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Robert Nath
Jan 27, 20222 min read
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, 20222 min read
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, 20221 min read
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, 20222 min read
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, 20222 min read
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, 20222 min read
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, 20222 min read
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, 20223 min read
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, 20223 min read
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, 20222 min read
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, 20225 min read
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, 20221 min read
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, 202211 min read
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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