The Internal Revenue Service (IRS) announced another expansion of its “Fresh Start” program by offering more flexible terms to its Offer in Compromise (OIC) program designed to help financially distressed taxpayers resolve tax problems more quickly.
An Offer in Compromise is a formal agreement between a taxpayer and the IRS that settles the taxpayer’s debt for less than the full amount owed.
Direct Tax Relief can successfully negotiate with the Internal Revenue Service (IRS) to have penalties removed from your account. The Internal Revenue Code allows penalties and the associated interest to be abated by the IRS if the taxpayer can show reasonable cause.
One of the main functions of the IRS is to assess and collect all federal income taxes due. The IRS has substantial authority and power that was given to it by Congress to carry out its goals.
Payroll tax problems are very serious and the IRS pursues their collection very aggressively. The government views it as a form of “stealing” since the funds were withheld from the employee and never remitted to the IRS.
Frequently there are taxpayers that do not file individual or business tax returns for one or more years for various reasons. Missing all or a portion of their records and documents, personal or financial hardship and/or neglect are one of many reasons to fall behind
IRS audits should be taken seriously because they often lead to additional tax years being selected for examination and other tax deductions not originally stated in the audit letter.
A bank levy is issued by the Internal Revenue Service when your taxes remain unpaid and resolution has not been reached. The IRS will freeze your bank accounts and seize any money in your bank account up to the amount that you owe, including penalties and interest.
A wage levy is used to seize your wages, commissions, or other income (often called a garnishment). The Internal Revenue Service can even garnish your Social Security income! You have only 30 days from the date of a Final Notice of Intent to Levy to either pay the tax in full or to find a solution to your back taxes.
Direct Tax Relief represents taxpayers in all 50 States across the country. It’s no secret that most States are in a financial crisis and are experiencing large budget deficits. This is the main reason collection efforts of back taxes have been tougher and more persistent by State tax agents.