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When Does the IRS File Criminal Charges?

When Does the IRS File Criminal Charges?

By on Apr 29, 2019 in IRS | 0 comments

If you have been the subject of an IRS investigation or the IRS has been in touch with you about a potential audit, tax evasion or tax fraud, you should be aware of some basic facts regarding what the IRS can (and cannot) do in terms of filing criminal charges against you. Keep in mind that making an honest mistake on your taxes is not illegal and you will not mistakenly go to jail if that is what happened. The key here is to be knowledgeable and proactive and know when to get help. First off, remind yourself that IRS agents are not cops. They’re not deputized under any police banner and can’t come and arrest you. Employees of the IRS are in the same boat that anyone else who works for a regular government agency is. Would you ever scare yourself by saying that mail carriers or the Surgeon General were coming to take you away? Of course not! Take a deep breath and remember that making the right decisions with a cool head can help you walk away from a very difficult situation with a cleaner record than you had before. In fact, there’s a chance that you might not even be in as serious a situation as you think you are. Statistics for Being Prosecuted by the IRS When the IRS initiates contact with you over a serious matter (audit, tax evasion, tax fraud), you should definitely take note and be prepared to respond. But do not panic. It is actually very rare for an individual to be investigated for tax fraud (2%) and of those who are, only 20% are actually ever prosecuted (criminally or via a civil suit). Despite the low odds, you want to be aware of the process and the steps to take to avoid criminal charges. However, you do also want to keep these odds in mind. Chances are that you’re not going to actually even have to spend a single day in court if you take steps now to rectify the situation. It’s a safe bet that a majority of taxpayers who actually do get prosecuted were actively involved in stashing away money and trying to hide it from the...

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Can the IRS Seize Your Bank Account Without Any Notice?

Can the IRS Seize Your Bank Account Without Any Notice?

By on Feb 27, 2019 in Bank account levy, IRS | 0 comments

If you owe the Internal Revenue Service (IRS), and they have attempted to contact you about this issue multiple times, and you’ve not responded, then yes, the IRS can seize your bank account. But the real question is: “Can they do this without any notice?” The answer is no. The IRS is supposed to give you several opportunities to pay your taxes. This is mainly done by mail. While other forms of communications can easily get hacked, and even some can impersonate an IRS representative over the phone, the good old fashion United States Postal Service still has proven to be reliable. Although, there are some scam artists who may also send mail disguised as the IRS. So if you’ve received a letter from the IRS, address it! Whether you think it’s legit or not, you’ll be better off verifying the document with the IRS first. Unfortunately, you may have to waste some of your valuable time doing this, but it’s better to make sure that the letter is valid rather than to assume it’s a scam. Either way, the IRS ought to be notified. Do keep in mind that you should contact the IRS directly regardless of whatever information was printed on the letter. There’s a chance that scammers might include some sort of bogus contact information. Uncle Sam, however, always lets you get in touch with the IRS on a relatively direct basis. That being said, you have to act fast in order to avoid incurring some kind of future penalty or the dreaded seizure of an important account. If you’re worried about whether or not the IRS will take money from your bank account, there are several steps that need to happen before that can take place. And a lot of that has to do with you not being negligent. If you prefer to avoid the IRS seizing money from your bank account to pay off your tax debt, there are a few things you can do to prevent this: 1) Communicate Believe it or not, the IRS appreciates it when you communicate with them and explain your situation. However, it’s certainly worth noting that there’s a fine line between explaining your financial situation so that...

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How to Resolve a Tax Dispute with the IRS

How to Resolve a Tax Dispute with the IRS

By on Feb 19, 2019 in IRS | 0 comments

If you disagree with the IRS about a decision they have made regarding your tax return, you may assume that you don’t have any chance of resolving it in your favor. Well, as it turns out, you may have a better chance than you might think – especially if you follow some basic tips and the following strategy. Here is how we suggest you resolve a tax dispute with the IRS: 1. Do Not Panic A dispute with the IRS can cause significant anxiety and stress, but it doesn’t have to. Of course, you already have a full plate before having to worry about a potential tax dispute. Recognize that a tax dispute is very often resolved in writing, without a face-to-face meeting. Keep in mind that getting all worked about the problem won’t solve it, and it could even make things worse by making you chose a bad decision somewhere along the way. 2. Read Carefully and Respond Quickly Generally, the best response, if you receive a notice or letter from the IRS disputing a part of your tax return, is to take the time to read the entire notice, making note of the action requested, date requested and information that is requested. Many disputes with the IRS can be resolved with very little effort if you follow the directions outlined in the notice. If you disagree with the notice, pull together any/all supporting documentation that you have (receipts, tax forms, etc.) and respond in writing by the deadline listed in the correspondence. While it might seem like the federal government has a tendency to drag its feet, you don’t want to do anything that might provide them with the freedom of moving even more slowly. Reply well in advance of this deadline if at all possible to ensure faster service. 3. Appeal If you do not agree with a decision or ruling made by the IRS, you have the right to appeal. You can appeal the results of an audit or a change made to an offer in compromise in which the IRS has increased the penalties and fees associated with your payment. You may qualify for mediation services through IRS programs like Fast Track Settlement (FTS),...

