Another tax deadline recently passed in Tennessee. Many people may enjoy this time of year as they receive tax refunds, but not everyone falls into this category. There are many other individuals who owe taxes or have not filed a tax return yet for 2017. This can be a very uneasy time for people in
Read MoreTag Archives: Tax Law
There are options for people who owe taxes
The deadline is fast approaching for people in Tennessee to file their taxes. Some people may look forward to this time of year if they receive refunds from the IRS, but this is not true for many others. Many individuals will owe taxes when they file their tax returns or may owe taxes for past
Read MoreThe new tax bill makes some big changes to what people will owe
As people in Tennessee are probably aware, over the last few months both the House of Representatives and the Senate have been working on a new tax bill to overhaul the current tax system. After meeting together, the House and Senate both settled on a joint bill which was passed by both the House and
Read MoreFederal government will no longer confiscate tax refunds to cover old SSA debt
Anyone who has gone through the traumatic experience of losing a parent knows that the mourning process can take awhile and that the sadness will linger for some time. Indeed, the emotions are so strong that it can still prove jarring and even frustrating to receive some type of mail addressed to a parent years
Read MoreWhy prudence is key when facing an IRS audit — II
Last week, our blog discussed how even though people throughout Tennessee and across the nation are undoubtedly grateful to have the stressor that is Tax Day 2017 firmly in the rearview mirror, there are some for whom this tax-related stress will endure. Specifically, we talked about the unfortunate reality that some taxpayers will find an
Read MoreWhy prudence is key when facing an IRS audit
Now that we are over a week removed from Tax Day 2017, people throughout Tennessee and across the nation are officially breathing much easier. Indeed, those who put filing their returns off until the eleventh hour have likely already forgotten about the last minute dash to their accountant’s office or the post office, and instead
Read MoreIRS’ new passport restrictions scheduled to take effect next month — II
A few weeks back, our blog began discussing how the Fixing America’s Surface Transportation Act of 2015 contained a little known provision calling upon the IRS to begin working with the State Department to revoke, deny or otherwise limit the ability of individuals with “seriously delinquent tax debt” to use passports. Indeed, this interagency initiative
Read MoreIRS’ new passport restrictions scheduled to take effect next month
Six years ago, the Government Accountability Office, the independent congressional watchdog tasked with helping “improve the performance and ensure the accountability of the federal government,” released a rather eye-opening report examining the feasibility of leveraging passports as a tax collection tool. Specifically, this GAO report determined that in 2008 alone, passports were issued to 224,000
Read MoreWhat’s the difference between income tax negligence and fraud?
While it might seem strange to be talking about the much-dreaded chore of doing your taxes with Thanksgiving only days away, it actually won’t be long until many people find themselves camped out in front of their computer or at their kitchen table trying to make sense of a myriad of arcane tax regulations. Given
Read MoreHow taxpayers can find much-needed relief via an offer in compromise – II
When a person enduring serious financial troubles receives a letter from the Internal Revenue Service demanding payment for a past-due tax debt, it can prove to be incredibly distressing. That’s because unlike the typical creditor, the IRS has both vast resources and significant enforcement options at its disposal. As we discussed in an earlier post,
Read More