IRS Streamlined Installment Agreement

The IRS has a variety of payment plans, which it calls “Installment Agreements”.   For example, if someone owes less than $10,000, they can enter into a “guaranteed” installment agreement, which means that yes, the IRS will guarantee the taxpayer to repay the debt over a period of time. Another form of payment plan is called a “Streamlined Installment Agreement”, which … Read More

How to Stop an IRS Wage Garnishment

No one wants to deal IRS wage levy; all of your pay is taken and you could be living without a paycheck. All of the money you need to live your life on a day-to-day basis is taken out of your bank accounts. Another big problem is that your employer will be upset that you’ve got an IRS problem.   Yes, … Read More

Owe IRS Employment Taxes? What to Expect from the IRS

If you have read Payroll Taxes – What They Are and Who Pays Them and The Trust Fund Recovery Penalty and What It Means If Your Business Is Delinquent On Payroll Taxes on this website, then you realize that the IRS classifies delinquent payroll tax payments by employers as “employment tax evasion schemes.” Employment tax evasion schemes are a high … Read More

IRS Agent Visit? What to Expect

QUESTION:   Does the IRS really send its employees to visit people at their homes or businesses? ANSWER:  Yes. Whenever the IRS believes that a person or business has not paid all the taxes it owes, the IRS may send out a field agent called a “Revenue Officer” to talk to the taxpayer in person. ROs typically work “high dollar” cases. … Read More

IRS Payroll Taxes: A Primer

Payroll taxes are taxes paid on the wages and salaries of employees. They include federal, state and local income taxes, Social Security and Medicare taxes, and unemployment taxes.  Improper processing of payroll taxes is one of the most common triggers for an IRS audit of a small business and its owners. Payroll taxes include taxes paid by employees and by … Read More

IRS Trust Fund Recovery Penalty

As a small business owner, the most important thing you should understand about payroll taxes (also known as “employment taxes”) is that the IRS pays a great deal of attention to them… and that when the IRS investigates the way your business handles payroll taxes, it is actually investigating you as well. When Congress created the Trust Fund Recovery Penalty … Read More

Why the IRS Hates Delinquent Payroll Tax Problems

If you have read our article, Payroll Taxes – What Are They and Who Pays Them? on this website, you know that payroll taxes are “employee withholding taxes.” You also know that payroll taxes consist of employees’ income tax as well as their portion of Social Security and Medicare taxes. Many people fear what might happen if the IRS discovers … Read More

Unfiled IRS Returns

You need to get all of your returns filed. The IRS won’t work with you until all of your returns are in. Some people may have misplaced records, due to moving or even floods and fires. Many people don’t realize this, but the IRS has all of your records. You can request a transcript to get all of your records. … Read More

IRS Trust Fund Recovery Debacle

IRS Trust Fund recovery penalties pertain to the payroll taxes withheld by an employer, and which are supposed to be paid over to the IRS regularly. These taxes are onerous, because they are not discharged in a bankruptcy filing, for example. Moreover, the IRS takes aggressive enforcement action against those who have fallen behind on payroll taxes. A case in … Read More

How to Approach the IRS about Your Tax Debts

Here first is a cautionary tale on how not to fight the IRS on the matter of tax debts.  That would be the story of tax protestors, Ed and Elaine Brown from New Hampshire.   They are now residing in rent-free housing provided for by the U.S. Government.  It’s just not the kind of housing that you’d ever want.  Their … Read More