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IRS One Time Forgiveness: Does It Apply to You?

IRS One Time Forgiveness: Does It Apply to You?

By on Dec 26, 2018 in IRS, Tax Debt, Tax relief | 0 comments

Have you heard offers on TV or online promising to eliminate all of your tax debt? Have you wondered if these promises could be real or are they just too good to be true? In reality, while no formal debt forgiveness plan actually exists, you might actually qualify for significant assistance from the Internal Revenue Service (IRS) that can help you get a clean slate where your taxes are concerned. Success Tax Relief is a full-service tax firm that can help determine whether you meet these criteria. Here are some of the instances where taxpayers may be able to get out from under their tax debt for much less than they owe.   Can Your Tax Debt Be Forgiven   1. How old is the tax debt? If your tax debt is more than 10 years old and the IRS has not made attempts to collect, then the statute of limitations has passed and you will not have to pay your back taxes. That is correct—the IRS has up to 10 years to collect from taxpayers and if they exceed this timeframe, they are not legally allowed to collect.   2. Offer in Compromise The IRS understands that there are instances in which they will not be able to collect the full amount a taxpayer owes. If you have a low income or are experiencing a significant financial hardship, you may qualify for an offer in compromise, which allows you to settle your tax debt for less than what you actually owe. This does not preclude you from having to file; you still must file all required tax returns and also fill out the Offer in Compromise application, which will ask for documentation that proves that you are unable to pay the full amount due. The IRS publishes an entire booklet on the process, which we can help you better understand at Success Tax Relief. If your application is rejected for any reason there is an appeals process. A positive: an Offer in Compromise does not affect your credit history or score, so it is an avenue worth pursuing if you qualify. The recent IRS Fresh Start Initiative has made the application process easier for struggling taxpayers.   3. Non-collectible...

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IRS Tax Levy: Handling Your Tax Liability in 2019

IRS Tax Levy: Handling Your Tax Liability in 2019

By on Dec 17, 2018 in IRS | 0 comments

Taxes are not the easiest process to handle and as humans we sometimes make mistakes. It is highly important to pay attention to the various pros and cons of ways to handle your tax liability in 2019. Do your due diligence when it comes to working on your taxes since you do not want to be caught in a tangled IRS tax levy web.   If you are having trouble with your tax liability consider looking for tax preparation tips in order to fully prepare for any mishaps that may occur. Taxes can be tricky sometimes, considering all the paperwork you need to fill out and the precise money handling needed. Do not fall into an IRS tax levy without looking at the ways you can prevent it and how to go forward after a levy has been issued.   What Is An IRS Tax Levy? Let’s start off by discussing what an IRS tax levy is, a levy takes property from the taxpayer to satisfy the debt. Before a levy is prompted the taxpayer will receive a lien, a formal declaration stating the money the individual owes to the debtor and what property they will be seizing from the candidate. If you have received a lien already, it is time to put your best foot forward and take the preventative steps to save your property.     You Have Options If you know you were late to file your taxes and have not paid on time- do not avoid the IRS. There are several ways to handle your tax liability without going to prison. Just remember to be as transparent as you can be with the IRS in order for them to work with you in resolving your debt. Some ways of resolving tax liability issues include:   Enter Into an Installment Agreement The IRS will ask you for proper financial information and other documentation in order to be considered for a payment plan. Be sure to have all papers in order and start thinking of the amount you are willing to pay in order to resolve your debt.   Request an Offer in Compromise This may be on the expensive side of taking care of your debt...

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How to File a Penalty Abatement Request

How to File a Penalty Abatement Request

By on Aug 2, 2018 in IRS | 0 comments

If you are late filing your taxes, the first thing you need to do contact the Internal Revenue Service (IRS) and let them know that you still have every intention of filing your annual taxes. You should also expect to pay a late filing and late payment (if you owe) penalty fee. These types of fees accrue on a daily basis. Each time you neglect to pay or file, the penalty fee adds on top of your late fees. This is where the amount you owe can quickly get out of hand. It’s also where many taxpayers find themselves in a substantial amount of debt. The professionals at Success Tax Relief are passionate about helping taxpayers get out and stay out of debt. One of the ways we do this is by empowering you with information. Many people are in tax debt because they don’t have the information needed to propel them into a better place financially. Many taxpayers might not even know that filing for a penalty abatement is even an option. As a rule of thumb, if you know you’re going to be late filing and in the process of requesting an extension, then by default, you should also file for a Penalty Abatement Request. How to File for a Penalty Abatement Request   There are 4 ways to go about filing for a penalty abatement:   Complete the IRS Form 843 Complete the IRS Form 843 to request an abatement on your annual tax filing. This form is a one-page form with only 7 questions—mostly multiple choice for you to answer. The first portion of the information you’ll need to submit is your name, full address, social security number, Employer Identification Number (EIN), telephone number and of course the dollar amount that you’d like to be abated. Also, don’t forget to sign this document. Neglecting one of these things can result in a delay and more fees added on to your tax balance. Call and verbally request a penalty abatement Anytime you call and speak with an IRS representative, he or she will make a record of the conversation you had. However, we encourage you to ask the IRS representative to provide a written letter to you so that there is some documentation to prove...

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