Owing the IRS money is a stressful process. Adding long wait times to that process just makes the stress even worse. But, as many people have experienced recently, long wait times for tax documents processing have become a common problem. This isn’t just because the IRS wants to make you wait. They are working hard to fix the problem, even if it may not seem that way to everybody.
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.
Indian police have arrested 70 people and are questioning hundreds more after uncovering a massive scam to cheat thousands of Americans out of millions of dollars by posing as U.S. tax authorities and demanding unpaid taxes, a police officer said Thursday.
Recently CNN reported on a raid of Gladys Knight’s Signature Chicken & Waffles restaurant by Georgia’s Department of Revenue. Shanga Hankerson, Knight’s son, was accused of stealing roughly $650,000 by withholding sales taxes owed to the state.
Last week, we wrote about the use of outside debt agencies to start collecting tax debts (you can check out the blog here). In conjunction with this, the IRS recently announced the end to their hiring freeze. That’s right, America’s best-loved agency is beefing up its staff.
Most people would agree that any notice coming from the IRS is scary news. So much so, that many taxpayers cringe when receiving correspondence and leave important notices, like a CP2000 Notice of Underreported Income, unopened.
While the number of small businesses continues to shrink, much of it due to astronomical taxes and other fees, tax protections and loopholes for big corporations continue to go unchecked. Between 2008 through 2012, corporations have paid an average of 14 percent of profits in taxes.
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.
The 2013 tax season is on pace to match 2012 where 148 million returns were filed with almost 38 million of those owing unpaid taxes. Direct Tax Relief (DTR) assists…
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).