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FREE WITH EVERY PURCHASE - Receive
the complete and comprehensive answers to the 25 MOST FREQUENTLY ASKED QUESTIONS.
1. What are the different ways that I can resolve unpaid taxes? -
Short-term 30 to 90 day extensions, Monthly Installment Agreements, Offers
in Compromise, Bankruptcy, Innocent Spouse and Statute Expiration. Detailed explanations of each resolution are as follows. . .
2. What do I need to know BEFORE I call the IRS? -
You must know everything about your tax situation, which tax returns are filed/unfiled
and how much you owe the IRS. If you do not know, ask the IRS,
they must tell you. Next, you must know . . .
3. How long do I have before the IRS levies my bank account or wages or knocks on my door? -
If you owe money to the IRS and neglect to pay, they can and will levy bank
accounts, wages, accounts receivable, etc., and if necessary, come to your door. If
you do not
file tax returns, the IRS will . . .
4. How do I prevent the IRS from levying my paycheck, bank accounts, accounts receivable? -
First, read all IRS Notices and be responsive to all IRS requests. Second,
do not pick up the phone to call the IRS until .
. .
5. What does the IRS know about me and/or my business? -
They know which returns you have filed/not filed and all of the information on
the tax
returns that you have filed. They also know . . .
6. What will the IRS ask me? -
They will ask you general information like your Social Security Number (SSN),
address,
telephone numbers, date of birth, dependents, etc. They will also
ask you for . . .
7. What should I tell the IRS to resolve my tax problems? -
By law you do not have to tell the IRS
anything. However, if you want to protect your family's financial security,
not suffer levies or seizure,
and resolve your tax problem(s) once and for all, it is smart to . . .
8. Can I lie to the IRS? -
Yes, but it is not a wise thing to do. IRS agents talk to taxpayers all day,
every day and almost always assume that taxpayers are not being forthright. They interview . . .
9. Will the IRS believe what I tell them? -
Generally speaking, yes, but they are very suspicious. They question
taxpayers every day, all day and know all the tricks of the trade. They know . . .
10. Will the IRS lie to me? -
Not knowingly, but that is not the real problem. The real problem
is that
front line collectors are . . .
11. Will the IRS seize my car, my house, my business? -
The IRS can seize just about any assets needed to pay unpaid taxes. However,
you must . . .
12. Will the IRS want or take all of my income? -
The tax collector does not want all of your income. Tax collectors must allow . . .
13. Will the IRS allow me to pay my living expenses? Business expenses? -
Yes, within reason. The IRS must allow you to pay reasonable and
necessary expenses “for
. . .
14. What expenses will the IRS allow me to pay? -
The IRS will allow reasonable and necessary expenses for . . .
15. On what does the IRS base its collection actions? - First,
they look at your cooperation and
sincere efforts to resolve your own tax problems. Second, they must
make sure that all delinquent
tax returns are filed. Third, they must make sure that you are .
. .
16. What do I do if I have not filed past due tax returns? -
If you have not filed the past one to six years' tax returns, . . .
17. Can I go to jail if I have NOT FILED tax returns? -
Technically, it is possible. However, criminal prosecution is very
. . .
18. Can I go to jail if I have NOT PAID my taxes? - No,
there is no debtors' prison. If you . . .
19. How do I resolve unpaid taxes if I am a wage earner, self-employed,
a business, a corporation? -
Each of these situations is unique. Basically, INSTALLMENT
AGREEMENTS, OFFERS IN COMPROMISE and BANKRUPTCY can all be used to resolve unpaid
taxes
for these entities. The key is . . .
20. How do I resolve unpaid payroll taxes? -
Payroll taxes are considered by the IRS to be the most serious taxes they collect
and the IRS aggressively pursues their collection. If you have not paid payroll taxes for more than one quarter, . . .
21. What can I do about penalties and interest? -
Penalties and interest on late-filed tax returns and on unpaid taxes are significant. The
Late Filing Penalty can be 25% of the unpaid balance. There are
additional
penalties for . . .
22. I filed and paid my taxes, but now the IRS says I owe them more money. What do I do? -
Many IRS notices that propose additional taxes are simply correcting errors
on your filed tax returns. These corrections can be . . .
23. The IRS wants to audit my tax return. What do I do? -
Tax returns are selected for audit by the
IRS computer because something about your income or deductions does not fit
the general profile for your occupation, marital status, dependents, income,
deductions, etc. These
profiles involve . . .
24. How do I get a levy on my bank account or wages released? -
A bank levy is a one-time levy and attaches only to the funds in your account
at the time the levy is served.
. . . Wage levies, on the other hand, are continuous and attach
to all future wages until . . .
25. How do I find a professional to handle my tax problems? -
If you owe the IRS more than $100,000 and cannot pay the entire amount within
36 months, are under audit by the IRS, or are contacted by a Special Agent
regarding a criminal matter, you may want to consult a licensed tax professional. How do you find the right tax professional to represent you before the IRS?
Do you need an attorney? First, you need to know . . .
The ten pages of comprehensive answers to these commonly asked
questions will clarify many of the misunderstandings, misinformation
and myths regarding tax problems and the IRS. Now
select the module(s) that best fit your situation and learn
how to specifically
resolve your unique tax problem.
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