Why do I need to make estimated quarterly tax payments?
Aug 07, 2019
It is important to make quarterly estimated tax payments if you are self employed. The IRS believes that the tax system is a pay as you go system, meaning when you file your tax return in April, you s...
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Why did my tax returns get selected for audit?
Aug 07, 2019
Tax returns can be selected for audit for a variety of reasons. The most common one is that the income that you put on your tax return does not match the 1099 or W-2 forms, which the IRS has received....
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What is a levy?
Aug 07, 2019
A levy is a tool that the IRS uses to obtain money from you. If you fail to enter into a payment agreement or some other resolution with them, the IRS’s next step will be to levy your bank accounts, o...
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What if I miss an IRS installment agreement payment?
Aug 07, 2019
If you miss an IRS installment agreement payment or you think you’re going to miss an IRS installment agreement payment, you need to contact the IRS right away to advise them that you’re going to miss...
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The IRS filed a federal tax lien against me. What does this mean?
Aug 07, 2019
When the IRS files a tax lien against you, this is designed to show other creditors that you owe the IRS money and that the IRS stands in first position. So, it’s important to know that after a tax li...
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Should I hire a tax resolution company or a law firm?
Jul 10, 2019
A question we are frequently asked is, whether a prospective client should hire a tax resolution firm or a tax attorney. It’s important to note that a tax attorney has attorney client privilege with t...
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My tax return just got selected for audit. Should I call my tax preparer to represent me at the IRS
Jul 10, 2019
If your tax return is selected for audit I suggest that you contact a tax attorney to assist you with this. Tax preparers are great at preparing tax returns, however tax attorneys usually know the Rev...
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If my spouse owes back taxes before our marriage, will the IRS take my refund every year?
Jul 10, 2019
If your spouse owes back taxes prior to your marriage, then the IRS can take any refunds which come from married filing joint with your spouse. However, if you file married filing separately, then the...
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If I have a bank account overseas, do I need to report this to the IRS?
Jul 10, 2019
If your bank account overseas is in excess of $10,000, you do need to report this to the IRS. The IRS has become increasingly aggressive about finding taxpayers who have offshore accounts that have no...
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I just realized that I must file U.S. income tax returns for prior years. How many years back do I h
Jul 10, 2019
If you have not filed tax returns for many years, the IRS will require you to file six years of tax returns going back. If you have trouble obtaining any financial documents in order to prepare those ...
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