Like so many businesses, the IRS shut down most of its operations during the early months of the pandemic, returning to full work only in early July. It now has Read more »
IRS Mail Backlog, and US Government
Taxes
Can You Negotiate Away An IRS Tax Lien?
A tax lien is a relatively passive way for the IRS or California’s Franchise Tax Board to get paid the back taxes you owe. Why passive? Because it can take a long time for the IRS or FTB to get paid. Suppose there’s a lot of equity in your house and owe you the IRS: when the IRS files a notice of tax lien against your house, nothing changes immediately. Read more »
Getting Rid of Tax Debt with Bankruptcy Can Take Time – Lots of It
Clients often arrive in my office, panicking, with big problems such as unpaid student loans, huge tax or business debts, and creditors filing liens. They want their problems to go away immediately – rightly so because the stress is terrible. But, for many clients, the only effective strategy is one that will take time. Often lots of it. Read more »
IRS Account Transcript: What the IRS Knows About You
Everything the IRS knows about you exists on a piece of paper called the Account Transcript. I get a client’s transcript when I begin representing them because I need to know what the IRS knows about Read more >>
Things to Dislike About California’s EDD: No One Agent Is In Charge
California’s Employment Development Department (EDD) collects and administers California’s State payroll taxes (consisting of the state income, disability, employment training Read more >>
Taxes on Inheritances
Bad news: your uncle dies. Good news: he left you money and a house. You’re also a beneficiary on a life insurance policy he had. Bad news: he named you Read more »
Harsh IRS Treatment if You Owe More Than $100,000
The IRS treats taxpayers who owe more than $100,000 very differently than it does those who owe less than $100,000. If you owe more, the IRS expects immediate payment. It Read more »
Beware of Slick Promises to Get IRS Penalties Waived
A client ran a landscape maintenance company in LA for 30 years. His crew showed up at clients’ houses to mow, blow, and go. My client called his crew “contractors,” Read more »
Military Contractors Working Abroad Taxed Unfairly
Americans who work overseas are entitled to exclude $80,000 of annual income from their tax return. It’s called the “foreign earned income exclusion.” It’s found at Section 911 of the Read more »
Could I Go to Jail For Lying On My Taxes?
My client’s shaking, horrified. She lied on her tax return and worries the IRS will find out when they open the audit. She thinks she’ll end up in handcuffs if she Read more »