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Part II: How Tax Debt May Keep You From Traveling–Even Within The US

A New Law Means That Delinquent Taxpayers May Lose Their Passports Part II A recently passed law–known as the “FAST Act”–now requires that the IRS notify the US State Department of citizens who are seriously delinquent on unpaid taxes–those who owe in excess of $50,000 and are under a tax lien. Once the IRS sends […]

IRS Direct Debit Program

The IRS will allow for a repayment plan to be auto-drafted out of a checking or savings account of your choice. However, if you feel the need to set up an IRS direct debit payment plan be ready for a few hurdles: You will need to be sure to provide banking information including your bank […]

What Will IRS Budget Cuts Mean in 2015?

The IRS promised to cut their budgets in 2015, again. The unfortunate part is what the taxpayer, myself as a practitioner, as well as others will deal with when looking to speak with an IRS representative. Below are a few examples of what we can expect in 2015: – Much longer hold times. The hold […]

Interest Rates Remain the Same For Q1

IR-2014-111, Dec. 4, 2014 WASHINGTON – The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2015.  The rates will be: three (3) percent for overpayments (two (2) percent in the case of a corporation); three (3) percent for underpayments; five (5) percent for large […]

Innocent Spouse Claim Accepted Saving $38,000!

Our client came to us last spring with an IRS tax problem covering tax years 2008 and 2009.  The tax liability stemmed from two joint returns filed with her now ex-spouse. She came to us not knowing what to do or whom to turn to regarding the IRS claim.  We began work right away. Fortunately, […]

Has the IRS Levied Your Bank Accounts?

Our client recently contacted us due to the fact she assumed her bank accounts had been levied.  We somewhat scratched our head at her calls and emails.  Let’s go into a little more detail regarding the case. First and foremost the client came to us last spring with a tax bill totaling $30,000.  She claimed […]

Statutes Expire on IRS Tax Bill Generating Savings of $40,000!

We had a client come to us in April of this year with a $60,000 tax bill. His greatest concern was not only savings, but also making sure he could sell his home with the least amount of exposure to his IRS tax liability.   We immediately began working on his case. The first step we […]

State of Colorado Wage Garnishment Released!

We recently had a client who came to us with quite the State of Colorado income tax issue.  He came to us with a $10,000 bill from the State.  Further, the State of Colorado had actually assessed all of the tax liability he owed due to the fact he had not filed a tax return […]