And Offer in Compromise (OIC) is an option for paying less than the amount the IRS says you owe. The IRS accepts an OIC when they agree that the assessed tax bill is not […]
From the 'Taxation' Category:
It’s scary if you owe taxes and can’t pay them. Rest assured though, you have no reason to be afraid or panic. But you shouldn’t delay in doing something about it. One of […]
It can be a daunting experience if you have not paid your income taxes and the IRS is trying to collect taxes it claims are owed by you. The IRS has a number of […]
On July 3, 2014 Israel’s Finance Ministry announced that it had signed an agreement with the United States aimed at improving international tax law and implementing the U.S. Foreign Accounts Tax Compliance Act (FATCA). […]
You have a cause for which you’re deeply concerned. Or your child’s local sports team needs a tax exempt entity to better operate under a common organizational structure. Internal Revenue Code 501(c)(3) tax-exempt status […]
While it may seem unpatriotic to some, you are only required to pay the minimum amount of tax you owe under the tax laws. Judge Learned Hand wrote in an oft-quoted tax case, “Anyone may […]
With the majority of personal tax returns now filed, how did the IRS do compared to the prior tax year? Well, here are a few statistics just published by the IRS (processing dates are […]
The US is unique in its view that citizens should pay tax on money they earn anywhere in the world, even if they don’t live in the US. Most countries either tax their citizens […]
Valuing a piece of property where there is not a readily available market price available can be difficult. And issue may arises when you make a gift of this property to a loved one […]
Recently the IRS issued an updated advisory on the importance of maintaining and safeguarding tax records. The release was timed to coincide with the start of hurricane season. While not everyone lives in a […]