Identity theft related to tax scams remain a serious issue. While the Internal Revenue Service notes that fraudulent emails and phone calls from imposters who claim to be representatives of the IRS rank highest on the list […]
The estimated tax penalty is technically called an underpayment penalty. More than ten million taxpayers paid underpayment tax penalties in the 2016 tax year, compared to the 8.9 million who paid them in 2014. That increase may have […]
The Internal Revenue Service launched a pilot virtual appeals program on August 1, 2017. This program will potentially allow IRS Appeals Office staff, taxpayers, and their representatives to hold a “face to face” meeting—by way of a secure, web-based video conference.
Benefits of the New IRS Virtual Appeals Program
According to the IRS’ statement […]
If you owe the Internal Revenue Service tax money, you may know that some of the penalties for non-payment can become pricey: The IRS can impose additional late or underpayment penalties, and apply interest rate charges on amounts owed until the taxpayer resolves the debt. If the IRS fails to collect on the tax […]