The IRS pays whistleblowers 15-30% of recovered tax funds for reporting illegal tax activity. In 2013, over $53 million was paid in rewards. To qualify, the tip must be for individuals making $200,000+ or corporations making $2 million+. Additional tax facts are provided. The Internal Revenue Service (IRS) Whistleblower Office was established in 2006 to […]
The IRS collects income tax from US residents and businesses, with higher incomes paying higher tax rates. State taxes are also due annually. The IRS website provides resources for tax preparation, and while the middle class bears the greatest tax burden, those with high revenues can use accounting strategies for tax relief. The IRS was […]
An IRS tax lien can be issued if a taxpayer owes unpaid state or federal income tax. The lien can be released if the debt is paid, a bond is accepted, or special circumstances exist. A lien can be appealed or withdrawn if a payment plan is set up. The lien affects credit rating and […]
The IRS has a statute of limitations for collecting taxes or issuing refunds, which may vary depending on the situation. Generally, taxes owed must be collected within 10 years, while refunds can be claimed within 3 years of filing. Tax laws are complex and subject to change, so it’s best to consult an accountant or […]
The IRS whistleblower office allows individuals to report tax evasion, potentially receiving a reward of 15-30% of the collected amount. The IRS follows up on credible information and may force accurate tax returns. The agency offers a reward, which can be appealed within 30 days. The Internal Revenue Service (IRS) whistleblower office is an office […]
The IRS collects federal taxes in the US, and taxpayers must file a return. The IRS can issue subpoenas to obtain documents to determine tax liability, and failure to comply can result in legal consequences. The IRS has broad powers to summon persons and records, but there are exceptions such as privilege or the right […]
The IRS collects federal taxes in the US and taxpayers must file a return. The IRS can issue subpoenas to obtain documents to determine tax liability. The recipient must comply or face legal consequences. The IRS can issue subpoenas to anyone with pertinent information and has broad powers to summon both persons and records. Ignoring […]
An IRS debt attorney can represent the government in suing those who owe back taxes or help defendants accused of tax fraud. The IRS collects income tax payments and may hire an attorney to take a case to federal court. An attorney can also help negotiate payment plans and reduce the total amount owed. An […]
Tax evasion can be reported to the IRS through a form, letter, or phone call. Details about the party involved, amount of money, and years evaded should be included. Anonymous reporting is allowed and physical evidence can be helpful. Form 3949-A can be used or a letter can be written with similar information. A person […]
The IRS can use wage garnishment to collect tax debts from delinquent taxpayers. Employers are required to deduct a portion of each paycheck and send it to the IRS. The best way to avoid wage garnishment is to pay taxes on time, and the IRS can also seize property to pay debts. US taxpayers who […]
The IRS offers payment plans for taxpayers who owe money, but it’s important to communicate and commit to the agreement. Late payments can result in additional fees and consequences. Taxpayers can apply for a payment plan online or by mail, and should continue filing annual taxes while paying off previous debts. Owing money to the […]
The IRS can use wage garnishment to collect tax debts from US taxpayers who default on their payments. Employers deduct a portion of each paycheck and send it to the IRS, based on the debtor’s income and living expenses. The IRS notifies debtors before initiating foreclosure and is willing to work out payment plans. To […]
