First Time Penalty Abatement
The first time penalty abatement or FTA was introduced almost 15 years ago. Despite its long time in existence, it is almost never taken advantage of by most qualified taxpayers. Read more
I haven’t filed in years please help!
It is nothing to be ashamed of, millions americans fail to file taxes every year. Most of my clients have not filed taxes in over ten years or more.
But what can happen if you don’t pay taxes?
The answer is a lot can happen. The IRS can legally seize your home, business, assets, future tax returns, garnish your paychecks, levy bank account, place a lien on your home, prevent you from getting a license and possibly bar you from renewing your passport. Read more
I Always Thought I Could Deduct That
I always thought I could deduct that!
A growing number of calls are coming into my office daily for audit representation. Taxpayers want to get the best return possible, however many have received incorrect advice. Sadly many times I have to be the bearer of bad news and tell taxpayers that these expenses will not allowed. Below is a listing on common deductions that are NOT allowed. Read more
I live in Florida with a Maryland Tax Debt
As a tax resolution attorney, I have clients all over the world. Are you surprised to hear that people in Canada, Thailand, France, and Egypt have U.S. tax problems? Now this usually stems from a portion of time living in the U.S. or having U.S. investments, but nonetheless they are still tax problems. Our firm is proud that we are able to handle federal and local tax controversies for clients all over the globe.
Where does Florida come in?
A little closer to home, we have our Florida friends and frequent resolution clients. Are you surprised that a tax attorney in Maryland has a large number of clients in Florida? These tax problems occur for many reasons but most commonly are a result of dual residency. Read more
What can I deduct on my tax return?
Often clients ask me what they can deduct on their taxes. The answer is not so cut and dry. It really depends on each client’s specific situation. Below I have compiled a list of possible deductions. Remember you must maintain accurate records to substantiate your deductions. I hope this helps in preparing and planning for tax season.
Schedule A Itemized Deductions Read more
What are my chances of being audited by the IRS?
The IRS reported that their percentage of individual audits has drastically been reduced by recent budget cuts. They have fallen to record lows not seen in over a decade. Operating with over 20% fewer revenue agents the IRS struggles to keep up with their workload.
How does this impact audits? Read more
Help! Maryland won’t let me renew my license
In 2011, Maryland passed a law that if you have unpaid taxes you will prevented from renewing your license and/or registration. This applies to both business and personal vehicles and licenses. Some time has passed and we are starting to see a large occurrence of these holds. Every day our firm gets frantic calls from taxpayers who need to drive to get to and to perform their jobs.
What can you do? Read more
Penalties and Interest: Can’t be that much can they?
The IRS has over 148 different penalty types that can be assessed on a taxpayer or business. What’s even worse is interest and additional penalties can continue to grow from the original penalty. That’s just on the federal level. Maryland has a whopping 13% interest, not to mention they are not as forgiving when it comes to old tax returns. I have seen the State go after clients for taxes from the early 90’s! These penalties and interest charges continue to rack up a bill that sometimes is larger than the original infraction. As bad as they seem, IRS penalties can often times be reduced or even wiped out completely, but you have to know what you are doing. And you must have a justifiable reason to ask for them to be removed. Read more
The IRS Motto May Shock You
The IRS Mission
Provide America’s taxpayers top quality service by helping them understand and meet their tax responsibilities and enforce the law with integrity and fairness to all.
This mission statement describes our role and the public’s expectation about how we should perform that role.
- In the United States, the Congress passes tax laws and requires taxpayers to comply.
- The taxpayer’s role is to understand and meet his or her tax obligations.
- The IRS role is to help the large majority of compliant taxpayers with the tax law, while ensuring that the minority who are unwilling to comply pay their fair share.
http://www.irs.gov/uac/The-Agency,-its-Mission-and-Statutory-Authority Read more
What is CNC Status?
I heard an advertisement while driving into work today. “Call us if you can’t afford to pay the IRS…The new CNC program can help”. Many taxpayers are calling and may not even know what the CNC program stands for. I thought that an explanation would make for a good post.
CNC or Currently Not Collectible Status is a program used to temporarily resolve tax problems for low income individuals. This means the IRS must stop collection tactics and leave your case alone for a while. However, if your income changes or your file comes up for review, the IRS can come back to collect. CNC is a good program when used as a tool along with other legal measures to resolve past due taxes. I feel it is unfair to let taxpayers think CNC is a permanent fix and works for everyone. Like Offer in Compromise, only a small number of people actually qualify for CNC. Read more
