IRS-imposed penalties and interest charges are discussed throughout the book. A $7,000 tax bill can accumulate $15,000 in interest and penalties.
If you are in business for yourself, or you work for someone who is, know that the IRS is watching. There are three major concerns of the IRS.
It is a crime to cheat on your taxes. In a recent year, however, fewer than 2,000 people were convicted of tax crimes —0.0022% of all taxpayers.
The tax laws contain special rules affecting folks related by blood or marriage, and people who own property together. Tax duties don’t end with your death.
You’ve tried to solve your problem with the IRS, but no one seems to want to help. So whom can you call? The IRS Taxpayer Advocate Service (TAS).
If you don’t deal with the IRS using any of the options discussed in Chapter 6, “When You Owe the IRS,” you are likely to face IRS enforced collection measures.
According to the IRS, 15% of all taxpayers owe back taxes. And this figure includes only people who have actually filed tax returns.
You lost your audit and did not reach a settlement with the IRS on appeal. What’s next? You have two choices—you can accept your fate or you can go to court.
Your Name (required)
Your Email (required)
Your Phone Number (required)
Any information sent to us is bound by attorney-client privilege and will remain confidential.
You can call us at 1-800-291-4881.