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    Category: Tax Debt

    Can You Go to Jail for Not Paying Taxes?

    4 May, 2022 | Tax Compliance Tax Debt Tax Fraud Tax Penalties

    The short answer to the question of whether you can go to jail for not paying taxes is “yes.” Whether a person would actually go to jail for not paying their taxes depends upon all the details of their individual tax circumstances. Sometimes people make errors on their tax returns or are negligent in filing, but they are not intentionally trying to avoid paying taxes. It is a long-standing policy of the Internal Revenue Service (IRS) not to pursue prosecution of individuals who fai... CONTINUE READING

    Four Different Ways to Settle the IRS Tax Debts

    9 February, 2022 | Tax Debt

    Tax Debt SettlementNo taxpayer wants to get into the IRS tax debt and need a tax debt settlement. Still, every year thousands of taxpayers get into it due to different reasons. And once they get into it, their tax debts keep increasing day-by-day with the addition of penalties and interests. At some point, if the IRS tax debts are not paid, they get double and become an unwanted burden for the taxpayers. They have to pay this at any cost.... CONTINUE READING

    IRS Tax Debt- Collection Agency referral

    2 December, 2018 | Tax Debt

    IRS Tax Debt- Collection Agency referral One of the most frustrating situations in life is dealing with debt collections agencies. This is compounded if they were referred a tax debt. If you are wondering how to deal with collectors, read on for some valuable information about how to deal with collections agencies. About a Collection AgencyCollections agencies are businesses with one purpose; collecting outstanding debts. These busin... CONTINUE READING

    IRS Passport Revocation

    28 January, 2018 | Tax Debt

    IRS Passport Revocation   In December 2017, the IRS started to formally start the process of certifying to the US Department of State which taxpayers owed more than $50,000 (which will be adjusted for inflation) to the IRS, by collecting that information from their computer systems and verifying it, and if this pertains to you, you may be asking if there is a IRS Tax Lawyer Near Me? Fair Question. Per the IRS website, as of January 9, 2018 th... CONTINUE READING

    Two uses of the IRS form 433-A, 433-B or 433-F

    2 June, 2016 | Tax Debt

    Two uses of the IRS form 433-A, 433-B or 433-F While involved with an IRS collection case, for matters over $50,000 the IRS will ask for a 433-F form to be completed, which is a financial disclosure of your assets and income, or a form 433-A/B form (a variety of the 433-F form) if an IRS Revenue Officer is assigned to your case. From the clients perspective they... CONTINUE READING

    IRS Debt Relief Program

    6 December, 2013 | Tax Debt

    IRS Debt Relief Program The ability to qualify for a IRS debt relief program is contingent upon meeting certain criteria set by the tax law and IRS administrative tax rules. The two types of IRS debt relief programs are a 1) part pay installment agreement, and the second is an Offer in Compromise. Both of these programs require that all unfiled tax returns have been filed, and that you are current with the current period tax liabilities. The first... CONTINUE READING

    Can you file Bankruptcy on IRS Debt?

    17 November, 2013 | Tax Debt

    Can you file Bankruptcy on IRS Debt? Under the tax law, filing for bankruptcy is one way to reduce or even eliminate your tax liabilities, but often it is not the best solution for our clients. In response to the question can you file bankruptcy on IRS debt? In general, there are two different types of bankruptcy, liquidation or “straight bankruptcy” (Chapter 7) and reorganization (Chapter 11 or Chapter 13). Liquidation or straight bankruptcy will res... CONTINUE READING

    Defaulting on a IRS or NYS Tax Installment Agreement

    30 September, 2013 | Tax Debt

    Defaulting on a IRS or NYS Tax Installment Agreement Many of our clients that owe the IRS or NYS for unpaid back taxes had us create tax installment agreements which are paid monthly to satisfy the tax debt. The terms of the installment agreement require that the taxpayer stay in compliance by paying all taxes owed on time, and filing all tax returns on time, and not incurring a new unpaid tax liability. As sometimes happens in tough economic time... CONTINUE READING

    Fresh Start Program Helps Taxpayers Who Owe the IRS Back Taxes

    19 April, 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

    Failure to File and Failure to Pay

    6 March, 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

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    What Does IRS Notice CP501 Mean & What to Do?

    CP501 is one of the first notices that you will receive if you owe taxes to the IRS. Usually, the agency sends out CP501 notices to taxpayers whose accounts are in the automated collection system (ACS)....