Can the irs take your 401k if you take it out and owe taxes ?
You can, but you need to visit with a tax atty to ensure you cover your tax issues.
Scottsdale, AZ
Tax Lawyer at Scottsdale, AZ
Practice Areas: Tax
You can, but you need to visit with a tax atty to ensure you cover your tax issues.
You are required to report your income. If you banked your pay checks, go back thru your bank statements and recreate your total wages from the...
She needs to seek assistance in amending the return. She is not in alot of danger at this time, but she should move to amend before the IRS...
I have many clients in the same position. The backlog from the pandemic shutdown has really slowed the processing of the returns.
Agree with both attorney's answers. Also, be sure to calendar the 5 year compliance period beginning the date of the letter stating that you have...
The IRS will redirect any overpayments made by a taxpayer to pay accrued child support liabilities. Need more facts to adequately respond: Is the...
The answer is, in a normal world, the IRS will offset the overpayment against past due tax liability and apply it "in the government's interest (as...
Yes. Pay it as the S Corp funds have already been taxed (or will be reported this cycle). Be sure to account for that payment - tell your CPA as...
You are required to keep good books and records, and that includes keeping track of charitable donations in the instance you are audited. A good...
depends on facts: has the IRS contacted you to file the past due returns? Do you have start-up expenses in 2017/2018? type of corp entity - C corp...