The ability of the Internal Revenue Service to collect federal taxes and impose future penalties and interest may be hampered by a recent decision affecting IRS workers. The tax agency is trimming its workforce in anticipation of federal cuts that could reduce its operating budget by more than 3 … [Read more...] about IRS prepares for budget cuts with employee cuts
IRS offers a host of payment options
It would be of benefit to Dallas residents if they all knew that the Internal Revenue Service gives taxpayers a host of ways to pay delinquent federal taxes. IRS Collection Representatives are capable of discussing a range of payment plans, from a free online service to installment agreements that … [Read more...] about IRS offers a host of payment options
Paying your way out of IRS interest in a tax dispute
The clock is ticking on interest when taxpayers dispute how much they owe to the Internal Revenue Service. An outcome that is favorable to the taxpayer erases penalties and interest, but if the taxpayer is wrong and the IRS reclaims just a small amount, the result can be a highly inflated tax … [Read more...] about Paying your way out of IRS interest in a tax dispute
IRS tax lien forces couple from paid-off home
A 63-year-old man and his long-time partner recently moved out of the house they owned and occupied since 1994. The couple's story includes a pair of debt-clearing bankruptcies, an unshakable tax lien and the long-reaching power of the IRS. Tax problems haunted the man since the early 1980s when … [Read more...] about IRS tax lien forces couple from paid-off home
IRS cracks down on tax fraud
Fines and penalties associated with federal tax fraud are severe, and the IRS devotes significant resources to tracking down those they suspect of attempting to get out of taxes. More than 4,700 tax fraud investigations were conducted last year by the IRS, a 14 percent increase from the previous … [Read more...] about IRS cracks down on tax fraud
IRS tax scammers targeting Dallas residents
Elderly and low-income tax payers in Dallas may be among the targets of scams promising tax relief. The Internal Revenue Service is warning that companies promising rebates and tax refunds for a fee are conning seniors and financially strapped families out of cash. So-called "no documents" tax … [Read more...] about IRS tax scammers targeting Dallas residents