Our client was a well-known streamer on the Twitch platform. The IRS issued a Notice of Deficiency against her for 2017 claiming she owed $16,524 in unpaid taxes, plus an accuracy penalty of $4,443, for underreported income. The IRS believed that our client had failed...
Month: November 2022
Basics of back taxes
The term "back taxes" refers to tax payments that were due to the government but went unpaid. If their tax payments are not kept current, taxpayers in Texas could be liable for back taxes at the local, state or federal level. The consequences of letting back taxes...
Digging Out of Tax Liabilities Resulting from 10 Years of Non-Filing
The IRS has administrative summons power
If a recent 9th Circuit decision stands, any doubts in Texas about whether or not the IRS can force a person's hand to disclose their financial information with foreign governments have been put to rest. This decision reaffirms the IRS's power to seek out information...
Personal Tragedy Can be a Defense Against IRS Penalties
Our client owned two successful companies that provided jobs for many and a steady income for our client and his family. He came to our office after being contacted by a local IRS Revenue Officer attempting to collect past due penalties - in excess of $627,000 - for...