Everyone makes mistakes, and if you make an error while filing your taxes, you won't necessarily be penalized. The IRS will give you a chance to correct that mistake but within a limited period of time. When tax return amendment is necessary If you received an...
The complex nature of the U.S. Internal Revenue Code leaves many Texas filers seeking assistance from preparation professionals. While many tax preparers perform their services ethically, others might engage in deceptive or abusive practices. Taxpayers may not realize...
After an audit, those who experience disagreements with the Internal Revenue Service may appeal the decision. Despite the taxpayer's belief that the evidence submitted to the IRS reveals the agency's actions were in error, the IRS might not overrule the initial...
Dealing with the Internal Revenue Service in a U.S. Tax Court might seem daunting to some. Perhaps they don’t understand the purpose of the court or why they may need to file litigation. Sometimes, the IRS and a Texas taxpayer could have a disagreement they cannot...
Many people in the Fort Worth, Texas area are behind on their income taxes. The Internal Revenue Service has created an income tax installment plan to help. What are installment payment plans? If you owe toward a prior year’s income taxes, you can satisfy that debt by...
Government officials often refer to a Notice CP504 as the final notice. This is often the letter the Internal Revenue Service (IRS) sends a taxpayer before it plans to move forward with collection efforts. It generally includes the following information: Your bill. It...
Recent figures showed that U.S. residents owed around $414 billion in overdue taxes plus interest for 2021. Most Texas residents don't want to owe money to the IRS. However, the IRS offers U.S. citizens a way to pay tax debt through an offer in compromise. Overview of...
The Chief Counsel of the Internal Revenue Service (IRS) has announced a few changes to its itinerary. Chief among these will be an increase in the level of its tax enforcement measures. This is bound to affect businesses in Texas as in the rest of the country....
Taxpayers face major consequences for not paying their back taxes on time. In Texas, the IRS has the right to apply a federal tax lien on your property from a house to a car. There are different causes and effects of a lien for unpaid tax debt. The definition of a...
The IRS audits, investigates and prosecutes all kinds of taxpayers and account holders. They cannot accomplish any of their goals without using the expertise of tax accounting professionals. Accountants work with criminal investigators who find errors that are too...
