Trust Fund Recovery Penalty
What is the “trust fund recovery penalty?” It’s not a true penalty but only a substitute for part of the payroll taxes that an employer...
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Robert Nath
- Jan 27, 2022
- 2 min
Statute of Limitations
What is the “statute of limitations” on collecting taxes? Normally, it’s ten years from date of assessment. “Assessment” generally means...
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Robert Nath
- Jan 27, 2022
- 1 min
Non-Filing of Tax Returns
What are the penalties for not filing a federal income tax return? The criminal penalty is a misdemeanor punishable by a maximum of one...
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Robert Nath
- Jan 27, 2022
- 2 min
Audits and Appeals
How does the audit and appeal system work? It starts (generally) with the tax return you filed. If the IRS selects that return for...
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Robert Nath
- Jan 27, 2022
- 2 min
IRS Penalties
How does the IRS figure penalties? The most common IRS penalties are: Late filing of a tax return Late payment of a tax Failure to make...
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Robert Nath
- Jan 27, 2022
- 2 min
Taxes and Bankruptcy
Are taxes dischargeable in bankruptcy? Potentially, yes. The starting rule is that the tax has to be one measured by “income or gross...
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Robert Nath
- Jan 27, 2022
- 2 min
FEDERAL TAX LIEN
What is a federal tax lien? A federal tax “lien” is simply a legal charge on your property, to secure the payment of a tax debt. It’s...
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Robert Nath
- Jan 27, 2022
- 3 min
IRS Levies
What is an IRS “levy?” An IRS levy is a piece of paper the IRS sends to your bank, broker, employer, etc. That piece of paper legally...
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Robert Nath
- Jan 27, 2022
- 3 min
INNOCENT SPOUSE RELIEF AND DIVORCE
What relief is available under the innocent spouse revisions? The 1998 revisions to this law provided for three types of relief: (1)...
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Robert Nath
- Jan 27, 2022
- 2 min
Installment Agreements
What is an installment agreement? An installment agreement is a contract between you and the IRS to pay your back taxes in installments. ...
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Robert Nath
- Jan 27, 2022
- 5 min
Offers In Compromise
What is an “offer in compromise?” An offer in compromise (shorthand – “offer”) is an offer you make to the IRS to settle a tax debt for...
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Robert Nath
- Jan 20, 2022
- 1 min
What's Hot
The IRS is now adding…wait for it…bar codes to their collection notices! The agency will place these scannable codes only on two...
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Robert Nath
- Jan 18, 2022
- 11 min
Real World IRS Issues
1 - Sell your home even though a tax lien is on file Here are the real world scenarios. Each assumes the first and additional mortgages...
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