Tax Workout Group

Category: Tax Controversy

  • Resolving Tax Debt Through Negotiation: Offers in Compromise Explained

    Resolving Tax Debt Through Negotiation: Offers in Compromise Explained

    When Tax Debt Becomes Overwhelming Owing money to the IRS can quickly become one of the most stressful financial situations an individual or business may face. What begins as a missed payment, unexpected tax bill, or filing mistake can grow rapidly as penalties and interest accumulate. Many taxpayers initially try to handle the situation themselves…

  • The Tax Survival Arsenal — for When the IRS Comes Knocking, and Before

    The Tax Survival Arsenal — for When the IRS Comes Knocking, and Before

    I doubt if many people associate good dreams with the IRS. Nightmares, maybe, but in any event not the kind of thoughts to take into Z-Land. And not the kind of thoughts to wake up to either. Come to think of it, I don’t believe there is any good time for thoughts like that. I…

  • When the IRS Gets Six Years Instead of Three – The Tax Time Bomb You’ve Never Heard Of: §6501(e)(1)(A)(i)

    When the IRS Gets Six Years Instead of Three – The Tax Time Bomb You’ve Never Heard Of: §6501(e)(1)(A)(i)

    §6501(e)(1)(a)(i)—I first heard of this section of the Internal Revenue Code in one of my initial classes at NYU in the program for an LL.M. in Tax (Masters in Tax Law). The professor who said it had no notes in front of him, no monitor, no nothing. I thought he was making some kind of…

  • How to Protect Your Home From the IRS

    How to Protect Your Home From the IRS

    Taxes are unavoidable, but what happens when unpaid tax debts put your house at risk? Many people wonder, can the IRS make you homeless? While the IRS typically prioritizes the seizure of assets other than a person’s house or primary vehicle, it does have the authority to take a home if no other resources are…

  • How to Remove the Tax Levy on your Paycheck

    How to Remove the Tax Levy on your Paycheck

    For the past few months, you’ve received various notices from the IRS regarding your unpaid tax balance, and all of a sudden, you walk into work in the morning, and the HR Department gives you a copy of Form 668-W that it just received in the mail. Or maybe your bank sent you a Form…

  • When Are Extended Taxes Due? Key Deadlines for 2024

    When Are Extended Taxes Due? Key Deadlines for 2024

    As we move into the final quarter of the year, taxpayers who filed for extensions earlier in 2024—and those who didn’t—need to be aware of critical upcoming deadlines. If you didn’t file your taxes by the April deadline or forgot to request an extension, don’t worry—you still have options. This guide covers the key extended…

  • What is Tax Controversy?

    What is Tax Controversy?

    Dealing with taxes can be stressful, especially when you get a notice from the IRS or a state taxing agency advising you that there’s a problem with your tax return. This situation often gives rise to a “tax controversy.” It occurs when there’s a dispute between the taxpayer and the tax authorities about the proper…

  • Can Tax Advice on TikTok constitute “Reasonable Cause”?

    Can Tax Advice on TikTok constitute “Reasonable Cause”?

    As social media continues to grow with new platforms such as TikTok emerging onto the scene, many purported tax advisors are finding a market with large demand for free tax advice. Given the ease of distributing information through this platform and the need for tax advice from laypersons who may not have the financial means…

  • Reliance of tax advice as a defense to the substantial underpayment penalty.

    Reliance of tax advice as a defense to the substantial underpayment penalty.

    Taxpayers are eligible for relief when they rely on actual advice from a tax advisor, i.e. professional judgment or analysis of a tax advisor, as opposed to “tax preparation” or clerical tasks associated with a tax advisor’s duties. However, if the tax advisor simply transcribed figures provided by you in preparing a tax return and…