How can the the IRS improve installment agreements?

How can the the IRS improve installment agreements?

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gonnaneed

IRS Urged to Improve Direct Debit Installment Agreements to Avoid Taxpayer Defaults

Many times I get a call from taxpayers who were previously installed into a payment arrangement with the IRS. They call for help because their payment plan defaulted. This causes many different problems for taxpayers. One the IRS may not reinstate the plan and requires a large sum of money put down to enter into a new plan. The state of Maryland can flag your driver’s license and make you pay upwards of 25% down of your entire debt. Read more

Bill-of-Rights

Your Basic Rights as a Taxpayer

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Bill-of-Rights

Taxpayer Bill of Rights

Every taxpayer has a set of basic rights that they should be aware of when dealing with the IRS for any matter. Below are a few brief descriptions of the rights and what they mean.

#1 The right to be informed
The right to be informed means several things. The tax code is very complex, and with years of study, is still not mastered by many. So what does the average person have to do to understand and be informed? It is IRS and their representatives duties to make sure forms are explained and how to comply with the tax code is made very clear to all taxpayers. If you don’t understand something, ask for clear explanations. Read more

IRS Payment Agreement

Understand Your IRS Agreement So You Can Avoid Default

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What Is an IRS Installment Agreement?

The IRS works with taxpayers to develop installment agreements that allow them to pay their delinquent balance over time and get back into compliance with both the IRS and the State of Maryland. If you enter into one of these installment agreements, you can choose how much you pay each month as long as you pay off the full amount within six years.

Installment agreements offer a great opportunity for you to pay your taxes in full on a set timeline, and they can help you avoid liens, levies, garnishments, and other potential negative consequences. However, making late payments or missing payments altogether can put you into default, which can lead to trouble.

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Do tax preparers know what they’re doing?

Do tax preparers know what they’re doing?

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The article was originally published in The Daily Record.

Consumer groups pushing federal and state lawmakers for certification and education

By: Bloomberg Ben Steverman February 16, 2016

For several years, researchers have been sending people into tax preparation offices to test the quality of the work. The results have been scary:

* A tax preparer in North Carolina wasn’t sure what to do with one client’s dividend income form. She decided to just ignore it. Read more

First Time Penalty Abatement

First Time Penalty Abatement

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taxes

The first time penalty abatement or FTA was introduced almost 15 years ago. Despite its long time in existence, it is almost never taken advantage of by most qualified taxpayers. Read more

haven't-paid-taxes

I haven’t filed in years please help!

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It is nothing to be ashamed of, millions americans fail to file taxes every year. Most of my clients have not filed taxes in over ten years or more.

But what can happen if you don’t pay taxes?

The answer is a lot can happen. The IRS can legally seize your home, business, assets, future tax returns, garnish your paychecks, levy bank account, place a lien on your home, prevent you from getting a license and possibly bar you from renewing your passport. Read more

I Always Thought I Could Deduct That

I Always Thought I Could Deduct That

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kevin-hart

I always thought I could deduct that!

A growing number of calls are coming into my office daily for audit representation. Taxpayers want to get the best return possible, however many have received incorrect advice. Sadly many times I have to be the bearer of bad news and tell taxpayers that these expenses will not allowed. Below is a listing on common deductions that are NOT allowed.   Read more

I live in Florida with a Maryland Tax Debt

I live in Florida with a Maryland Tax Debt

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As a tax resolution attorney, I have clients all over the world. Are you surprised to hear that people in Canada, Thailand, France, and Egypt have U.S. tax problems? Now this usually stems from a portion of time living in the U.S. or having U.S. investments, but nonetheless they are still tax problems. Our firm is proud that we are able to handle federal and local tax controversies for clients all over the globe.

Where does Florida come in?
A little closer to home, we have our Florida friends and frequent resolution clients. Are you surprised that a tax attorney in Maryland has a large number of clients in Florida? These tax problems occur for many reasons but most commonly are a result of dual residency. Read more

What can I deduct on my tax return?

What can I deduct on my tax return?

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4273614

Often clients ask me what they can deduct on their taxes. The answer is not so cut and dry. It really depends on each client’s specific situation. Below I have compiled a list of possible deductions. Remember you must maintain accurate records to substantiate your deductions. I hope this helps in preparing and planning for tax season.

Schedule A Itemized Deductions Read more

audited by the IRS?

What are my chances of being audited by the IRS?

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The IRS reported that their percentage of individual audits has drastically been reduced by recent budget cuts. They have fallen to record lows not seen in over a decade. Operating with over 20% fewer revenue agents the IRS struggles to keep up with their workload.

How does this impact audits? Read more