IRS Fresh Start Program Helps Taxpayers Who Owe the IRS

Source: https://www.irs.gov/newsroom

Updated: 31-Aug-2017

The IRS Fresh Start program makes it easier for taxpayers to pay back taxes and avoid tax liens. Even small business taxpayers may benefit from Fresh Start. Here are three important features of the Fresh Start program:

Read more ...

Where the Candidates Stand on Your Taxes

OIC

How much of your paycheck you’ll keep under Clinton and Trump.

The Obama years saw the Bush tax cuts made permanent for all but the wealthiest, plus new Obamacare levies. Now the question of how much of your paycheck you’ll get to keep—and who should pay more or less—is back on the table in a big way.

Read more ...

Have You Heard? Tax Day Has Been Extended!

Tax Day If you are panicking about filing your taxes, then this is your lucky year. Because of Emancipation Day, an April 16 holiday celebrated in Washington, D.C., that marks the abolition of slavery in the region, you will find yourself with a little bit of a tax extension. Because the honorable holiday occurs on a Saturday this year, it will be celebrated the Friday before. That’s right! April 15, which means three extra days for all of you last-minute filers.
Read more ...

New IRS Passport Law Limits Travel to Those in Tax Debt

Have a tax debt near $50,000? You may find yourself unable to travel. In December, President Barack Obama signed a 5-year infrastructure spending bill. Sandwiched within this bill aimed to improve our nation’s highway and transit systems, was an IRS passport law.
Read more ...

Senate Hearings and Department of Justice/IRS Actions Likely to Drive up Reports of Foreign Banks and Financial Accounts (FBAR)

43,000 Taxpayers have disclosed their offshore accounts to IRS as Senate wants numbers to rise. Direct Tax Relief (DTR) assists clients with FBAR requirements On February 26, 2014 the Senate Permanent Subcommittee on Investigations held a hearing on “Offshore Tax Evasion: The Effort to Collect Unpaid Taxes on Billions in Hidden Offshore Accounts” (The Permanent Subcommittee on Investigations-Hearings-2/26/14).
Read more ...