Many taxpayers may not be fully aware of the fact that IRS appeals allow the taxpayer to directly challenge the IRS and its decision-making.
Anytime a taxpayer has an outstanding tax debt owed to the IRS, they will typically receive a notice accompanied by a tax bill referring to the outstanding tax owed.
Sometimes taxpayers require IRS penalty abatement. Abatements allow the taxpayer to eliminate part or all of their IRS tax penalties or interest.
In many cases taxpayers can be overwhelmed and confused when it comes to receiving a wide variety of different types of IRS tax notices. Understanding an individual notice that may arise is one of the best ways to avoid confusion. Even more important is to consult with an IRS tax lawyer in Atlanta when receiving any type of IRS tax notice. Receiving a notice from the IRS typically raises a host of questions.
Perhaps one of the most perplexing aspects of owing taxes is that the debt amount continues to expand uncontrollably due to monthly penalties and interest applied by the IRS. While in most circumstances, interest is not dischargeable penalties can indeed be discharged or reduced depending on the taxpayer's overall situation. There are many different types of penalties that can be charged to a taxpayer's tax debt because of past debt obligations.
It is a known fact that the IRS has the power to levy and apply liens to personal property as well as the financial resources of individuals and businesses. In most cases the Internal Revenue Service collection process consists of a series of actions that is taken by the agency as a way to collect taxes a taxpayer or business owes. This is especially true if taxes are not paid voluntarily through normal IRS payment processes. When a taxpayer has delinquent tax obligations the IRS will typically take action.
One of the best ways to settle an existing tax debt is to make use of something known as an IRS Offer in Compromise.
Consumers and business owners are experiencing today more than ever before greater tax related burden. As such, the IRS has several recommendations that should be considered in order to pay off tax debts.
While it is often the case that IRS penalties will typically apply and not be removed from a taxpayer's account, there are rare instances where this may not be the case.
Notification that an IRS audit is being conducted can cause angst and apprehension in even the most savvy of businesspersons.