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Posts Tagged ‘tax help’

currently not collectible

Are You Currently Not Collectible?

June 16, 2016

Although you should plan on resolving any delinquent tax bill, you may not necessarily have to pay the entire amount at once. In fact, you may not be required to pay anything, depending on your circumstances. There are several items to consider when you receive notice of an IRS debt, beginning with what your letter actually means. Notice of Assessment In the event that you pay too little or simply fail to pay a tax liability, the ...

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amended tax return

How and Why to Amend Your Return

December 28, 2015

You may file an amended return if you think you made a filing error or forgot to claim credits, deductions, or dependents. If you forgot to attach tax forms with your return, however, you may not amend your return. The IRS will ask you to send those. Generally, you can amend a return up to three years after filing it. How to Amend a Tax Return To amend Forms 1040, 1040A, or 1040EZ, you need to file ...

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taxpayer advocate contact

When to Contact The Taxpayer Advocate

March 20, 2015

Taxpayers may be able to have their IRS issues resolved by using the Taxpayer Advocate Service (TAS). The TAS is an independent organization within the IRS that was created to help taxpayers find solutions to their tax problems. Both individual taxpayers and businesses can use the TAS. The service is free of cost. Taxpayers who are experiencing financial difficulties and are unable to secure professional representation, or are unhappy with services provided by the IRS, can ...

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common causes of tax debt

Common Causes of Tax Debt

February 20, 2015

Taxpayers do not always wind up with a tax debt because they do not pay their taxes on time. In certain instances, a tax debt may come as a surprise. To better understand what to expect, consider these common causes of tax debt: Non-Payment of Taxes A common cause of tax debt is not paying what is owed before the filing deadline. If a taxpayer does not pay their entire tax bill during the filing period, the ...

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tax professional

Who is a Reliable Tax Professional?

September 29, 2014

You have to hire a tax professional, but you may not know how to select one. Of course, you want a thorough, reliable professional to handle your taxes. There are some specific considerations that will help you make a final decision regarding who to choose. There are three kinds of tax professionals that are suitable for most people: CPAs, tax attorneys, and enrolled agents. While CPAs are licensed accountants, not all of them specialize in income ...

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irs phone scam

How to Detect an IRS Phone Scam

September 04, 2014

Many people across the US have received unsolicited phone calls from people who claim to be IRS officials. The IRS reports that they receive complaints from people about fake phone calls all the time. The scam artist callers tell their victims that they owe cash to the government or the IRS. The scammers can also be threatening to the call recipients. People have lost entire life savings because of these scams, and, in ...

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penalty abatement of taxes

Penalty Abatement of taxes

September 02, 2014

Ideally, cooperation with the IRS by filing and paying your taxes on time is advised for tension and penalty-free tax life, but if you haven’t, do not panic. Penalties can still be abated if you have a reasonable cause. The IRS applies penalties for filing a tax return late and/or failing to pay taxes you owe by the deadline. Generally, failure to file tax returns calls for a greater penalty than failure to pay them. IRS ...

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