IRS Problems

The focus of our firm is helping individuals and business owners deal with IRS problems like a large tax debt bill, accumulated penalties and interest, or liens, levies and garnished wages. In this category of our blog, we have written various articles about these sorts of IRS tax problems and how to address them.

IRS Problems

Once You Owe The IRS Money, It Never Goes Away

IRS Myth 12: Once You Owe The IRS Money, It Never Goes Away

Every year, my clients save millions of dollars because the time for the IRS to collect has expired. The Statute of Limitations for when you owe the IRS money is 10 years from the day the tax was assessed. Some of these people have been declared uncollectible by the IRS or have been making small payments and have not been able to fully pay over the years. Others are just plain lucky that they have slipped under the radar.

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IRS Myth If Your Business Owes Money, You Are Not Personally Responsible

IRS Myth 8: If Your Business Owes Money, You Are Not Personally Responsible.

Many small businesses are unable to pay their payroll taxes for various reasons. Often, they do not have enough money to pay all of their bills. If they do not pay their rent, they will get evicted. If they do not pay their utilities, they will be shut off. If they do not pay their vendors or suppliers, they will not be able to do business. If they do not pay their employees, they will quit. The easiest creditor not to pay is the IRS because they do not have their hand out at the end of the week. Of course, the IRS believes they should be first in line, so if they do not get paid, they come back with a vengeance, levying bank accounts, credit card processors, and accounts receivables.

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