Did you know that there is a Taxpayer Bill of Rights that is designed to protect you from being taken advantage of by the Internal Revenue Service? After receiving a detailed proposal from National Taxpayer Advocate Nina Olson, the IRS adopted an official Taxpayer Bill of Rights. It was a long time in coming. Moreover, [...]
May 21, 2020 California State Senators Scott Wiener and Lena Gonzalez have proposed a law that would allow some tenants in California to terminate their leases. In order to qualify, a tenant’s landlord must have refused to lower the amount of rent to be paid. This proposed law is known as Senate Bill 939 (SB939). [...]
by Matthew Cohen Many of you applied for or plan on applying for Paycheck Protection Loan under the CARES Act. Assuming you have received or will receive funds stemming from this loan, you can breathe easy…for about 30 seconds. This is because now you have to figure out what to do to not have to [...]
IRS Indicates that Scam Phone Calls are on the Rise In the past couple of years, people posing as the IRS, have been calling taxpayers claiming that they owe unpaid tax and demand that payment be made immediately. If you have not yet had the "luxury" of receiving one of these calls, consider yourself lucky. [...]
If you submitted an appeal of an Offer In Compromise and it gets rejected, where do you go from there? Assuming your client’s offer in compromise was rejected by the IRS Offer Specialist assigned to their case, you have a few options. You can appeal to the Specialist’s direct supervisor, the Group Manager. If you are [...]
Does submitting a request for an installment agreement legally ‘fix’ the taxpayer’s liability owed or can the liability later be argued? The tax liability can be “argued” or more appropriately collected upon as long as the statute of limitations on collection (10 years for the IRS) is still open. If the amount of the installment [...]
It may not be common knowledge but income taxes can be discharged in bankruptcy if certain rules are met. To begin with, in order to be dischargeable taxes must meet the three-year rule. That is, they may not be discharged prior to three years after the due date of a return including extensions. In order [...]
