When a taxpayer falls behind in their tax payment obligations, figuring how to get back on track can be a difficult prospect. Between the limitations of a taxpayer’s capability to meet their past due taxes, and the purpose of the IRS to collect as much as possible of those same taxes, it can be a
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IRS Innocent Spouse Relief Requirements
Scenario: You have just received an envelope addressed to you and your spouse from the IRS. Upon opening the envelope, you are shocked to see that the IRS has adjusted a previously filed joint tax return due to income that was not declared on your original income tax return. Due to the adjustment, you and
Going Solo: How to Represent Yourself in an IRS Audit
Being audited by the IRS is one of the greatest fears that the average American taxpayer can think of. However, most people don’t realize that many audits can be easily resolved, and can result in no additional taxes. In the event your tax return is audited, it is important to realize that you do have
Bank Fraud
Bank fraud, or defrauding a federally insured bank, is a federal offense that can carry a state prison sentence of up to 20 years and/or fines of up to $250,000.[1] This form of fraud can refer to any beguiling or providing false information to a bank, credit union, or savings and loan association. Common types
Mail Fraud
As correspondence increasingly becomes more electronic throughout the years, it may seem as if traditional mail is becoming more obsolete; yet, this is hardly the case, especially in regard to the topic of mail fraud. Mail fraud, which is similar to wire fraud, is a federal crime that the government continues to take very seriously
What is Tax Fraud
We have all heard or seen the term “tax fraud” before, yet how much do we really know about the meaning of this phrase? The definition of fraud includes, but is not limited to, “an act or instance of deception, deceit, something false or spurious.”[1] For many, seeing the denotation of the word fraud is
Expense Categories
Expense Categories When the tax debtor is unable to meet his or her financial obligations, the Internal Revenue Service can provide a number of alternatives that will allow the taxpayer to meet those obligations over time. This is also known as an installment agreement, i.e. an agreement between the tax debtor and the IRS that
Seizures
The Internal Revenue Service will institute collection proceedings when a tax debtor fails to meet his or her federal tax obligations. One of the ways in which these collection proceedings can arise is in the form of the seizure of the tax debtor’s assets. A tax debtor facing this set of circumstances may find him
What IRS Agents Use to Locate Assets
The Internal Revenue Service (IRS) has a number of tools and resources at its disposal, which its Field Collection employees as well as other IRS personnel may use to track down a tax debtor’s assets. The IRS will track these assets for a wide variety of reasons. Whether it be to place a federal tax
IRS Collateral Agreements (IRM 5.6.1)
Internal Revenue Service (IRS) collateral agreements are agreements between a taxpayer and the IRS whereby the taxpayer makes a promise to the IRS to perform in some way. It may be a promise to pay a delinquency or file a return, but it is not to be confused with an offer in compromise. Unlike a