Posts Tagged ‘Tax Attorney’
Friday, April 15th, 2011
The IRS issued a press release advising taxpayers of payment options when you file your income tax return. The release is IR 2011-42. I have placed it in the blog below. The most important thing for you to know is if you owe taxes but you cannot pay the full amount file your tax return and make a payment. Fill out and attach to your return Form 9465 — Installment Agreement Request. The IRS will contact you to work out a payment plan. Read the information below.
Remember, I am a tax attorney having worked in Office of Chief Counsel, IRS. If you have questions or need help with the IRS, just let me know.
Bill Lowrance
Lowrance Law LLC
McLean, VA
IRS reminds taxpayers with a balance due that there are several payment options available [IR 2011-42]: Taxpayers who have a balance due when they file their 2010 federal individual income tax returns have several payment options.
Payments can be made by electronic funds withdrawal, credit or debit card, the Electronic Federal Tax Payment System, or check or money order. According to IRS, some taxpayers who itemize their deductions may be eligible to claim as a miscellaneous itemized deduction the convenience fee charged to pay individual income taxes by credit or debit card.
Along with a check or money order, a taxpayer must include Form 1040-V, Payment Voucher. If a return has already been submitted but additional payment is due, a check or money order should be mailed to IRS with Form 1040-V. “For members of the military and others serving in combat zones, the filing and payment deadline is normally postponed until at least 180 days after the service member leaves the combat zone,” IRS said. “If you are eligible, you get the extra time without having to ask for it,” IRS added.
The agency advises taxpayers with a balance due to pay as much as possible by April 18 to avoid penalties and interest. Those who cannot pay in full have several options to consider. The first is an installment agreement. In most cases, this can be done in several minutes by using the IRS website, the agency said. The second payment option is an Offer in Compromise, which is an agreement between a taxpayer and IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. It is subject to acceptance based on legal requirements. The news release can be viewed on the IRS website.
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Tags: collect tax, failure to pay, income tax, IRS, Office of Chief Counsel IRS, Tax Attorney, Tax Authorities, tax collection, tax law, tax news
Posted in Attorney, Collections, Controversy, IRS, IRS Audits, Tax Liens, Tax Litigation, Tax Problems, income tax, tax news, tax return | No Comments »
Wednesday, April 13th, 2011
The IRS just sent out IRS Tax Tip 2011-73. The notice gives you the IRS view of what to do if you receive a letter from the IRS. Read this over and do not panic. If you need assistance with the IRS, please contact me at 703 506 1600. I handle audits, examinations and litigation of IRS matters
Eight Things to Know If You Receive an IRS Notice
the Internal Revenue Service sends millions of letters and notices to taxpayers
for a variety of reasons. Here are eight things to know about IRS notices – just
in case one shows up in your mailbox.
Don’t panic. Many of these letters can be dealt with simply and painlessly.
There are a number of reasons why the IRS might send you a notice. Notices may request payment of taxes, notify you of changes to your account, or request additional information. The notice you receive normally covers a very specific issue about your account or tax return.
Each letter and notice offers specific instructions on what you are asked to do to satisfy the inquiry.
If you receive a correction notice, you should review the correspondence and compare it with the information on your return. If you agree with the correction to your account, then usually no reply is necessary unless a payment is due or the notice directs otherwise. If you do not agree with the correction the IRS made, it is important that you respond as requested. You should send a written explanation of why you disagree and include any documents and information you want the IRS to consider, along with the bottom tear-off portion of the notice. Mail the information to the IRS address shown in the upper left-hand corner of the notice. Allow at least 30 days for a response.
Most correspondence can be handled without calling or visiting an IRS office. However, if you have questions, call the telephone number in the upper right-hand corner of the notice. Have a copy of your tax return and the correspondence available when you call to help us respond to your inquiry. It’s important that you keep copies of any correspondence with your records.
For more information about IRS notices and bills, see Publication 594, The IRS Collection Process. Information about penalties and interest is available in Publication 17, Your Federal Income Tax (For Individuals). Both publications are available at the IRS website, www.irs.gov.
Tags: collect tax, income tax, IRS, Tax Attorney, tax collection, Tax Litigation, Tax Problems
Posted in Attorney, Collections, Controversy, IRS, IRS Audits, Tax Attorney, Tax Liens, Tax Litigation, Tax Problems, income tax, tax deductions, tax news | No Comments »
Monday, May 18th, 2009
Okay. Get ready. The IRS is gearing up and has announced jobs for hundreds of critical jobs nationwide. Most of these jobs are for internal revenue agent positions (look for series number 0512). At least 30 hours of college-level accounting coursework is required for revenue agent jobs.
