The IRS Taxpayer Advocate helps taxpayers resolve problems with the IRS and also recommends changes to help prevent problems in the future. The Taxpayer Advocate handles those issues when the tax problem is causing significant financial difficulty, when you or your business are facing immediate, adverse threat and when you have tried to contact the IRS repeatedly to no avail.
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Installment Agreements and the IRS: Settling Your Debt
In an ideal world, everyone would be able to pay their taxes in full and on time, but sometimes it just isn’t possible. If difficult circumstances mean that you are coming up short during a tax season, it is probably the source of a lot of stress and anxiety.
The instinct to avoid the issue may be strong, but it can cause your problems to multiply exponentially. Interest, penalties, and other severe consequences can begin to build up. The most important thing for anyone struggling with their taxes to know is:
- the IRS can usually work with you, but only if you work with them, and
- calling a tax attorney is often a better idea than seeking out the advice of your CPA.
Bankruptcy and Automatic Stay
According to United States bankruptcy law, an automatic stay is defined as an automatic injunction, the purpose of which halts the actions of creditors to collect debts from a debtor who has filed for bankruptcy relief.
Provisions for automatic stay fall under section 362 of the U.S. Bankruptcy Code, which suggests that the stay begins automatically when the debtor files a petition with the bankruptcy court.
Although a stay is automatic, secured creditors may file a petition with the bankruptcy court for relief against the automatic stay if they can show cause.
The Differences Between the Federal System and the State of California
As a small business owner, you are used to dealing with the IRS and the state. You file income taxes with the IRS every year and file returns with the state when they are due. Paying tax is paying tax, right? So, why is there such a difference between the way the IRS plays versus the state?
How to Work with Brotman Law on Your IRS Collections Case
The biblical tale of David and Goliath is certainly inspiring and does much to instill the belief that you can overcome any opponent, no matter how much they out-size, out-weigh or out-spend you.
Unfortunately, this is not a fair comparison to use for someone going nose-to-nose with the IRS.
What Is the FAST Act?
The IRS means business when it comes to recouping what is owed to them. Their latest strategy is implementation of the FAST Act. Simply put, if you owe more than $50,000 to the IRS, the IRS can seize your passport, thus prohibiting your ability to travel outside the U.S. This can be particularly problematic if you frequently travel overseas or have a residence in another country.
How to File an IRS Interest Abatement
A common complaint I receive from many of my clients is that their IRS liability has increased substantially due to the penalties and interest that have been tacked on to the account (most of these clients are considering submitting an IRS penalty abatement).
What if I Cannot Pay the IRS? Currently Non-Collectible Status
When slapped with a staggering tax bill, very few people have the luxury of being able to pay the amount due in full. If that is you and you have exhausted all other repayment options, you might consider opting for Currently Non-Collectible Status (CNC). While this option is not for everybody, it can stall the collection process until you can come up with a solution to pay what you owe. We understand the frustration and embarrassment of being in this position and we can help. Keep reading to learn if you are eligible and if you have questions, feel free to give us a call.
What Are IRS Bank Levies? [Definition & Examples]
When the IRS attaches a levy to your bank account, you know they mean business. In short, the IRS can seize your checking and savings accounts and use the funds to satisfy your tax debt.
When that happens you feel helpless. You are facing having literally no money to live on. You are in an impossible situation, or so it feels.
5 Strategies to Resolve Tax Debt with the IRS
Dealing with the IRS is a royal pain, regardless of how much or how little you owe. If dealing with the IRS Automated Collection System (ACS) is making you pull your hair out, here are five strategies that you can use on your own to get through. The good news is that these techniques are simple and do not cost anything. All it takes is a little planning and a lot of patience.