IRS Tax Resolution What Happens If You Ignore IRS Notices? Opening your mailbox to find a letter from the IRS can be stressful. For many taxpayers, the natural reaction is to put the notice aside and deal with it later.
Polaris Tax & Accounting Blogs & Articles
Polaris Tax & Accounting Blogs & Articles focus on tax compliance and enforcement issues primarily affecting North Carolina taxpayers. The blog covers topics such as the interaction between state tax problems and federal IRS enforcement, the impact of North Carolina income tax changes on federal tax filings, and strategies for resolving tax notices and penalties. It also discusses practical guidance on when to engage with the IRS, how to interpret IRS transcripts, and options for penalty abatement. The content is aimed at helping taxpayers understand and navigate the complexities of state and federal tax regulations and enforcement actions.
Latest from Polaris Tax & Accounting Blogs & Articles - Page 2
IRS Levy vs. Tax Lien: What’s the Difference?
By Joe Serrone
IRS Tax Resolution IRS Levy vs. Tax Lien: What’s the Difference? Many taxpayers use the terms IRS tax lien and IRS levy interchangeably. Although both are collection tools used by the Internal Revenue Service, they are very different. Understanding the…
How Long Does the IRS Have to Collect Back Taxes? Understanding the Collection Statute Expiration Date (CSED)
By Joe Serrone
IRS Tax Resolution How Long Does the IRS Have to Collect Back Taxes? Understanding the Collection Statute Expiration Date (CSED) One of the most common questions taxpayers ask after receiving an IRS collection notice is, “Can’t I just wait ten…
Can IRS Penalties Be Removed?
By Joe Serrone
IRS Tax Resolution Can IRS Penalties Be Removed? Receiving an IRS notice with hundreds—or even thousands—of dollars in penalties can be frustrating. Many taxpayers assume IRS penalties are permanent and simply part of the cost of falling behind on taxes.…
How Does the IRS Calculate an Offer in Compromise?
By Joe Serrone
IRS Tax Resolution How Does the IRS Calculate an Offer in Compromise? One of the biggest misconceptions about an Offer in Compromise (OIC) is that the IRS simply agrees to “settle for pennies on the dollar.” That is not how…
What Is a Partial Payment Installment Agreement (PPIA)?
By Joe Serrone
IRS Tax Resolution What Is a Partial Payment Installment Agreement (PPIA)? Many taxpayers assume that if they owe the IRS money, they must enter into a payment plan that pays the balance in full. While that is often true, it…
Can the IRS Take My House for Back Taxes?
By Joe Serrone
IRS Tax Resolution Can the IRS Take My House for Back Taxes? Few IRS collection questions create more anxiety than whether the government can take your home. Many taxpayers believe the IRS immediately seizes houses once taxes become overdue, while…
Why Is My IRS Balance Different Online Than on My Notice?
By Joe Serrone
IRS Tax Resolution Why Is My IRS Balance Different Online Than on My Notice? If your IRS Online Account shows one balance and your IRS notice shows another, you are not necessarily looking at an error. IRS balances can change…
IRS Account Transcript vs. Return Transcript: What’s the Difference?
By Joe Serrone
IRS Tax Resolution IRS Account Transcript vs. Return Transcript: What’s the Difference? One of the first questions we ask new IRS resolution clients is, “Have you obtained your IRS transcripts?” The second question is often, “Which transcript did you request?”…
Can I Replace an IRS Substitute for Return?
By Joe Serrone
IRS Tax Resolution Can I Replace an IRS Substitute for Return? Many taxpayers believe that once the IRS files a Substitute for Return (SFR), there is nothing they can do except pay the tax bill. Fortunately, that is often not…