IRAs and Tax Debt

Lately, the IRS has shown an increased willingness to seize IRAs and retirement accounts to pay delinquent tax debts. These deplorable levies are genuinely frightening to a retiree who cannot survive on Social Security alone. IRS management moves slowly in it’s approval of such levies. If you ...
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Unfiled Returns & Wage Levies

In order for the IRS to levy, it must have assessments. To generate assessments for a non-filer, the IRS will do substistute for returns (SFRs). The IRS will often use the SFR assessments to issue wage and bank levies. If the levies are a hardship, does the Taxpayer have to file his or her tax [...]...
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Late Filed Returns and Bankruptcy

Historically, a taxpayer could late file tax returns and, after a two-year window, discharge the taxes in a Chapter Seven bankruptcy. Even if the IRS had done Substitute for Returns (SFR), the taxpayer could discharge the taxes if he or she met the two-year rule. In 1999, a court case, Hindenlang,&n...
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HELP: Offer in Compromise

  For many people, the stress of taxes end with the end of tax season, but when you have back taxes you can be just beginning a path towards a scary and big problem.  The main cause of this difficulty is that the interest and penalties continuously building up. New Hope But, there is still...
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How to Avoid a Tax Levy

The IRS can be intimidating for a number of very good reasons, one of which is their ability to slap you with a tax levy.  While many people assume that the IRS can’t truly begin to threaten you until after various warnings and legal proceedings, a tax levy basically means that they can t...
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