Don't Fall for Tax Companies' Promises of an Offer in Compromise, but Don't Let the IRS Trick You Either
The IRS releases its "Dirty Dozen" most common tax scams every year and basically every year they warn taxpayers about Offer in Compromise “mills” who will take your money and promise you the world only to leave you with nothing…
And then they promptly try to trick you into calling the IRS yourself so THEY can be the ones to take your money and leave you with nothing.
The IRS Started Up the Automated Federal Payment Levy Program Again
I’m still talking about this because people don’t seem to be getting it.
I know the IRS hasn’t sent anything to you for like 5 years and so you convinced yourself the tax just disappeared and was never coming back.
How to Navigate IRS Identity Theft with a Smile (or at least a resigned smirk)
As of April 2024, it's taking the IRS over 22 months to resolve identity theft cases, with approximately 500,000 cases unresolved.
According to the latest National Taxpayer Advocate report to Congress, ”Recent reports reveal that these delays are not just inconvenient—they're downright "unconscionable."
Yikes.
The IRS Can and Will Revoke Your Passport
Here's what you need to know:
“Sorry, you can’t go through. Your passport is denied.”: Those are the LAST words you want to hear as you are about to fly internationally for a work assignment in London or a relaxing trip to Mexico.
When you have tax debt, you’re potentially putting yourself in that situation.
Technology is Transforming the IRS: Three Big Changes You Need to Know About
Working with the IRS is a nightmare.
Long waits, agents that don’t know what they’re doing, “courtesy” disconnect— it’s about as fun as having a tooth pulled.
But new technology is on its way; some of it is already here, which should make dealing with the IRS at least a little less painful? Hopefully?
Let’s talk about what’s coming.
Take Back the Power from the IRS: How to Master the Art of the IRS Office of Appeals
Have you ever felt that the IRS treated you unfairly?
Have you ever felt the IRS has too much power when it's making decisions?
If so, there’s a path to justice that doesn’t involve courtrooms or exorbitant legal fees - it’s the IRS Independent Office of Appeals.
By appealing to an impartial third party, the appeals process is your strategic tool to challenge and potentially overturn IRS decisions.
Let’s delve into why understanding and navigating this process is crucial for taxpayers in a dispute with the IRS.
The IRS Audit Increase is Already a Disaster and The Middle Class is Still Getting Screwed
The IRS got a whole bunch of money from the so called “Inflation Reduction Act,” to target "the wealthy," but a recent audit by the Treasury Inspector General for Tax Administration (TIGTA) found that IRS audits still unfairly targeted the middle class despite assurances from the IRS that they wouldn’t.
IRS AUDITS FOR THE WEALTHY ARE ABOUT TO GO CRAZY
🚨 Accountants Alert: The IRS is gearing up for a major overhaul in tax enforcement, targeting the wealthy and large corporations. By 2026, audits for households with incomes above $10 million will increase by 50%, and corporate audits are expected to almost triple.
If you're an accountant, and you serve high-income taxpayers, this is what you need to know to keep your clients in compliance.
IRS Warns: Beware of "OIC Mills" that Promise Offer in Compromise for Everyone
Every day on the radio, tax debt companies shout with confident belligerence that anyone can resolve their tax debt for "pennies on the dollar." Sound too good to be true?
It is.
Relax. You Can Sell Your Home Even When There's an IRS Lien
Do you have an IRS tax lien?
You’re screwed if you have to sell your home, right?
Nope.
You’re absolutely able to sell property that is subject to an IRS lien.
But first, it's important to understand that a tax lien and a tax levy are two very different things.
The IRS is Cracking Down on Nonfilers and Unfiled Returns
Billions of dollars are floating away into the ether each year, unclaimed by the IRS, not due to evasion or fraud, but something seemingly simpler—tax returns that never got filed.
The IRS has had enough.