Under law adopted by Congress about 20 years ago the IRS must follow a lock step procedure before it can begin enforced collection actions such as garnishment on wages, bank accounts, receivables and seizure of all other types of property. One of the most urgent type of call our office gets is one from an… CONTINUE
IRS Announces A New Payroll Tax Initiative
IRS recently announced a new “initiative” (July 31, 2015 e-mail for tax professionals), to make early contact with employers who are falling behind in their payroll taxes. According to the announcement, when it appears an employer may owe a balance at the end of the quarter, Revenue Officers will be in contact before the quarterly… CONTINUE
Settlement Options with IRS and Washington State When Your Business Closes
When a business fails and closes it often has unpaid federal and Washington State taxes. Usually there isn’t much in the way of federal income taxes (Washington State has no income tax) but even if there are unpaid income taxes those will not normally be a serious issue if the business has operated as an… CONTINUE
Footnote in IRS Manual Shows How to Save Money on Tax Penalty.
I recently had a conversation with a colleague concerning an IRS trust fund penalty case he had and was pleased that he had success with a little known footnote in the Internal Revenue Manual (IRM) which may save money for a company officer who would otherwise be liable for a payroll trust fund recovery penalty… CONTINUE
Sometimes an IRS Mistake is a Good Thing
It is easy to get discouraged by income tax bills, but it is a bad idea to get discouraged about a tax bill while there are still opportunities to contest the bill. If a client is willing and has a reasonable basis for challenging the validity of the bill we usually encourage him or… CONTINUE
It May Be a Good Idea to Know Tax Collection Procedure Before Filing
On March 11, 2014, I was online at CNN’s homepage and came across a link to an article called “Can’t pay Your Taxes? Don’t Panic: Here’s What You Need to Know.” I assume that the article was targeting income tax filers in contemplation of the current filing season, and it was correct enough as a simple explanation. But, as often happens when a complex… CONTINUE