Category Archives: Federal Tax

Want to stop an IRS Levy?

If you can’t afford to pay your IRS tax bill, the IRS has a multitude of programs to help you out. One of the most interesting of the IRS programs is something called currently not collectible status.  If the IRS … Continue reading

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Is a Real Estate Agent a Real Estate Professional in the eyes of the IRS?

If you have rental properties you may not get the full use of your tax losses unless you meet the tax code definition of a real estate professional. Its kind of common sense for a real estate agent to think … Continue reading

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Can the IRS take away your Social Security check?

Is social security exempt from an IRS levy or garnishment?  The short answer is no, the IRS is allowed to take away your social security if you fall behind on your payments to the IRS. The rules are laid out … Continue reading

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Fighting a 6672 penalty for employment taxes?

If you were the officer of a company that went belly up there is a good chance the IRS is going to come after you for the missed employment taxes.  Typically the IRS will hit you with something called the … Continue reading

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Taxpayer’s Rights

When it comes to dealing with the IRS, you are in the driver’s seat. Due the to various bouts of Congressional grand standing and political theater, the tax code is riddled with provisions that help out individuals. Hit with an … Continue reading

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Do you have to pay taxes on your court settlement?

Congratulations, you’ve just settled with a former employer and received a payment of $400,000.  Do you have to pay income taxes on the settlement. More than likely, yes, you will have to pay taxes on the settlement. The only type … Continue reading

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A 2nd chance with your IRS Audit, aka an audit reconsideration

What would you do if the IRS told you you owed them a few million dollars, and they were wrong?  Wouldn’t you spring a couple thousand dollars for some legal help? It appears the taxpayer, Mr. Seifert, in a recent … Continue reading

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The FTB knows all

A couple new laws were just implemented that really point out the extent to which the franchise tax board shares information with other agencies, cities, and yes, even Mexico. Take a look at the amendments to section 19551 of the … Continue reading

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Can the IRS take away your house?

A big fear of people when they receive a notice of intent to levy from the IRS is that they are going to lose their home.  The big question is, “Can the IRS take away our home?” The simple answer … Continue reading

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Levied by the IRS, how does the shutdown affect you?

Have you had your wages or bank account garnished by the IRS?  Is the IRS taking away your social security? That’s exactly what happened to one couple, the IRS started to levy or garnish the couples social security benefits (Yes, … Continue reading

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