After a prolonged hiatus spanning more than two years due to the Covid-19 pandemic, the Internal Revenue Service (IRS) has begun issuing automated collection notices to taxpayers once again. This signals a potential wave of impending notices for overdue tax debts and demands...
IRS Help
What Does an IRS Revenue Officer or State Tax Compliance Officer Do?
A lot of people wonder about the role of an IRS Revenue Officer or a State Tax Compliance Officer. Revenue Officers are the ones tasked with collecting overdue taxes, investigating tax non-compliance, negotiating with taxpayers, and taking enforcement actions. Whether it's at...
What is the IRS Billing and Collection Process?
What is the IRS billing and collection process? Navigating the IRS billing and collection process can be an intimidating experience, often perceived as a daunting bureaucratic maze. However, understanding the intricacies of this process can empower you to make informed...
What Do I Do When I Owe Taxes?
When you owe taxes, it's crucial to take proactive and responsible steps to address the situation. Ignoring it can lead to penalties and interest piling up over time. Start by thoroughly reviewing your tax return for accuracy and ensure you've claimed all applicable deductions...
What are the New Mandatory Ownership Reporting Requirements?
Under the Corporate Transparency Act, businesses are mandated to disclose detailed information about their beneficial ownership. The term "beneficial ownership" refers to the individuals who ultimately benefit from or control a legal entity, shedding light on previously...
What Happens if You Marry Someone Who Owes Back Taxes?
If you are married or marry someone who owes back taxes, you are not liable for the debt. The IRS provides relief options for those who file jointly and individually. If your spouse owes back taxes, filing Form 8379 allows you to keep your refund. A tax professional will be...
How To Grieve Taxes
Researching your property’s fair market value is the first step towards determining how to grieve taxes. From there you will need to file a petition with the municipality, write a letter of support and provide supporting documentation. A tax grievance takes place when a...
Why Do I Owe State Taxes but Not Federal?
As most tax filers know, the annual tax season is a time of surprises. On rare occasions, the surprises are pleasant, and we owe less than we thought or will be getting a larger refund than we expected. However, most of the surprises we get during tax season are of the bad...
How Far Back Can the IRS Go for Unfiled Taxes?
Very few people look forward to filing their income tax returns, but putting off this dreaded chore can lead to severe consequences that range from losing a refund to spending time behind bars. This article will cover what could happen if you don’t submit a tax return, explain...
How Do I Get an Extension on Filing My Taxes?
Individuals usually have to file their federal income tax returns by April 15, but that date was moved forward to May 17 in 2021 to give Americans more time to prepare their financial information while coping with restrictions imposed to curb the pandemic. Although this would...