Tax Help

What is An IRS Trust Fund Recovery Penalty


Many small business owners may get behind on employment taxes or payroll taxes and think they will be able to cover whatever their balance is in the coming quarter, or by the end of the year. However, before that time comes they get a letter saying that not only is there an additional $10,000.00...

What Are the IRS Statutes of Limitations On Collections


IRS collection statute expiration dates One of the most common questions that clients ask is “Isn’t there some kind of collections statute? I owed this balance way back in 1995, how can the IRS still be trying to collect it from me?”. I have heard many clients and potential clients say they know with certainty...

What To Do With Seriously Delinquent Tax Debt


The IRS has started to employ a new and creative method to force taxpayers to the table. More and more we are seeing the IRS referring cases to the state department and ultimately going after taxpayers’ passports. The State Department generally will not issue a passport to you after receiving certification from the IRS....

Tax Debt Resolution Options


Let’s briefly discuss resolution options when you find yourself with IRS tax debt.  If you have IRS Tax Debt you have a number of resolution options including: Tax Debt Resolution Options:  Installment Agreements; Penalty Abatement; OIC: Offer in Compromise; and CNC: Currently Not Collectible Status Which tax debt resolution is the most appropriate for you depends upon...

What Is The Difference Between Tax Levies and Tax Liens


If you don't pay or settle your federal or state tax debt, the IRS and state taxing authorities can levy, seize and sell any type of real or personal property that you own or have an interest in. Taxpayers often interchangeably refer to levies as liens or vice versa not realizing these are two totally different terms. Tax Liens...