Can a tax lien be used to seize your home?
- David Greene
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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.
- David Greene
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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?
- David Greene
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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
- David Greene
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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
- David Greene
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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…
What tax deductions may be disappearing soon?
- David Greene
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With the new Trump administration, we may lose some tax deductions that we’ve used in years past. Therefore you should be sure to take advantage of them this tax year in case they are not available next year. Some of…
How can you protest taxes you believe you do not owe?
- David Greene
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Many times you can protest the assessment of taxes by the IRS The timing of the protest is important. We have discussed appeals in the past and you certainly might be able to appeal the notice of additional tax. I…
How late can a taxpayer file a return and still get his refund?
- David Greene
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Last week we talked about a lost refund. This question presents a different problem. The answer to the question depends on when the return was filed. If, for instance, a 2012 return was filed before April 15, 2016 it just…
How to Recover a lost Refund
- David Greene
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Every year I get several questions about recovering a lost refund. The IRS recently reported that they have about $175 million in undelivered tax refunds. These are for more than 100,000 taxpayers. You may be one of them. The failure…
What documents must be filed with an Offer based on Doubt as to Liability?
- David Greene
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Before I answer, I want to tell all my readers that the 2017 tax season will officially start on January 23 and the deadline for filing this year in April 18. The Offer in Compromise program is a voluntary program…