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Innocent Spouse Relief on Jointly Filed Income Tax Returns

June 10, 2013 | Tax Relief

Innocent Spouse Relief on Jointly Filed Income Tax Returns Married taxpayers often choose to file joint tax returns because of the benefits this filing status permits, especially tax credits and exemptions.  When filing a joint return, both of the taxpayers are liable for the taxes owed, as well as any interest or penalties that might be assessed. Individuals who are married and file joint returns with their spouse and later divorce can still be audited... CONTINUE READING

Form 1040X: The Amended Tax Return

June 6, 2013 | Tax Compliance

Form 1040X: The Amended Tax Return Having your tax lawyer revising your Form 1040, U.S. Individual Income Tax Return, is done if information reported on the form is incorrect and changes the tax calculation.  Filing an amended return is the correct action to take if your original return is incorrect in the amount of income, filing status, number of dependents, deductions, or credits.  Taxpayers should also file an amended return to remove deductions and... CONTINUE READING

IRS Levies

May 3, 2013 | Tax Levy

IRS Levies If you do not settle your tax debts from back taxes, the Internal Revenue Service can put a levy on your bank account. A levy is a seizure of your property to settle a tax debt.  This seizure is legal, and actually takes your property from you to satisfy the tax debt. Reasons for an IRS Levy" The IRS can commence a levy for several reasons, such as unfiled tax returns, unpaid back taxes or if you defaulted installment agreem... CONTINUE READING

IRS Tax Fraud Alerts

May 2, 2013 | Tax Fraud

IRS Tax Fraud Alerts Tax fraud is common, and not always the fault of the taxpayer.  The IRS warns taxpayers of scams and fraud that they might unknowingly become a part of.  Listed are some common tax fraud types that taxpayers should be knowledgeable about. Tax Return Preparer Abuse It is important for taxpayers to choose a tax preparer car... CONTINUE READING

Fresh Start Program Helps Taxpayers Who Owe the IRS Back Taxes

April 19, 2013 | Tax Debt

Fresh Start Program Helps Taxpayers Who Owe the IRS Back Taxes If you owe back taxes,  the Internal Revenue Service offers a Fresh Start initiative that makes it easier to pay back taxes and avoid tax liens.  This program can benefit small business taxpayers and individual taxpayers and 1) help back taxes, and 2) give some certainty to your tax problem. The Fresh Start program changes best practices in federal tax liens, installment agreements,... CONTINUE READING

Unfiled Tax Returns

April 17, 2013 | Unfiled Tax returns

    Unfiled Tax ReturnsNew York Tax Attorney offering tax help with unfiled tax returns (aka back tax returns or past due tax returns) for clients who are unable to pay the taxes owed. Let us help you put an end to your tax problems, including wage garnishments, income tax liens, and income tax levies. As an experienced tax attorney, we know how to navigate the system to get the best result for you. Once the IRS contacts you regarding your unfiled tax... CONTINUE READING

Itemizing vs. Standard Deduction

April 1, 2013 | Tax Compliance

Itemizing vs. Standard Deduction Each tax season taxpayers have to choose to between standard and itemized deductions. It is smart to compare the two methods, and pick the one that gives you the largest tax benefit. The following are some tax tips to help you choose. Know what the standard deduction is. If you choose not to itemize, you will automatically be given the standard deduction. The standard deduction amount is determined by your filing s... CONTINUE READING

The Internal Revenue Service Disallows Child Tax Credits

March 14, 2013 | Tax Compliance

The Internal Revenue Service Disallows Child Tax Credits The Internal Revenue Services is strict when it reviews child tax credits.  The tax law allows a deduction for each dependent the taxpayer is supporting.  A dependent is defined as a qualifying child or qualifying relative under Section 152 (a). Section 152 sets strict standards as to who can be claimed as a qualifying child or qualifying relative. One of the requirements to be a qualifyin... CONTINUE READING

New York State Filing Tips

March 8, 2013 | Tax Compliance

New York State Filing Tips According to the New York State Department of Taxation and Finance, taxpayers tend to make several common mistakes every year.  The following list is a way for you to double check so you can hopefully avoid simple filing errors with this tax help.   Always file.  Avoid the penalties and interest that occur when you file late.  Taxpayers who believe that they cannot file a return by the 15th... CONTINUE READING

Failure to File and Failure to Pay

March 6, 2013 | Tax Debt

Failure to File and Failure to Pay When a taxpayer does not file their returns for their personal income taxes, or if a taxpayer files for an extension but never files, the IRS does not forget about the unfiled returns.  For each year a taxpayer does not file, the IRS may issue a notice of deficiency for each year at issue.  One defense to the Failure to File Penalty in the Tax Code is reasonable cause.  To prove reasonable cause for failure to file ti... CONTINUE READING