Understanding Innocent Spouse Relief

Married couples get to enjoy a lot of key benefits when they file their tax return jointly, and it can even be a contributing factor as to why people decide to make their union legal in the first place. However, when one spouse decides to keep financial information from the other and misrepresents their situation when filing their taxes, needless to say, it creates a lot of problems. If you suddenly find yourself Read More

Piercing the Corporate Veil: When the IRS Can Seize Personal Assets to Cover Business Tax Liabilities

Small business owners often put their blood, sweat, and tears into making sure their company remains operational and successful. Sometimes it isn’t enough, and the company has to close. When this happens, owners might be under the impression that they aren’t responsible for their unpaid business debts, but that’s not always true. Having a business isn’t a free pass to acquire debt and then not pay it off or Read More

Understanding Spousal Tax Liability

When married couples file taxes, there are a few assumptions that are naturally made by both parties. You assume that the information on your paperwork is accurate for both of you, and that all of your income during the year is represented on your return. It’s also a given that, as a couple filing jointly, both of you will be responsible for paying any tax due. But what if your spouse does something without your Read More

An Introduction to the IRS’ “Currently-Not-Collectible” Tax Program

Tax time is certainly looked at as one of people’s least favorite times of the year. While it’s a headache for some, it can be truly stressful and upsetting for others. Imagine living paycheck to paycheck, barely able to make ends meet, and then finding out you owe the IRS thousands of dollars. A situation like this might seem hopeless, but there is a light at the end of the tunnel. The IRS has created a program for Read More

The IRS Isn’t Perfect: 5 Ways the IRS Can Incorrectly Determine Tax Liability

We often think of the IRS as an ominous entity who is out to take as much of our money as they can. However, despite our frustration with this important government entity, we still tend to take their statements and determinations at face value without question, when in reality the IRS is run by people just like you and me who are very capable of human error. The IRS can most certainly make mistakes, and although it Read More

How Can I File My Back Tax Returns? I Have No Records.

Our Firm often encounters individuals and businesses who have not filed income tax returns for many years.  Oftentimes, someone went through a traumatic event, such as the death of a spouse, and did not file a tax return for that year.  Or business owners may have had a dispute, and one owner may have taken all of the records, making it difficult for the other owner to file a tax return. However, the consequences Read More

Remove a Tax Lien from Your Credit Report

An IRS tax lien does not need to ruin your credit score forever.  It is possible to have it removed so that you can qualify for a business loan or to allow you to qualify for financing for that new house you have been wanting to purchase. If a tax liability is not paid, the IRS will send a notice of the amount due and a demand that it be paid.  If it is not paid, a tax lien is automatically created by law.  To Read More

IRS Tax Relief Strategies: The Advantages & Disadvantages of IRS Installment Agreements

Most taxpayers do not realize that the IRS is surprisingly willing to work with them in order to help them find ways to satisfy their tax debts without placing an unreasonable financial burden on them and their loved ones. As we’ve discussed in a previous blog, one common relief strategy taxpayers can take advantage of when they are struggling to fulfill their tax liability is the “offer-in-compromise.” Another great Read More

A Brief Q&A on IRS Levies and Wage Garnishments

When it comes to upholding and executing the US Tax Code, the Internal Revenue Service (IRS) has extremely broad powers. When you owe taxes, and you ignore or refuse to work with the IRS to satisfy your debts, they have the authority to employ some extreme measures in order to collect from you what is owed, including any interest and penalties that have accrued as a result of your unpaid tax debts. Some of the Read More

The Freedom to Request Information

Among the several rights granted to United States citizens, the Freedom of Information Act (FOIA) is one that most people overlook. It is a significant privilege. In 1966, Congress enacted FOIA to provide individuals with access to “identifiable records.” Records could be obtained without the requirement to demonstrate a need or reason for the records. This means that the government had to show a reason for Read More