21 November, 2020 | Tax Issues
Know Your Fundamental Rights As the IRS Taxpayers Obligations are obvious for the IRS taxpayers but at the same, every taxpayer has a set of fundamental rights they must be aware of. A very few taxpayers in the United States know all of their fundamental rights for dealing with tax returns and tax audits with the IRS. While th... CONTINUE READING
14 August, 2020 | Tax Issues
All You Need to Know About Economic Impact Payment The ongoing outbreak of COVID 19 has badly affected each and every person all over the world. Despite the passing of dark days of five months, it has continued to do damages. As of now, the world has nothing to prevent and eliminate it. That means there is uncertainty about how long it will last. The individuals have been struggling for jobs, businesses and organizations are in a huge loss, and government bo... CONTINUE READING
3 July, 2020 | Tax Issues
The Effect of COVID 19 on IRS Tax-Related Operations COVID 19 has badly affected the whole world. It posed the danger for both the health and economic factors of all countries. As of current status, the United States of America is the biggest victim of Coronavirus. This pandemic affected the daily legal operations of the United States. The Internal Revenue Service’s operations are also affected due to the threat of the spread of COVID 19. If you are a t... CONTINUE READING
26 December, 2019 | Tax Issues
The IRS OIC Program When you read advertisements, such as "Settle your Bank Taxes for pennies, Free Tax Evaluation Now!", you need to pause and consider whether the services will be helpful to you, or will they just cost you money with no relief to the bank taxes you owe. While it's true the IRS has a program that allows taxpayers to settle their tax debts for less than the to... CONTINUE READING
29 March, 2018 | Tax Issues
Tax Lawyer - Albany NY and NYC - Back Taxes Help There are many reasons why people fail to file their income tax returns and need back taxed help in the Albany Capital region to NYC area. In some instances, the taxpayer just forgets to file, is too busy, can’t afford the resultant tax bill, or some even thought they did not owe anything, so there was no reason to file the return. Form the viewpoint of the IRS, and typical state tax authorities, the reas... CONTINUE READING
10 December, 2017 | Tax Issues
Is using Tax Preparation Software a good idea? The ability to prepare and file your own income tax return can be a very convenient experience. There are many tax software programs available, and most do a good job of helping you prepare and file the income tax returns for a small fee. For the average taxpayer, these programs cover the main issues, and produce an accurate tax return after a few hours of data entry. Most taxpayers take paying their taxes... CONTINUE READING
10 July, 2016 | Tax Issues
How Can the IRS Taxpayer Advocate Help! A recent client came to me with a unique problem. He and his wife owed the IRS about $80,000. He was a NYS Judge and if the IRS filed a notice of federal tax lien (NFTL), it would be very embarrassing to him and since he handles business law cases, the Chief Judge may ask him to resign since the tax liens would effect his credibility in the court system. The IRS wanted to file the NFTL to protect its interes... CONTINUE READING
15 February, 2014 | Tax Issues
IRS First-Time Abatement The IRS First-Time Abatement Policy can be a very useful tool to lower an outstanding tax bill. It is most helpful when someone made a one-time mistake (late filing of return, late payment of tax, etc.) and the IRS penalized the taxpayer for this lateness. If you have filed all of your tax returns, and have made arrangements (such as an installment agreement) to pay whatever tax is owed, you can ask the IRS to abate the pe... CONTINUE READING
11 January, 2014 | Tax Issues
Amending Same Sex Couple's Tax Returns In 2011 we represented a client who had unfiled tax returns, and we created for him a tax payment plan. The client was a spouse in a same sex marriage. We prepared and filed the income federal income tax returns as single for the Internal Revenue Service,... CONTINUE READING
Summary The IRS has 10 years to collect unpaid taxes, which is called the Collection Statute Expiration Date (CSED). The CSED is triggered when the IRS assesses taxes or a tax return is filed. Certain events, like filing for bankruptcy or applying for an Offer in Compromise (OIC), can t...
