The Internal Revenue Service is subject to a variety of regulations and requirements when it comes to using tax liens against taxpayers in relation to tax debts. Among these are requirements related to issuing notice of a tax lien filing.
Prior to the start of the current tax filing season, the Internal Revenue Service mailed letters to 2.7 million taxpayers with IP PINs. For those unfamiliar with these IP PINs, they are six-digit numbers designed to provide enhanced security to those taxpayers who have been victimized or who are otherwise susceptible to tax-related identity theft.
Most types of income are required to be reported on one’s federal tax returns and are subject to the federal income tax. Being accused of failing to report or hiding taxable income can get a person in some very hot water with the Internal Revenue Service. Such allegations could lead to a taxpayer facing investigatory and collection actions. Also, depending on the specifics of the accusations, they could even lead to a taxpayer facing criminal charges, such as tax evasion charges. So, when accused of not reporting taxable income one earned on one’s federal taxes, a taxpayer may want to promptly contact a tax lawyer for help with addressing the situation.
Many new ways have arisen for people to make money outside of traditional employment. Among these ways are through providing services or goods through on-demand platforms. Examples of such platforms include Lyft, Uber, Airbnb and Etsy.
Deadlines are a big part of tax law here in America. The laws and rules regarding federal taxes are full of them. One of the very well-known such deadlines is the federal tax filing deadline that taxpayers are subject to.
Owing the IRS and not responding to the IRS are two completely different sets of circumstances that any taxpayer needs to understand. The Internal Revenue Service may have its problems and it may be slow to react sometimes, but it won't forget. It is in your best interests to deal with any IRS action as quickly as possible.
An offer in compromise, when accepted by the Internal Revenue Service, enables a person to fully resolve a tax debt through paying some, but not all, of the total debt amount. When applying for an offer in compromise with the IRS, among the things a person is generally required to provide along with their application are certain payments.
It is pretty widely known that good legal advice can be a very important thing to have after being assessed a tax debt by the Internal Revenue Service. A federal tax debt is a very serious thing that can have massive impacts on a person’s life if not dealt with in the right way given the particular circumstances. Skilled tax attorneys can help taxpayers with navigating these very sensitive situations.
Last week on this blog, we talked about First Time Penalty Abatement relief. As one can see in our discussion in that post, that type of Internal Revenue Service tax penalty relief is aimed towards a very particular set of circumstances. The tax penalty relief type that we will be discussing today, reasonable cause relief, can cover a wide range of different types of circumstances.
Among the things a person could face in connection to a tax problem is a tax penalty. Now, in some circumstances, a taxpayer may be able to receive relief from such penalties. There are multiple forms of tax penalty relief that the Internal Revenue Service can grant taxpayers. Each particular type has its own particular set of eligibility requirements. So, many things can impact whether a taxpayer would be able to qualify for one of these methods. Experienced tax lawyers can advise taxpayers who are facing tax penalties on whether they could be eligible for one of the IRS's tax penalty relief methods and can assist them with the process of pursuing penalty relief.