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Las Vegas Tax Law Blog

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.

More tax scams to avoid: scams that target tax preparers

Tax scams are a risk all year round; they never go out of season. But scams tend to spike during tax-filing season.

And so, with a new filing season getting underway, extra vigilance is in order. In this post, we will update you on a warning recently issued by the IRS regarding scams that target paid tax preparers and other tax professionals.

What to do when the IRS issues an audit

Sometimes it's a good thing when someone singles you out. It feels good when your boss gives you a raise, a client chooses your proposal or an attractive person asks you on a date. However, when the Internal Revenue Service chooses to audit you, this may not feel so good. In fact, you may feel a little nervous.

Agreements to pay back taxes: What if you can't make the payments?

You couldn't pay all of your taxes on time, so you took out an installment agreement (IA) or got the IRS to accept an offer in compromise (OIC).

That was the sensible thing to do, to avoid the IRS taking collection action against you.

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