Quite often I get asked to seek penalty abatement relief for an IRS delinquency or set of delinquencies as part of helping taxpayers chart a path towards compliance. Today while perusing the IRS web site I stumbled across some text worth sharing that sheds some...
The IRS as many of you are painfully aware is often looked upon as accusing first without due process requiring the tax payer to shoulder the burden of proof in regards to his or her innocence relevant to the Internal Revenue Code. In other words...
The Internal Revenue Service launched a new program that will enable many employers to voluntarily reclassifying their workers in an effort to resolve past worker classification issues. It is called the Voluntary Classification Settlement Program (VCSP). This new program will allow employers the opportunity to make a minimal...
Basically the simple answer is file your tax forms with both the US Federal government and applicable state governments. Start by filing the previous 3 years of income tax returns ASAP. It is possible the IRS may have already filed returns for you. Under Section 6020(b)...
Collection of federal taxes starts with an assessment of tax due. The assessment serves two functions. It is the government’s mechanism for keeping records and recording a liability. The assessment, authorizing the government to collect, is equivalent to the final judgment that a general creditor must...
Call 800-913-9358 to reach the Centralized Insolvency Operation. Hours are 7 a.m. to 10 p.m. eastern time. If the IRS is a creditor in a bankruptcy case, and you determine that IRS was not originally listed as a creditor, notification of the filing should be sent...
I am opposed to all tax strategy patents. They are bad public policy and harmful to taxpayers and their advisers. No one should have a monopoly on part of the tax code and no taxpayer should be subject to paying royalties or lawsuits for using...
An abusive tax shelter generally offers inflated tax savings which are disproportionately greater than your actual investment placed at risk. Usually you invest money to generate income or capital appreciation but an abusive tax shelter generates little or no income or capital appreciation, and/or the...
The purpose of the Offshore Voluntary Disclosure Initiative (OVDI) as I understand it today is to provide reasonable assurance to a taxpayer who comes forward, before an investigation is started, that if they truthfully disclose all facts and circumstances about their unreported offshore account and...
IF you find yourself 'running out of time' on the 90 day period, filing a tax court petition and paying court fees and representing yourself pro-se or hiring a tax court lawyer are last choice decisions. They are costly and tax court I hate to...