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Tax Returns Tax Penalties Tax Debt

Foodman CPAs & Advisors

Ofrecimiento De Transacción: Oportunidad Para Resolver La Deuda Tributaria

El IRS emitió el Consejo Fiscal 2024-37, el 24 de abril de 2024, para informar a los contribuyentes que no pueden pagar su deuda tributaria completa o si pagar les causaría dificultades financieras, que deberían considerar...more

Foodman CPAs & Advisors

Offer In Compromise: Opportunity To Solve Tax Debt

IRS issued Tax Tip 2024-37, April 24, 2024, to inform taxpayers that can’t pay their full tax debt or if paying would cause financial hardship, that they should consider applying for an offer in compromise which is a program...more

Fox Rothschild LLP

IRS to Focus on High-Income Earners Who Have Not Filed Tax Returns Since 2017

Fox Rothschild LLP on

The IRS expects to send out over 125,000 collection letters to high-income taxpayers who did not file one or more federal income tax returns between 2017 and 2021. As part of the new collection initiative, approximately...more

Greenberg Glusker LLP

IRS Issues Notice Providing for the Delay of Federal Tax Filings and Federal Tax Payments

Greenberg Glusker LLP on

Although it has occurred sporadically – Notice 20-17 on March 18, Notice 20-18 on March 21, Notice 20-20 on March 27 – the IRS has finally issued comprehensive (almost) guidance in Notice 20-23 on April 9 providing for the...more

Burr & Forman

Tax Payment Plans: What Do You Do? (Part 3)

Burr & Forman on

If an individual or business owes federal taxes and does not have the current ability to pay these taxes, the IRS can “seller-finance” and offer a payment plan with the taxpayer. The primary benefit of a payment plan is that...more

Dickinson Wright

IRS Tax Penalties

Dickinson Wright on

In a famous saying by Benjamin Franklin, “… but in this world nothing can be said to be certain, except death and taxes.” In the past 100 years, it would be very safe to add to the end of that quote, “and the Internal...more

Burr & Forman

Unfiled Tax Returns: What Do You Do? (Part 2)

Burr & Forman on

The United States has a voluntary income tax reporting system. U.S. citizens, permanent residents, and businesses here must annually file income tax returns with the IRS, reporting their “worldwide income”, deductions, and...more

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