ever wonder if there is a divorce season?
I did. And I found out that just like there is a season for getting hitched there’s one for getting unhitched too.
It looks as if taxpayers have to be wary and skeptical even when they send their personal information to the IRS. This government agency is supposed to be trusted with our personal information. Especially at a time when criminals are posing as IRS agents over the telephone, through email, through our employers human resources departments and through schools you would think the IRS itself would be safe. But no!
Are you the target of an audit for allegedly under-reporting income to the IRS?
Professional help by an experienced, Enrolled Agent tax attorney is a must in this type of situation. A little bit of understanding may also come in handy before you get sucked into the unraveling of your tax returns.
If you’ve never been audited, you may not know that when the IRS audits you, it could take up to a year or more to complete the audit.
If you have been audited you know that audits are time consuming and fraught with endless worries.
If you’re squeamish about filing your taxes because you owe back taxes and aren’t in a position to pay in full, you might be able to qualify for an Offer-in-Compromise (OIC). Depending on how much you owe, you could potentially save thousands of dollars in taxes, penalties, and interest by qualifying for an IRS offer-in-compromise settlement.
If you haven’t filed your 2013 taxes you could have a refund among the more than $1 billion that the IRS has stated is unclaimed.
That’s right. Just recently the IRS stated that it has more than $1 billion worth of unclaimed tax refunds for people who have not filed their 2013 taxes. They indicate that there are roughly 1 million people who have not filed and have not claimed their refunds.
Have you suddenly become the unhappy target of an audit for allegedly under-reporting income to the IRS? Maybe you did under-report. Maybe you didn’t. Whether you did or not, your tax returns have waved some red flags at the IRS and you are now in their line of sight.
It’s true that this tax season some taxpayers have been unaware of a new rule that requires the IRS to hold tax refunds for taxpayers who claim the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit. As a result, the IRS has acknowledged that there are now a number of “misunderstandings and speculation about refunds.”
So, you lived through 2016 even though you find yourself in the unenviable position of either not having filed your taxes for several years or owing the IRS back taxes that you just don’t know how to pay, and the fees and penalties keep accruing. This article is for you.
It’s a brand new year and you’ve decided to take a deep breath and finally address your unfiled and unpaid taxes.
Yes, it’s scary, but you know it’s not getting any better and your tax bill is getting bigger every day you ignore it.
As we get closer to tax season, there’s a benefit that many taxpayers consistently miss out on.
I like to help my clients get every benefit from the government they can. That’s why I’m taking time to help you familiarize yourself with the tax advantages of the Saver’s Credit.
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