If you don’t pay your taxes (or make arrangements to settle your debt), the IRS may seize and sell any type of real or personal property that you own, or have an interest in.
One of the first things the Taxman will target is your bank account(s). This is achieved by sending a Notice of Levy to your bank. They do not need to specify the account number. They simply inform your financial institution that it has been ordered to remit all funds for which the taxpayer has an unrestricted right to withdraw funds (signature authority), as of the date of the notice, directly to the IRS in 21 days up to the amount owed, as indicated on the notice. By law, Continue reading IRS Levy→
The threat of an IRS Audit can invoke the most intimidating feelings possible. If you are unfortunate enough to be chosen for this unwanted engagement, your experience will most likely be time consuming and costly.
This week, one of my favorite and most exciting annual tradition tips off: March Madness.
Over the next 20 days, my TV will amplify the sounds of crowd noise, sneakers squeaking, and whistles blowing. Names, such as Blue Devils, Jayhawks, Wildcats, and Badgers will dominate discussions, and sports bars fashion will take on a colorful, collegiate inspired, twist.
For many of those who work from home, the process of calculating home-office deductions can be confusing. That’s why, beginning last filing season, the IRS has offered a simplified alternative option to calculate home-office itemized deductions.
If patience isn’t one of your virtues, then chances are – you may lose your cool this tax season.
Today, I’m addressing the declining service of the IRS.
Taxpayer service is poor and getting worse. You know its bad when the head of the National Taxpayer Advocate (an independent office within the Internal Revenue Service), Nina Olson jokingly offers the following advice: “bring your Continue reading IRS Delays→
In recent years, the IRS has taken a closer look at the relationship between small businesses and the individuals providing services for them. The agency is scrutinizing whether the individuals proving labor should be classified as employees or independent contractors.
My actor buddy, Roderick, is the most upbeat guy I know, and is also one of the most resilient. Relying on a profession where, according to estimates, more than 95% of Screen Actors Guild’s members make less than $1,000 per month, one has to have incredible faith. Despite the odds, he has unyielding passion and maintains the expectation of success.
There is a free IRS2Go app available, developed by the IRS, designed to track your 2014 IRS tax refund. This app is available in both English and Spanish, and is great for those who don’t have an hour (or more) of time to spend on hold, while waiting to speak to a live representative on the phone.
As we are entering the beginning stretch of 2015 tax season, ‘Scam’ season is concurrently revving up to kick into gear.
Each year, tax season becomes an opportunity for unscrupulous characters to prey on millions of unsuspecting, hard working individuals. Thieves are getting more creative, and are using more sophisticated methods to capture their share what has become a billion dollar industry.