What does this mean? IRS will hire revenue agents to conduct audits and examinations. There will be more tax enforcement. It takes about a year for the IRS to hire and train a revenue agent before the agents start with tax audits. The future?
Read it all at Here
Bill Lowrance
Tags: IRS, Tax Attorney, Tax Authorities, tax crimes, Tax Problems, taxes
Posted in IRS, IRS Audits, Tax Attorney, Tax Crime, Tax Liens, Tax Litigation, income tax, tax news | No Comments »
Thursday, May 7th, 2009
Here are a couple of the FAQs the IRS published yesterday on its web site regarding offshore accounts:
1. Why did the IRS issue internal guidance regarding offshore activities now?
The IRS has had a voluntary disclosure practice in its Criminal Manual for many years. Once IRS Criminal Investigation has determined preliminary acceptance into the voluntary disclosure program, the case is referred to the civil side of IRS for examination and resolution of taxes and penalties. Recent IRS enforcement efforts in the offshore area have led to an increased number of voluntary disclosures. Additional taxpayers are considering making voluntary disclosures but are reportedly reluctant to come forward because of uncertainty about the amount of their liability for potentially onerous civil penalties. In order to resolve these cases in an organized, coordinated manner and to make exposure to civil penalties more predictable, the IRS has decided to centralize the civil processing of offshore voluntary disclosures and to offer a uniform penalty structure for taxpayers who voluntarily come forward. These steps were taken to ensure thattaxpayers are treated consistently and predictably.
3. Why should I make a voluntary disclosure?
Taxpayers with undisclosed foreign accounts or entities should make a voluntary disclosure because it enables them to become compliant, avoid substantial civil penalties and generally eliminate the risk of criminal prosecution. Making a voluntary disclosure also provides the opportunity to calculate, with a reasonable degree of certainty, the total cost of resolving all offshore tax issues. Taxpayers who do not submit a voluntary disclosure run the risk of detection by the IRS and the imposition of substantial penalties, including the fraud penalty and foreign information return penalties, and an increased risk of criminal prosecution.
Remember the IRS deadline for this voluntary disclosure deal is September 23, 2009.
Tags: cirme, foreign bank accounts, income tax, IRS, Offshore, Offshore Accounts, secret bank accounts, Swiss Accounts, Tax Attorney, Tax Crime, tax havens, Tax Problems
Posted in Attorney, Controversy, IRS, IRS Audits, Offshore Accounts, Tax Attorney, Tax Crime, Tax Litigation, Tax Problems, income tax, tax news | No Comments »
Monday, October 6th, 2008
Lowrance Law LLC is a private law firm in McLean, VA, specializing in tax problems. I represent people having tax problems with the IRS. I focus on tax controversy matters (civil and criminal tax matters), and tax disputes for small businesses, individuals and other attorneys.
Today is the first posting to the Lowrance Law Firm’s Blog. In fact, the Lowrance Law website, Lowrance Law LLC, is online today. The purpose of this Blog is to discuss tax controversy issues, news about taxes, the Internal Revenue Service and the tax code. I will write about these subjects in ordinary, non-technical and understandable language. Discussing taxes can be very dry and technical, but I hope to add new insight to various tax issues.
For example, how do you feel when you receive a letter from the IRS? You probably feel queasy, nervous and dread opening the envelope. When you receive that letter you are involved in a tax controversy whether you realize it or not. The IRS will tell you they are examining your tax return regarding certain matters. They will ask you to provide more information, and they may invite you to come into the office to explain your tax return. Sometimes this starts a long road to solving your tax problems. Your particular tax problem may be “no changed” by the examining agent. If so, you are lucky. That means the IRS accepts your return as filed. If the IRS disallows your deduction or adds more income to your return, you may start on various appeals within the IRS perhaps leading to litigation.
In future posts, I will discuss the many ways of dealing with the IRS or the state taxing authorities. I will explain about IRS collection procedures, appeal procedures, how to deal with the Revenue Agents and how to find someone to represent you if needed.
You can read about the details of my experience as a tax attorney with the Office of Chief Counsel, IRS, on my website, Lowrance Law LLC. I worked with and advised IRS agents in many types of cases. I litigated many tax cases in the United States Tax Court, and I assisted the US Department of Justice in tax cases. My tax attorney experience combined with my litigation and investigative experience (former Special Agent, FBI) provides me with unique skills to deal with tax controversy matters.
This Blog will evolve over time with research links, links to other tax blogs and discussions that will help you understand how to deal with the IRS and other tax authorities.
Contact me with any questions.
Bill Lowrance
Tags: FBI, IRS, Office of Chief Counsel IRS, Tax Attorney, tax law, Tax Problems
Posted in Attorney, IRS Audits, Tax Attorney, Tax Litigation, Tax Problems | No Comments »
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