Regardless of your reasonings for not filing there is still time to set things right, file your tax return as soon as possible. There might be some problems with the Internal Revenue Service (IRS), depending on your filing and how long you wait to take corrective action. As an adult living in the United States, […]
You’ve filed an amended return (Form 1040X for an individual or Form 1120X for a Corporation) or a claim for refund (Form 843) and now the IRS owes you money. However, instead of receiving a much-anticipated check from the IRS, you receive a notice of disallowance, or even no response at all. Now what? What […]
The recently enacted Tax Cuts and Jobs Act (TCJA) made changes affecting both married and divorced couples. For the tax year that began January 1, 2018, the standard deduction for married couples filing jointly almost doubled to $24,000. The standard deduction for married couples filing separately similarly increased to $12,000 each. The highest tax rate […]
Can the IRS Suspend Your Driver License in New York? New York State can suspend a taxpayer’s New York State Driver’s License if a taxpayer owes $10,000 or more in: Taxes Penalties Interest and no collection resolution is in place (such as an installment payment agreement, income execution or offer in compromise). New York State will […]
Starting this month, the IRS now has the ability to have your passport revoked! If the IRS determines that you have a seriously delinquent tax debt, they will certify that debt to the State Department who will deny your passport application and/or revoke your current passport. Seriously delinquent tax debt is currently defined as an […]
Haven’t filed your taxes in years? Or filed your taxes but significantly under-reported how much tax was due? There may be a quick and relatively painless solution for you: the New York State Voluntary Disclosure and Compliance Program. New York State created the Voluntary Disclosure program to encourage Taxpayers who had not filed or paid […]