Category Archives: IRS Audit

IRS Fresh Start Program

IRS Fresh Start Program

There is a new system called the IRS Fresh Start Program which aims to make it easier for people to pay back taxes and avoid a lien coming against them. There are three major parts to the IRS program. Tax liens, installment agreements and offers of compromise are the three features of the program.

The program increases the amount a person can owe before the IRS will file a notice of federal tax lien. Even though the IRS can file before the 10,000 limit this does increase it for the average person.

The IRS has also … Read the rest

IRS Tax Relief Programs

IRS Tax Relief

If you are looking for IRS tax relief information, maybe this will help you. The IRS has several tax relief programs for people who owe back taxes.

There is an Installment Agreement available to people who don’t have the money to pay their tax debt all at once. The program lets people make monthly payments until the whole debt is paid off. Another one that they have is an Offer in Compromise. This lets taxpayers settle their tax debt for less than the amount that they need to pay. The OIC helps taxpayers in limited circumstances.

In some circumstances, the … Read the rest

Knowing the tax debt solution secrets that your attorney may not disclose

As an increasingly large number of taxpayers in the US are defaulting on their tax payments, they found out that owing money to Uncle Sam can become a significant problem in the long run. For all those people who fall in the low income bracket, tax debt can be easily avoided but if they do, it should be dealt with quickly and smartly. The problem of unpaid tax debt can soon spiral out of control if not addressed properly through the debt solutions that are available for the debtors. While you may get help from a tax attorney during the … Read the rest

How Does The IRS Choose Who To Audit?

Quick Facts About the IRS Audit

Getting a letter from the Internal Revenue Service stating you’ve been selected for audit is a taxpayer’s worst nightmare and can create a lot of anxiety.

Sometimes these notices are simple, such as you forgot to sign a document or you made a math error. The more ominous possibilities, however, will question your income, deduction claims, and more.

The IRS definition of an audit states that is simple a review of a taxpayer’s return used to verify the tax amount paid and reported is correct. If you happen to be selected for an audit, … Read the rest