When a married couple files a joint tax return, they are jointly and severally liable for any tax debt. The result is that the IRS can come after either spouse for the total amount of tax owed, even if one spouse was primarily responsible for earning the income and preparing…
Tax Court Rejects Proposed Offer in Compromise to Settle Possible Federal Tax Lien Suddenly receiving a surprise tax bill in the mail is not something anyone looks forward to. However, taxpayers who face financial difficulties paying their back taxes may be able to settle the total amount due for less…
Federal tax law gives the IRS multiple tools for collecting unpaid taxes. Several of these do not require the IRS to file anything with a court before acting. A federal tax lien makes the tax debt a matter of public record and can have a substantial effect on a taxpayer’s…
Federal tax law requires employers to withhold certain taxes from their employees’ wages, and to remit those amounts to the IRS. These are known as “trust fund” taxes, since the employer holds them in trust for the employee. In the event an employer fails to withhold these taxes, or fails…
There is good news for those taxpayers with Philadelphia Tax Problems. Currently, the City of Philadelphia maintains an option for tax debtors known as the Voluntary Disclosure Program. Taxpayers with Philadelphia tax debt can apply for Voluntary Disclosure once they are ready to make full payment for the taxes owed.…
If you maintain or have maintained an offshore bank account without disclosure on your federal tax return and have also failed to properly file the Report of Foreign Bank and Financial Accounts, also known as the FBAR, you may face significant civil and criminal sanctions. The failure to file an…
The gold rush is on! The rush for sales tax gold, that is. For those involved in the mining of natural gas, a significant opportunity exists for a sales tax refund under the Pennsylvania Sales Tax Mining Exemption. The Mining Exemption provides an exemption to Pennsylvania’s sales tax for certain…
So, you’ve just received a letter from the IRS informing you that you are being audited. Stay calm, and don’t panic! IRS audits aren’t as bad as you might think. That is, if your’re properly prepared and ready for the challenge that awaits you. An important consideration will be the…
Many Taxpayers have the mistaken belief that taxes cannot be discharged through bankruptcy. Fortunately, this is not true! In fact, bankruptcy can be one of the easiest and most effective methods of eliminating overwhelming tax debt. For the individual Taxpayer, Chapter 7 & 13 of the Bankruptcy Code provide the…