Tag Archives: IRS

Steps the IRS is Taking During the Coronavirus Crisis: Individuals

With news of the rapidly moving coronavirus changing fast, the US government and the IRS are responding daily. To answer coronavirus-related questions, the IRS has created a website that can help taxpayers and small business owners navigate uncertain times. In coordinating multiple agencies– the US Department of the Treasury, the Internal Revenue Service (IRS), and […]

Learn More About Highland Tax Group and President, Mike J. Wallen!

We had the opportunity to interview with Voyage Denver recently and the details of the interview are below! We thought we would share some good news today! The article can be read here! How Did You Get Started? I started in the tax resolution industry in March of 2004. Prior to that, I attended and […]

Installment Agreement Direct Debit Frequently Asked Questions

This information is straight from the IRS website. Links provided and Q&A below. To help people facing the challenges of COVID-19 issues, the IRS through the People First Initiative will temporarily adjust and suspend key compliance programs. Installment Agreement Direct Debit Frequently Asked Questions For taxpayers under an existing Installment Agreement, payments due between April […]

What’s Next: IRS Help as Coronavirus Virus Crisis Grows

The coronavirus pandemic has sparked action by the US government as it tries to curtail the damage to the economy. As economies around the world take a hit from the global crisis, some countries are responding with sweeping tax changes for this year while others are hardly acknowledging the crisis. Here in the US, the […]

What’s Next: Government Help as Coronavirus Virus Crisis Grows

The coronavirus pandemic continues to rattle the US economy with the stock market riding a rollercoaster of constantly breaking news. And while other countries like China have battled this crisis for months now, it can be risky to compare countries with such different economies to what exactly will happen in the US. With the global […]

Steps the IRS is Taking During the Coronavirus Crisis: Small Businesses

The coronavirus pandemic is sending shock waves through the US economy, leaving taxpayers with many questions—especially as we approach traditional tax time. In response to the rapidly evolving crisis over the coronavirus, the IRS has created a website to help taxpayers and small business owners navigate uncertain times. Businesses with fewer than 500 employees can […]

What to Say (and What Not to Say) When Communicating with an IRS Agent

The suggestions highlighted below will help you communicate more effectively with the IRS on behalf of your client.  Be Prepared With the Proper Documents Prior to calling, gather relevant tax documents from your client to ensure that you’re fully prepared to answer any questions IRS agents may pose. The more organized and in charge you […]

What’s Happening to IRS Workers Because of the Government Shutdown?

While most taxpayers have natural concerns about how the shutdown of the federal government will affect their tax returns, the IRS workers themselves face perhaps an even greater concern: How will they survive financially until the government reopens? More than 800,000 federal employees across all branches of government are truly feeling the pinch for the […]

The Pros and Cons of Streamlined Program vs. OVDP

You face a challenging financial situation. You want a reprieve—a clean slate. Both streamlined programs and the Offshore Voluntary Disclosure Program (OVDP) may be able to help. What are these options? How do they compare to one another? Which should you choose? The Pros and Cons of OVDP Are you worried about criminal prosecution because […]

Differences Between the Financial Crimes Enforcement Network (FinCEN) and the IRS

Do you understand the differences between the Financial Crimes Enforcement Network (FinCEN) and the IRS? If not, you’re not alone. Let’s clear up your confusion about these two very closely associated components of the U.S. Department of the Treasury. FinCEN The primary function of FinCEN is to protect the U.S. financial system from any improper […]