Offer in Compromise “OIC” Basics You Should Know
Before we get start with this topic keep in mind there are 3 types of OIC’s. With that said an Offer in Compromise, OIC is an agreement between a taxpayer and the Internal Revenue Service that settles...
View ArticleHigh Dollar Cases Are Going to the Field: Meaning More Scrutiny, Aggressive...
This is HUGE news, Beginning, October 1st (yes it has already begun), the IRS is transferring all cases that were previously handled by the “High Dollar Unit” to local Revenue Officers out in the...
View ArticleDon’t Fall Prey to Tax Scams – IRS Tax Tips
Annually, the IRS classify a list of common tax scams called the “dirty dozen.” The IRS attempts to educate taxpayers about the scams that can end up causing them great financial harm and future...
View ArticleThe IRS Can Increase Collections By Reducing the Time Between Balance Due...
WASHINGTON — The Internal Revenue Service (IRS) could potentially collect additional revenue each year by reducing the time elapsed between notices it sends to taxpayers who owe taxes, the Treasury...
View ArticleIRS Tax Problems
Tax Problems? Millions of Americans today owe back taxes to the IRS. Unfortunately, when you owe back taxes regardless of the amount, the IRS will eventually put you into collections which starts with...
View ArticleIRA Withdrawal; Taxed or Not Taxed?
Generally withdrawals from IRAs (individual retirement accounts) as well as other tax deffered retirement plans are in fact taxable by the federal government. You should also expect to pay state income...
View ArticleIRS Cancels Furlough Day
Finally some good news for IRS employees; The IRS will be cancelling the previously scheduled furlough day for July 22. The reason for the cancelled furlough day is because the continued effort to cut...
View ArticleBeware of Fake IRS Websites
With tax and identification fraud on the rise, the IRS issues warnings to be cautious of fictitious IRS websites. Apparently there are quite a number of website wannabes that are solely in place to...
View ArticleSales Tax Holidays Coming Up
Many states will soon be having their sales tax holidays. During these particular days sales tax will not be imposed on purchases. Yes, that means what you see on the sales tag is what you will pay, no...
View ArticleHighway Use Tax Coming Up
If you are a the owner/operator for a commercial vehicle weighing greater than 55,000 lbs then you should know by now that the Highway Use Tax is due on September 3. This gives tax payers an...
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