Most people are aware that filing a tax return after the due date will result in a tax penalty. However, some unfortunate taxpayers are surprised to learn that their late-filed tax return incurred a substantial penalty because the IRS suspected that the late filing was due to … [Read more...]
I owe the IRS and they seized my property. What happens now?
What happens to property seized by the IRS? Unfortunately, the IRS can sell property seized as a levy of property since it has the authority under IRC Section 6335 to sell seized personal and real property. However, the IRS must follow certain procedures before, during, and after … [Read more...]
How To Negate Fraudulent Intent and Avoid the IRS Civil Fraud Tax Penalty
A taxpayer will not be assessed a tax penalty if they had reasonable cause for the understatement on a tax return and acted in good faith. (IRC Section 6664(c)(1). Likewise, the civil fraud penalty requires clear and convincing evidence that the taxpayer intended to evade tax. If … [Read more...]
IRS Tax Lien on Community Property
In marriage, two people are united. They may share the same name, residence, children, and - in many cases - income. The ideology of being united as a marital community is, in a way, also true when it comes to the couple's property. In California, all property (with few … [Read more...]
About Innocent Spouse Equitable Relief
Filing for Equitable Relief Under IRC §6015(f) Former or separated spouses who have not been widowed, divorced, legally separated, or living apart for at least twelve months from the spouse they filed a joint return with are ineligible to file a separate liability election. … [Read more...]
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