I Cannot Pay the Tax Reported on my Tax Return. Should I file?
In short, the answer is YES! In order to understand why you must file, it is important to grasp the penalties associated with failing to timely file. IRS Failure to File Tax Return Penalty The IRS’s...
View ArticleIRS Installment Agreements are Palatable in the Current Economic Climate
The Internal Revenue Service announced that interest rates for the calendar quarter beginning January 1, 2012 will be the following: 3 percent for overpayments [2 percent in the case of a corporation];...
View ArticleWhen to Submit a Reasonable Cause Request for the Failure to File Tax Penalty
If a taxpayer does not file by the due date, then they are subject to the failure to file penalty unless they can show that any delay was due to reasonable cause and not willful neglect. Accordingly,...
View ArticleCan the IRS Levy Against my Property Without Notification if I Owe Back Taxes?
The Tax Code, Section 6330(a), requires that written notice be given to a person upon whose property the IRS intends to levy to collect unpaid taxes. The notice must advise the taxpayer of the amount...
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Failure to File Tax Returns and Pay Taxes does not preclude IRS Bonuses
The Treasury Inspector General for Tax Administration (TIGTA), Reference Number 2014-10-007, discovered that tax compliance is irrelevant when the government issues performance based awards to IRS...
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