Your Passport and IRS

Normally you wouldn’t think the IRS would have anything to do with your passport, since your passport is issued by the State Department. So what is the connection between IRS and your passport?     On December 4, 2015, former President Obama signed legislation into law giving IRS more leverage in the collection of seriously delinquent [...]

Update! Virginia Tax Amnesty

If you owe Virginia back taxes, watch your mail for a letter about the Tax Amnesty Program 2017. Earlier this year the Virginia General Assembly enacted provisions approving a tax amnesty program. The Virginia Department of Taxation just started sending letters to persons eligible to participate in this limited time program. The Program runs from September [...]

What is the “Trust Fund” portion of payroll taxes?

The Trust Fund portion of payroll taxes is the money that the employer withholds from the employee's paycheck for federal income tax withholding and the employee's share of FICA and Medicare (also referred to as the social security tax) tax payment. The Trust Fund portion does not include the employer's matching portion of the FICA [...]

What is an Offer in Compromise?

The Offer In Compromise (OIC) program is an option for those taxpayers who are unable to pay their tax account in a lump sum or through an installment agreement and have exhausted their search for other payment arrangements. The IRS may accept an OIC to settle unpaid tax accounts for less than the full amount [...]

Lien-Levy Guidance: Lessening The Stress of a Notice

If  you have received a lien or levy notice, you are in the right place to ease the stress that such a notice can bring. LEVY NOTICES You need help with a levy notice if you received a document that says, "FINAL NOTICE OF INTENT TO LEVY AND NOTICE OF YOUR RIGHT TO A HEARING." [...]

Filing Your Unfiled Tax Returns

You haven't filed tax returns for one or more tax periods, correct?  Fortunately, with some additional information from you, I can help guide you from here. Your Concerns But, before I get to my questions, here are some you might have: Will I go to jail for not filing returns? Will I go to jail [...]

May 2013 Newsletter

Eight Facts on Late Filing and Late Payment Penalties for Form 1040 federal tax returns Download Our May 2013 Newsletter PDF

Go to Top