Daily Archives: October 6, 2009

I have a tax bill and I never filed these tax returns. What are these?  They are substitutes for returns prepared by the IRS. Many times people forget to file their tax returns and the IRS finally picks up on the fact that there are no matching returns for a social security number.   What [...]

Relief From Penalties Generally, relief from penalties falls into four separate categories: Reasonable Cause Statutory Exceptions Administrative Waivers Correction of Service Error Appeals may recommend the abatement or non-assertion of a penalty based on these four criteria as well as “Hazards of Litigation.” This chapter discusses each of these categories and the related criteria. Also, [...]

Can delinquent tax returns penalties get abated with Internal Revenue Service and How? Many people who have not filed delinquent returns and decide to file returns all at one time face an uphill battle of getting penalties and interest abated. There is usually not a reasonable cause for a multitude of years, however there are [...]

How easy is it to get penalties and interest abated? That is a question that I am asked on a daily basis and there is an easy answer.  The answer is simply, ” if reasonable cause exists”.  The next question that comes from that, ” what is a reasonable cause”? There is no magic wand [...]

Yes they can, if reasonable cause exists.  The reasonable cause should be documented and signed under penalties of perjury.  Please review the following: Failure to timely file the information return, absent reasonable cause, can give rise to a penalty under section 6652 of the code. Whether or not an organization qualifies for the reasonable cause exception [...]

How do I get a release of Federal Tax Lien? A complete release of a Federal Tax Lien comes in various fashions.  The first and easiest way to get a Federal Tax Lien released is to pay the liability in full with a cashier’s check.  Within days, you can have a release. Many times if [...]

You better believe it! It kills your credit. The IRS tax lien is a destroyer to all those who want to ever get a loan. Caution! Once a lien is filed, your credit rating may be harmed. You may not be able to get a loan to buy a house or a car, get a [...]

This is a question we are often asked.  Tax planning on your case becomes a key issue and knowing how long the lien is good for is critical. How long is a Federal Tax Lien good for? A Federal Tax Lien continues until the liability for the amount that is assessed against you is satisfied [...]