Tuesday Tax Tip

Collection Action – How to Appeal an IRS Decision

Collection Action – How to Appeal an IRS Decision   Collection Due Process (Part I)   The purpose of a Collection Due Process hearing is to have Appeals review collection actions that were taken or have been proposed.   After Appeals has made their determination and you do not agree, you can go to court […]
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Collection Action – How to Appeal an IRS Decision

Collection Action – How to Appeal an IRS Decision   You have the right to appeal most collection actions to the IRS Office of Appeals (Appeals). Appeals is separate from and independent of the IRS Collection office that initiates collection actions. Appeals ensures and protects its independence by adhering to a strict policy prohibiting certain […]
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What happens when I have not file prior year returns?

What happens when I have not file prior year returns?   Past Due Tax Returns   First alert:  File all tax returns that are due, regardless of whether or not you can pay in full. File a past due return at the same location where you would file an on-time return.   If you do […]
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Collection of Employment Taxes – Info for Employers (Part IV)

Collection of Employment Taxes – Info for Employers (Part IV):   Trust Fund Recovery Penalty   The Trust Fund Recovery Penalty is a penalty that is assessed personally against the individual or individuals who were responsible for paying the trust fund taxes, but who willfully did not do so. The amount of the penalty is […]
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Collection of Employment Taxes – Info for Employers (Part III)

Collection of Employment Taxes – Info for Employers (Part III):   What are trust fund taxes?   Trust fund taxes are the income tax, Social Security tax, and Medicare tax (trust fund taxes) withheld from the employee’s wages. They are called trust fund taxes because the employer holds these funds “in trust” for the government […]
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Collection of Employment Taxes – Info for Employers (Part II)

  Collection of Employment Taxes – Info for Employers (Part II):   What the IRS will do if you do not pay your employment taxes:   The IRS will assess a failure to deposit penalty, up to 15% of the amount not deposited in a timely manner. The IRS may file a Notice of Federal […]
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