How Important Are Enrolled Agents?

IRS Tax Attorney Network Enrolled agents, or EA’s, are authorized tax practitioners who represent taxpayers before the IRS. They have technical expertise in federal taxes and have the privilege to represent American taxpayers for appeals, collections and audits before all administrative levels of the IRS. IRS Tax Attorney Network adds that enrolled agents are licensed […]

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What Is an Amended Return?

IRS Tax Attorney Network An amended return is a corrected return that is filed by a taxpayer after an incorrect return had been filed earlier. It may have corrections concerning the filing status of the taxpayer, income figures, deductions, or tax credits. Any miscalculation on the part of a taxpayer does not require filing an […]

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What Is a Penalty Abatement?

IRS Tax Attorney Network Taxpayers who have unpaid taxes are charged penalties and interest monthly until the entire tax debt amount is paid. Even if taxpayers are unable to reduce their tax debt amount, they can certainly get their penalties reduced or terminated through a Penalty Abatement. IRS Tax Attorney Network stresses that penalties can only […]

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Dealing with Penalties and Interest

IRS Tax Attorney Network The IRS charges monthly penalties and interest on unpaid tax debts held by taxpayers. This is done to increase compliance of US tax laws. Penalties for late-filing may be abated if taxpayers have a reasonable cause for their failure to pay taxes on time. IRS Tax Attorney Network discusses the various […]

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The Hidden Details of an Offer in Compromise

IRS Tax Attorney Network An Offer in Compromise is a tax debt payment settlement between a taxpayer and the IRS that reduces the tax debt amount of the taxpayer so that the tax debt can be paid. An Offer in Compromise is unlike other IRS debt payment programs where taxpayers are required to pay the […]

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Facts About an IRS Tax Lien

IRS Tax Attorney Network A tax lien is one of the most aggressive collection actions of the IRS. It allows the IRS to have a legal claim against a taxpayer’s property when they ignore or fail to pay their tax debt. The government can seize and sell property, including real estate, personal property, and financial […]

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