Because the TAS is an independent organization within the IRS that is offered free of charge, you must meet certain requirements in order to take advantage of their services. The people who often qualify for taxpayer advocate assistance fall in to five main categories based on their circumstances: 1) If you are in a situation
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What is the IRS Taxpayer Advocate Service?
IRS Taxpayer Advocate Service The Taxpayer Advocate Service (TAS) is an independent service within the IRS which helps taxpayers resolve problems with the IRS and recommend changes which prevent any problems in the future. If you qualify, the service can help if: your problems with the IRS are causing financial hardship for you, your family,
IRS OVDI – Role of the Attorney in the Voluntary Disclosure Process
Role of the Attorney in the Voluntary Disclosure Process An attorney that specializes in taxes can be a great resource to those who are seeking to rectify the non-disclosure status of any foreign accounts and/or income. Although participation in the Voluntary Disclosure program reduces the likelihood that the IRS will pursue further civil and criminal
IRS Tax Lien – Release and Subordination
IRS Tax Lien – Release and Subordination When a taxpayer has an IRS lien placed against them, resolving the lien is of the utmost importance in reducing its impact on the taxpayer, especially in regards to the taxpayer’s financial situation and credit. If a taxpayer has the means and can pay off the balance of
IRS Tax Lien – Lien Withdrawal
IRS Tax Lien – Lien Withdrawal The IRS will place a tax lien on a taxpayer who has failed to pay a tax debt. By placing a tax lien on the taxpayer, the government has placed a legal claim against their property. This usually will result in restrictions in the ability to sell the taxpayer’s
IRS Tax Lien – Avoiding a Lien
IRS Tax Lien – Avoiding a Lien IRS Tax Lien – a dreaded word to the average American taxpayer. However dreaded the words are, many do not know what a tax lien is, or what to do when faced with the potential of having one placed against them. A tax lien occurs when the IRS
IRS Penalty Abatements – Undue Hardship
If a taxpayer is unable to make their tax payments due to a financial inability to pay them, in some cases they can be granted an Undue Hardship Penalty waiver. This waiver generally only applies to taxpayers who have filed their returns in a timely manner. However, just like the other penalty waiver provisions, this
The Affordable Care Act and Your Taxes
Time is almost up to enroll in the Affordable Care Act’s (ACA) federal or state marketplace health care, and if you are not enrolled in minimum coverage health insurance by March 31, 2014 you must pay a penalty. We know the Affordable Care Act is confusing, so we tried to break it down and put
IRS Penalty Abatements – Ignorance of the Law
IRS Penalty Abatements Many taxpayers do not have a wide grasp of the myriad of regulations and procedures that make up US Code Title 26, or what is more commonly known as the Internal Revenue Code. Because of this lack of knowledge, some taxpayers can find themselves facing significant tax penalties and interest charges due
Quiet v. Voluntary Disclosure
IRS OVDI – Quiet v. Voluntary Disclosure In some cases, a taxpayer who has previously unreported foreign income may decide to amend their tax returns in order to avoid some of the harsh penalties involved with non-disclosure rules. They also pay any past due penalties and interest that has accrued based on this new unreported