Boston Tax Law Blog
Offer in compromise may help struggling taxpayers
Not being able to pay a bill can easily trigger a panic response in any Massachusetts resident. For some individuals, the bill that they cannot pay is their tax obligation, and unfortunately, this could lead to serious issues with the Internal Revenue Service. If a...
How can taxpayers stop wage garnishment?
Tax debt can have consequences that affect a person's livelihood. In fact, the Internal Revenue Service could even begin taking money directly from the paychecks of a taxpayer who owes a balance and has not paid. This can be distressing for any Massachusetts...
What if I forgot to report a foreign bank account on my taxes?
For several decades, our world has operated in a global economy. In 2020, many Americans have bank accounts overseas. For those who have an overseas with more a balance of at least $10,000 at any time during the year, Americans must include those accounts in their...
Unhappy with your tax audit results? Appeal
Very rarely do tax audits result in taxpayers receiving refunds or having no change to their tax filings. Usually, Massachusetts residents who go through the audit process get word that they owe more in taxes and have to pay interest and penalties on top of it....
Cooperation can go a long way in tax evasion cases
Anyone in Massachusetts or elsewhere who follows tax-related news has probably heard about the Robert Smith Case. Mr. Smith is a former student of Cornell, a billionaire and a philanthropist. He is also a person who, over the past few years, has been investigated for...
Is there a statute of limitations on tax audits?
One of the biggest fears Massachusetts residents have when they submit their tax returns is that they'll end up being audited. No one wants to go through that, but, without fail, every year, a small percentage of people get the news that they have been selected for...
Handling a tax preparer’s mistake in a return
Any time, you get a letter from the IRS, your heart skips a beat. You guess that the tax agency rarely contacts individuals with good news. Now, you’ve just received a letter noting you owe thousands more in taxes from last year. Yet you had a tax preparer...
How does the IRS investigate alleged tax crimes?
Accusations from federal agencies can result in serious criminal cases and possible consequences. In some instances, the Internal Revenue Service may suspect a Massachusetts resident of committing tax crimes and start an investigation into that person's actions....
No. 6 on the Taxpayer Bill of Rights: The right to finality
It may seem as though the IRS holds all the cards, but that simply is not true. Taxpayers here in Massachusetts and across the country may not be aware that there is a Taxpayer Bill of Rights. Number six on that list is the "right to finality," which means that they...
Can a business have a federal tax lien removed?
Running a Massachusetts business means that a person has to pay attention to every cog turning to ensure operations run smoothly. Of course, without the right help, some entrepreneurs may miss something vital, including paying certain taxes. If this happens to a...
