Can VA disability payments be levied by the IRS?
- David Greene
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There is a federal statute that generally protects VA disability income from attachment, levy or seizure. However, in a recent federal case from Colorado, the judge ruled that this statute does not apply to levies issued by the IRS so…
Should one retain a professional to represent her in an audit?
- David Greene
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The answer is definitely “Yes.” The primary thing that needs to be addressed in an audit is to supply the revenue officer with a complete set of documents and information that he requests, but not extraneous information. The professional representative…
Can a Family Court Order stop the IRS from collecting delinquent taxes?
- David Greene
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Unfortunately, the answer to your question is no. Since the IRS is a federal agency, it is not bound by a state Family Court order. I assume you and he filed joint returns for the years in question. Therefore, you are…
Does a Personal Injury settlement have to be counted as an asset in an Offer in Compromise?
- David Greene
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Let’s look at the situation where, except for the settlement, you would be eligible for an Offer In Compromise based on doubt as to collectibility. In any Offer in Compromise, the IRS will require that you count the settlement as an…
What should you do when you receive a certified letter from the IRS?
- David Greene
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Many people are afraid to pick up a certified letter from the Post Office and are afraid to open it. However, you cannot help yourself by failing to act. Here is some advice on what to do when you receive…
Can one make one Offer In Compromise to cover both individual and payroll taxes? Part 2.
- David Greene
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Last time I answered this question for the situation where the company is unincorporated. This week we look at a small corporation where one or two people own all the stock. This analysis will usually also apply to an LLC…
Can one make one Offer In Compromise to cover both personal taxes and payroll taxes?
- David Greene
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Thank you for your question. I need more information to answer the question fully, but I will answer it for different scenarios in this week’s and a later column. The first situation is if your company is a sole proprietorship…
Does the new tax code affect my withholding because I have dependents?
- David Greene
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Because the law expanded and made significant changes to the Child Tax Credit, it also suspended the deduction for personal exemptions. The IRS has recommended that parents and caregivers should do a “paycheck checkup” to determine how these changes could…
What is the “Agreement” part of an Installment Agreement?
- David Greene
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An Installment Agreement with the IRS is when the taxpayer agrees to pay a set sum of money for a set duration of time until either the liability owed is paid in full, or the collection period for the liability…
Can a wage levy be stopped by agreeing to a voluntary payment plan?
- David Greene
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The answer depends on who is levying the wages. The South Carolina Department of Revenue will not release a levy after it has attached until the levy is paid in full. They take 25% of the employee’s gross (before taxes)…