Archive for Blog

All tax returns must be filed to submit an Offer in Compromise

  • April 25th, 2017
  • David Greene
  • Comments Off on All tax returns must be filed to submit an Offer in Compromise

In order to be considered for an Offer in Compromise, the taxpayer must be current with all income tax return filings. If the taxpayer is a company, this requirement includes payroll tax and federal unemployment tax filings as well as…

Can a taxpayer file more than one Offer in Compromise?

  • April 18th, 2017
  • David Greene
  • Comments Off on Can a taxpayer file more than one Offer in Compromise?

Yes a taxpayer can certainly file a second Offer, especially when there is a change in his financial circumstances.   However, we should look at another possibility first.  When an Offer is rejected, the taxpayer has 30 days from the date of the official rejection…

What if you can’t pay what you owe on your tax return?

  • April 11th, 2017
  • David Greene
  • Comments Off on What if you can’t pay what you owe on your tax return?

First let me remind everyone that Tax Day is getting very close.  The deadline to file is April 18 this year due to a Washington, DC holiday.  Also, let me make it clear that you always need to file your…

What steps can you take to avoid an audit?

  • April 4th, 2017
  • David Greene
  • Comments Off on What steps can you take to avoid an audit?

There is nothing you can do to guarantee that you will never be audited.  However, by following three simple rules, you can minimize your chances of being audited and, if you are audited, minimize your chances of having to pay…

How is a tax levy different from a lien?

  • March 28th, 2017
  • David Greene
  • Comments Off on How is a tax levy different from a lien?

This week I want to discuss how a levy differs from a lien.  While a lien is simply recorded at the courthouse and is therefore a “passive” collection action (nothing happens until the taxpayer sells property), a levy is an…

Can a tax lien be used to seize your home?

  • March 21st, 2017
  • David Greene
  • Comments Off on Can a tax lien be used to seize your home?

No, the IRS will not seize your home as a result of this Lien.  They would have to start a legal proceeding to reduce the lien to a judgment.  However, this lien does affect your property.  You can think of…

The IRS has a new Private Debt Collector program.

  • March 14th, 2017
  • David Greene
  • Comments Off on The IRS has a new Private Debt Collector program.

Any time you owe back taxes you should be worried and it is always better to be proactive. You should be even more worried now because the IRS is implementing a new Private Debt Collection program.  The first one lasted…

What are the most common mistakes made on a tax return?

  • March 7th, 2017
  • David Greene
  • Comments Off on What are the most common mistakes made on a tax return?

Here are the most common mistakes the IRS sees from self-prepared returns: (1) Math errors – be sure to check your math twice; (2) Misspelled name or changed name not updated (be sure the name on the return matches the…

Examples of stupid deductions that the IRS disallows

  • March 1st, 2017
  • David Greene
  • Comments Off on Examples of stupid deductions that the IRS disallows

Unfortunately the IRS is not lenient when you try to deduct expenses for which there is no valid reason.  Here are a few examples of deductions that have been tried and “shot down” by the IRS. (1) A real estate…

How to tell if your worker is an employee or independent contractor

  • February 22nd, 2017
  • David Greene
  • Comments Off on How to tell if your worker is an employee or independent contractor

Many small businesses are audited by the IRS each year to determine if their workers are truly independent contractors or really employees.  If they are found to be statutory employees, large fines and delinquent payroll taxes can result.  If your…

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