When faced with owing taxes you can't afford to pay upfront, the Internal Revenue Service (IRS) offers a lifeline, payment plans. These plans allow you to spread your tax debt over a manageable period, easing the financial burden and preventing penalties from escalating. This blog post covers IRS payment plans in great detail, helping you to understand your options and make wise choices.
The term "tax relief" describes the process of requesting a decrease in the amount of money owed to the Internal Revenue Service (IRS). This situation could result from failing to file a tax return at all, in which case the IRS would file a return on your behalf (referred to as a Substitute for Return, or SFR), or from filing a tax return but failing to pay the entire amount owed.
Managing your spouse's finances may complicate your tax filing process. Knowing whether you are an injured or innocent spouse is critical if you owe money in unpaid taxes.
Here's how to tell the difference with an innocent spouse vs an injured spouse and what relief you might get.
The parts manager for a multi-state business, John Cox, was sentenced to 36 months in prison for wire fraud, filing a false tax return and failing to file a tax return. From 2018 to 2020 Cox ordered parts and products that the business did not need, using his employer’s funds, in order to sell them […]
Jonathan Wichman was sentenced to 24 months in prison for evading income taxes for seven years, despite making more than 2.3 million dollars in wages during that time. Beginning in 2014 Whitman stopped filing tax returns, despite receiving multiple notices from the IRS. In 2019, he filed returns for 2014 through 2018, but did not […]
Maria Mendoza, a Las Vegas tax preparer, was sentenced to three years in prison for filing more than 700 fraudulent tax returns and causing the IRS a loss of 1.2 million dollars. Mendoza used false and inflated deductions and credits on her clients’ tax returns, in addition to using her clients’ personal identifying information to […]
A Kentucky lawyer, Andrew Clooney, and his wife, Christel Clooney, pleaded guilty to wire fraud and failure to pay taxes. Clooney was a personal injury attorney through the Clooney Law Office, and his wife was the office manager. From 2016 to 2018 the Clooneys used funds that belonged to their clients for personal use. Clooney […]
Are you looking for reliable and professional tax services in Shreveport, Louisiana? Look no further than David J Griggs, CPA. We're thrilled to announce the opening of our new office in Shreveport, and we're ready to help you with all of your tax needs. Services We Provide As a CPA firm, we offer a wide […]
Filing taxes can be a daunting task, but what happens if you miss a year or several years of filing? It can be overwhelming to think about how to back file taxes, but the consequences of not doing so can be severe. Fortunately, there are steps you can take to catch up on missed tax […]
Are you struggling to pay off your tax debt? If so, you're not alone. Many Americans find themselves in a similar situation, but fortunately, there are IRS settlement programs available that can help you resolve your tax debt and avoid penalties. In this article, we'll take a closer look at these programs and what you […]
