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Las Vegas Tax Law Blog

Surviving an IRS audit

There are two types of people in Nevada: those who dread tax time and those who work for the Internal Revenue Service. You probably fall into the former category, especially if you have received a notice in the mail that the IRS is going to audit your tax return. This means that the IRS is checking to make sure that the financial information you reported to the government is accurate.

Many times, audits are electronically triggered when computers determine your credits and deductions exceed what they consider normal. If the IRS is auditing someone close to you - for example, a business partner - the IRS may look into your accounts as well. On the other hand, you may be one of the lucky few whom the agency randomly selects for an audit.

Private tax collectors, part 2: cases of financial hardship

Next month the IRS will begin a program for using the private debt collection industry to go after people with certain types of tax debt.

In part one of this post, we noted that this could hurt the IRS's efforts to prevent scams whereby fraudsters pose as IRS agents. This is because the IRS has repeatedly said that it does not initiate contact with taxpayers by phone- yet the private debt collection program (PDC) would include phone calls by private collectors claiming to be from the IRS.

Problems with using private debt collectors for taxes, part 1: scam protection

In April, the IRS is expected to roll out a program for the use of private debt collectors to go after people with overdue taxes.

Congress directed the IRS to develop such a program, despite the fact that previous attempts to use private collectors ended up costing the government revenue rather than increasing it.

Shrinking what you owe Uncle Sam

By now, you should have received your 1099s from your clients or gathered all schedules and other forms you need to prepare your taxes. It probably seems like a daunting task ahead of you, especially if you are still trying to pay what you owed from last year. You certainly don't expect to get a refund, but it would be nice to shave a little from what you may owe.

3 FAQs on bank account freezes for tax debt

The IRS may not call it a freeze. But when they put a 21-day hold on your bank account, preparatory to taking money from it to pay tax debt, a freeze is the effect.

The resulting situation is immediately an urgent one. You can't get at the money in your account until the hold is cleared and the levy against your property released.

Tax refund fraud still on IRS's 'dirty dozen' list of scams

The Dirty Dozen was a World War II movie about an attempt by the U.S. military to train convicted murderers to assassinate German officers.
Released in 1967, it starred Lee Marvin and other leading action-movie stars of the time.

In recent years, the term "dirty dozen" has become a handy term for lists of harmful things to watch out for. Environmental groups use it, for example, for types of produce that are most affected by pesticides.

A different travel ban: passport denial or revocation for tax debt

Newly-inaugurated President Donald Trump's attempt to ban travel to the U.S. from seven predominately Muslim countries has been blocked for now by a federal court.

But Trump's would-be travel ban is not the only potential federal travel restriction to be aware of. There is also the power given by Congress to the IRS in late 2015 to revoke or deny passports in certain cases of delinquent taxes.

Unpaid student loans: Can they garnish your tax refund to collect?

It isn't only Millennials who have a lot of student loan debt. Millions of Americans from previous generations still have lots as well.

If you can't pay your loans back, can the Department of Education - which guarantees the loans - go after your tax refund?

Making an offer in compromise (OIC): Can the process be improved?

One of our recurring themes in this blog is that an offer in compromise can enable you to settle your tax debt with the IRS for less than the full amount you owe.

To be sure, the IRS doesn't have to agree to your offer. That's why it makes sense to work with a tax attorney to prepare it carefully.

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