One tool that the Internal Revenue Service uses to collect back taxes is the tax levy. A levy allows the IRS to take property to satisfy an outstanding tax debt.
This is a follow-up to a post we did in March on offshore account disclosure.
There's an old saying that "you can't get blood from a stone."
Last month we devoted a two-part post to the issue of worker classification and payroll taxes.
"Abatement" is a pretty multi-syllabic word. It generally means a reduction or lessening of something, but it can also mean a cancellation or removal.
Given the complexity of the federal tax code, it's easy to overlook some detail or other in the rush to get your taxes filed.
"Half a loaf is better than none," or at least so the old saying goes. And indeed, compromise is often better than protracted conflict.
In the Greek myth of Orpheus and Eurydice, the musician Orpheus descends into the realm of the dead, trying to save Eurydice from a lethal snakebite.
There is a big difference between intentional tax evasion and honest mistakes.
A grand jury returned an indictment on Jan. 15 against a Boston-area photographer who allegedly failed to report income of $87,907 between 2003 and 2007. Charges of tax evasion and filing false tax documents followed an investigation by the Internal Revenue Service.