Foreign Interest Reporting Forms: File To Avoid Steep Penalties

We have written a lot in the past about the FBAR – – ¬† Report of Foreign Bank Accounts, the form on which you annually report any foreign bank or financial accounts if you had more than $10,000 during that year. There is a lot of focus on the FBAR, but in fact, that is not the only foreign …

Owe IRS Back Payroll Taxes? What To Do Right Now!


A payroll tax problem is the most serious type of tax you can have with the IRS. The IRS monitors all employers to see if you are late with payroll deposits. If you owe IRS back payroll taxes, you will be assigned a Revenue Officer and he or she will come to your place of business and will be very aggressive about collecting from you and gathering information. The Revenue Officer will subpoena a bunch of financial documents and they may or may not show you respect and understanding. They may suggest that you borrow money to pay off your debt, and then on the other hand file a Federal tax lien against you so that you can't borrow money.  


Yes, if you owe IRS back payroll taxes it is a horrible, stressful feeling. S0, if you are experiencing this, you are not alone.  And through all this, you have to assure your employees that everything will be alright, assure your customers all will be well, when in fact, you may not be sure of any of these things.


"What are my options if I owe the IRS back payroll taxes?"

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IRS Trust Fund Recovery Penalty: Common Questions Answered

The IRS Trust Fund Recovery Penalty has nothing to do with trust funds for opulent lifestyles. It is actually a tax assessed against those who said they were going to send money to the IRS on behalf of others but never did. In this article, we will answer some of the most common questions we are asked about the IRS Trust Fund Recovery Penalty.


What is the IRS Trust Fund Recovery Penalty?

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Dual Passport? The IRS Can Still Find Your Foreign Accounts!

Since the 2012 Offshore Voluntary Disclosure rules were passed, my office has spoken to hundreds of US persons who have undisclosed offshore accounts. Many have decided to use our services, some have decided to hire our OVDI attorney peers, and many have decided to roll the dice, because of a …

IRS Audit Penalties: Avoid And Reduce Your Tax Liability

Why are IRS audit¬†penalties imposed? There are probably some good public policy reasons, such as the penalties encourage taxpayers to properly report and pay their taxes promptly. A better answer is that the penalties help the government recover the expenses of …

IRS Partial Payment Installment Agreement: How Does It Work?

According to the IRS Internal Revenue Manual “All taxpayers are expected to immediately full pay delinquent tax liabilities. When this is not possible taxpayers may be allowed to pay their liabilities over a prescribed period of time. If full payment cannot be achieved by the” …

IRS Audit Appeal: How To Prepare For The Challenge?


In a previous blog, we answered the question What is an IRS audit appeal. I said:

It is your right to appeal the work of the auditor after he has examined your financial information and has issued his report. In his report, he details the additional amounts owed as well as the penalties and interest. The report also asks that you sign indicating your approval.

So what is the best way to challenge the auditor's conclusion? How do we prepare for the appeal? In this article, I will explain how we prepare for an IRS audit appeal.


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