As a result of the COVID-19 crisis, many federal and New York State tax deadlines were extended. In addition, those who had pending audits or tax collection matters or were paying off back taxes got a temporary break. However, many of these tax relief measures are set to end on July 15, 2020. What
A federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. The IRS People First Initiative has suspended many IRS collection actions including liens; however, taxpayers still need to be concerned. Federal tax liens are subject to different rules than other types of
Many individuals and businesses are facing significant financial problems arising from the coronavirus. The Federal and New York State governments have responded with several changes to provide tax relief. Here are the key provisions taxpayers need to know: Federal Taxes 1. Filing and Paying Taxes. Taxpayers may defer filing and paying their federal taxes
Did you attend the Accounting & Finance Show earlier this month? Many of our friends and colleagues gave great presentations on a wide range of topics. Our attorneys were honored to present on IRS Appeals and Collections, New York State Tax Collections, and Residency Audits. If you couldn’t attend, here are a few topics
Many taxpayers are unaware of enforcement procedures that can be used against them to collect back taxes. The difference between how New York and the IRS collect on that money may not seem crucial. However, it is important to understand how New York State tax warrants and federal tax liens work in order to
The IRS and New York State have been progressively expanding their arsenal of tools to collect back taxes from delinquent taxpayers. At the recent BOOM B2B Expo and Executive Speaker Conference, we spoke to business owners about some of the most powerful enforcement techniques used by the federal and state government. IRS collection methods: Passport revocation.
Join us on August 18th, at LIU Post’s Civil & Criminal Tax Controversy Updates – 2016. The LIU program is an annual event for private and government tax professionals to discuss current events and best practices in federal and New York State cases involving criminal and civil tax penalties and enforcement. We will be
Federal tax liens are frequently used by the IRS to collect taxes owed. A lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. In our last post, we discussed the dangers of a lien. They have a significant impact on your assets and credit
Many taxpayers do not realize all the different tools the IRS can use in its attempts to collect taxes owed. One way is through a federal tax lien. A lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. Tax liens have a significant impact
