Jul 292011
IRS Announces Webinar On Fresh Start Initiative

Recently, our Tax Blog published a post on the IRS Fresh Start Initiative and the changes that taxpayers can expect in IRS procedure.  Now the IRS has announced the presentation of a live webinar on this subject to occur on August 31 at 2:00 p.m. ET.  The topic will be, “Learn about the IRS Fresh Start Initiative – Help for Struggling Taxpayers,” and will be broadcast for one hour.  Interested viewers can learn about changes to collection policy for lien filing thresholds, lien withdrawals, installment agreements, and offers in compromise.  Viewers can register online to watch the live program anytime More…

Jul 262011
IRS Eases Restrictions On Innocent Spouses

The IRS recently announced that they would be easing the 2 year deadline on taxpayers seeking innocent spouse relief.  A taxpayer who is a party to a joint tax return and later requests innocent spouse relief may be relieved of responsibility for paying taxes, interest, and penalties if their spouse (or former spouse) improperly reported or omitted items on their returns.  If a taxpayer qualifies for innocent spouse relief then the taxes, interest, and penalties at issue can only be collected from the spouse who is deemed responsible. The previous 2 year limitation began to run from the date of More…

Jul 212011
IRS Moves Forward With Fresh Start Initiative

Earlier this year, the IRS announced their fresh start initiative, which has been billed as their latest attempt to help struggling taxpayers.  These new policies and programs are designed to help individuals and small businesses meet their tax obligations, settle back tax deficiencies and avoid tax liens.  The changes associated with this program include: increasing the dollar threshold for when liens are issued; easing and simplifying the process for taxpayers to obtain lien withdrawals once their tax bills are settled; withdrawing liens upon entering a direct debit installment agreement; creating easier access to installment agreements for struggling small businesses; and More…

Jul 182011
Florida Documentary Stamp Taxes And Transfers Of Real Property

Our sister-blog, the Ourednik Law Offices Estate Planning Blog, recently published a post on Florida’s documentary stamp tax and its economic effect on the conveyance of real property to a revocable living trust.  A link to this post can be found here.  Interested tax blog readers may wish to check it out.

Jul 072011
IRS Video - How To Reacquire Tax-Exempt Status

Recently we published a post detailing the IRS’ announcement that approximately 275,000 organizations have lost their tax exempt status for failure to file legally required annual reports for three consecutive years.  In response to this issue, the IRS has now released a video which is available on the IRS YouTube Channel that details how an affected organization can get back their tax exempt status. Hopefully, this easily accessible resource will provide some relief if your organization is one of those whose status was revoked.  Of course, dealing with the IRS can be confusing even when they provide helpful videos as More…