The IRS requires businesses to withhold a certain amount of funds from employee paychecks every pay period. These funds, which include social security and Medicare contributions, are to be held in “Trust” by the employer until paid in full to the IRS. When a business fails to pay these Payroll withholding taxes held in trust [...]
If you’ve recently received a notice from the IRS, you know it can be a frightening and confusing time. You’ve likely heard that the IRS can have people arrested, and even put in jail. While that’s true, it’s not as common as you may think. Which tax offenses could lead to jail time? It all [...]
Did you recently receive a Form 668 W? The IRS sends an employer Form 668 W when they plan to levy an employee’s wages, including salary, commissions, and bonuses. Here we’ll outline the next steps for both employers and employees when the IRS wage levy is issued. Next Steps for Employers Employers will receive a [...]
Has the IRS recently requested that you file financial information… using Form 433-F, 433-A, or 433-B? If you have unpaid tax debt, these forms will determine how the IRS will require that you pay it back. What are the Forms 433-F, A, and B? These 433 Forms are used by the IRS to collect financial [...]
Penalty Abatement is a tool that the taxpayer can use to challenge the IRS assessment of penalties when applicable. In many situations, it is possible to have penalties waived by the IRS. Penalty abatement cases need to contain “Reasonable Cause” elements, showing that something happened that caused the taxpayer to either not file and or [...]
What Can Be Done to Stop the IRS from Levying My Bank Accounts, Garnishing My Wages, or Seizing my Assets? David's Take It is top priority for us to make sure that we manage any type of enforcement action for our clients. We are very proactive in our communications with the service and always trying [...]
Dealing with the Internal Revenue Service (IRS) can be difficult enough under normal circumstances. It is even more intimidating when you owe several thousand dollars (or more) of unpaid taxes and penalties that you cannot afford to pay. Since most taxpayers don’t have the appropriate knowledge to negotiate a reasonable repayment plan, they end up [...]
David's Take Approximately 20% of these cases are actually being approved and accepted and people are settling their tax problems. Now, what this needs to tell you is that a lot of these companies that are promising these big reductions in these tax cases, they are not able to bring that service to fruition. They [...]
