The general rule is to keep tax records for at least three years. But there are many situations where you may want to keep records…
What to Do If the IRS Asks You to Waive the Statute of Limitations
The IRS can ask a taxpayer to extend or waive the statute of limitations for tax assessment or collections. You should consult a tax attorney…
Criminal Penalties for FBAR Violations
Criminal FBAR penalties are among the most serious penalties that can be imposed for tax crimes. These penalties are not nearly as common as civil…
IRS Retirement Account Levies
The IRS is permitted to seize the funds in your retirement account, including a 401(k) plan, IRA, and many other types of accounts. Retirement account…
Is Certain Property Protected from an IRS Levy?
The IRS has the power to seize many types of property, but certain items are exempt from levy. No matter how much you owe or…