Randolph Law Firm, P.C.

June 2017 Archives

Bankruptcy and discharge of tax debt: a brief look at some basics, P.2

In our previous post, we began looking at the issue of discharging tax debt in bankruptcy. As we noted, discharge of any debts in bankruptcy is dependent on fulfilling the conditions the court places on the debtor, whether in a repayment plan or in a plan involving liquidation of assets. Then, discharge of tax debt is subject to certain limitations.

Bankruptcy and discharge of tax debt: a brief look at some basics, P.1

In recent posts, we’ve looked at a couple options taxpayers have for resolving unpaid tax debt when they are unable to pay off the debt immediately. While installment plans and Offer in Compromise arrangements can be a good way for taxpayers to resolve tax debt, this debt rarely stands alone.

Work with experienced attorney to secure installment plan, Offer in Compromise for tax debt, P.2

In our last post we began looking at some of the possible options taxpayers may have to obtain relief from burdensome tax debt. One of the options we mentioned was to apply for an installment agreement. Another potential option is to make an Offer in Compromise, which allows the taxpayers to settle with the IRS for less than the full amount owed.

Work with experienced attorney to secure installment plan, Offer in Compromise for tax debt, P.1

Last month, the IRS began a new program in which the agency is using private debt collection agencies to help collect on tax debts. The new program is, for now, targeted at taxpayers who are considered difficult cases—particularly those who have been contacted by the IRS multiple times in previous years but have not cooperated.

The letter from the IRS that you dreaded appeared in your mailbox

You opened your mailbox and you see a letter. The return address indicates it's from the IRS. As you nervously open the letter, your anxiety increases when you realize that the IRS wants to audit you. You immediately begin to wonder where all the receipts and paperwork are that you used to do your taxes.

Worker classification and its effect on employment tax obligations, P.2

Previously, we began looking at the issue of worker classification and its implications for employment tax obligations. As we noted last time, when the IRS finds that a business does not have a reasonable basis for classifying an employee a particular way, the business may be held responsible for employment taxes. In such cases, businesses may be able to settle with the IRS for a reduced tax rate or to obtain partial relief in exchange for reclassifying workers as employees for future tax periods.

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