June 23, 2009

Offer In Compromise Co-Pay Repeal

To submit an Offer In Compromise (OIC) with the Internal Revenue Service in order to pay pennies on the dollar, a nonrefundable 20% downpayment is required. Combined with a very low acceptance rate by the Internal Revenue Service of OICs, the downpayment has the effect of discouraging people from applying for an Offer.

A Congressional bill was recently introduced the title to which tells it all: “Repeal of the Partial Payment Requirement on Submissions of Offers in Compromise”. If this is enacted into law, the struggle with your tax debts may be a bit easier.

If you have a tax problem and need a tax lawyer, call Mitchell A. Port at (310) 559-5259.

June 10, 2009

Unfiled Tax Return: IRS Can Collect Anywhere - Even Los Angeles

The Internal Revenue Service has filed a $819,848 federal tax lien against Sen. John Kerry's 2004 presidential campaign. The campaign says the tax return was filed and lost by the IRS while the IRS says no tax return was ever filed. Sen. Kerry's office blamed IRS clerical error for the claim and said his campaign owes no penalties.

The liability described in the tax lien is based on Internal Revenue Code Section 6721 entitled "Failure to File Correct Information Returns".

The Massachusetts Democrat said the IRS mishandled payroll tax forms that he said were correctly filed by his campaign in 2005.

Avoid this tax problem. Speak with a qualified tax attorney in Los Angeles from anywhere in the U.S. about your situation. Call Mitchell A. Port at (310) 559-5259.

June 5, 2009

Late Tax Payment - Late Filed Tax Return

Filing a past due return may not be as difficult as you think. Los Angeles, California taxpayers should file all tax returns that are due, regardless of whether or not full payment can be made with the return. Same is true for California tax returns.

Whether paying taxes with a timely filed tax return, or filing late and paying taxes late after receiving a bill from the IRS (and the bill is correct), LA's taxpayers are encouraged to pay the taxes they owe in full.

Prevent the IRS from levying bank accounts, wages, or other income, or taking other assets. Prevent the IRS from filing a Notice of Federal Tax Lien that may have a detrimental effect on your credit standing.

If you don't file your tax return, the IRS will file a substitute return for you, which will not include any additional exemptions or expenses you may be entitled to and may overstate your real tax liability. Once the tax is assessed the IRS will start the collection process, which can include placing a levy on wages or bank accounts or filing a federal tax lien against your property.

Call a tax professional - call attorney Mitchell A. Port.

June 3, 2009

Free Tax Help

Get Free Help.

The IRS offers free tax assistance in person, by telephone, computer and by fax. The IRS can assist taxpayers with obtaining forms, publications and answers to a wide range of tax questions. The IRS can also help find free tax preparation for those who qualify.

In Person

Taxpayers needing face-to-face help solving individual or business tax problems can get help every business day in every IRS Taxpayer Assistance Center.

By Phone

Call the toll-free customer service line at 1-800-829-1040.

Use Your Computer

Through the Internet, you can access a wealth of free tax information on the IRS Web site. Taxpayers can check out links such as Forms and Publications to download necessary forms, instructions or publications; get the FAQs (Frequently Asked Questions) to get answers to questions

By Fax

You can receive faxed forms and publications by calling 1-703-368-9694 (not a toll-free call). Simply follow the directions from the prompts.

Be careful when providing the IRS with your information while you are trying to information from them. Hire a tax professional if you are concerned you might inadvertantly disclose information you may not want the IRS to have at this time.

June 1, 2009

IRS Now Hiring

There are jobs in California.

The IRS is recruiting hundreds of Internal Revenue Agents with a minimum 30 hours of college-level accounting coursework for openings around the country. To apply for these and other IRS jobs, go to the IRS job search on USAJOBS.