Tax Relief Articles
Are you interested in learning more about tax relief for your own knowledge? MW Attorneys provides visitors with helpful and relevant IRS tax relief articles free of charge. Browse through our articles for the IRS information you need. If you have further questions, feel free to contact us today!
Are Legal Settlements and Judgement Awards Taxable Income?
This article discusses the tax implications of funds received through legal settlements or judgments, emphasizing that taxation depends on the nature of the underlying claim. Generally, settlements for physical injuries or sickness are non-taxable, while punitive damages and certain emotional distress compensations are taxable.
You Owe the IRS and Have Not Filed Your Tax Returns
This article addresses the consequences of failing to file tax returns when owing the IRS, this article highlights potential penalties, interest accrual, and the importance of promptly addressing unfiled returns to mitigate further complications.
How Much Can the IRS Levy From Your Paycheck?
This article explores the extent of the IRS’s power to garnish wages, the article explains that the IRS can levy a significant portion of a taxpayer’s paycheck, leaving only a minimal exempt amount based on filing status and exemptions claimed.
Mistaken IRS Bank Levy Procedures
This article examines scenarios where the IRS may mistakenly levy a taxpayer’s bank account, outlining the procedures for addressing such errors and the steps to recover wrongfully seized funds.
Trust Fund Taxes Explained
Focusing on trust fund taxes, such as payroll taxes withheld from employees, the article explains the employer’s responsibility to remit these taxes to the IRS and the severe penalties for mismanagement or failure to pay.
IRS Substitute Returns
Discussing the IRS’s authority to file a substitute return on behalf of taxpayers who fail to file, this article emphasizes the importance of filing accurate returns to avoid the IRS’s often less favorable calculations.
Foreign Earned Income
This article delves into the tax treatment of income earned abroad, detailing the criteria for the foreign earned income exclusion and the requirements taxpayers must meet to qualify.
Form 2290 Taxes Explained
Explaining the Heavy Vehicle Use Tax reported on Form 2290, the article outlines who must file, the filing deadlines, and the implications for owners of heavy highway vehicles.
Liquid Assets in Tax Relief Cases
The article defines liquid assets in the context of tax relief, discussing how the IRS assesses a taxpayer’s ability to pay based on assets that can be readily converted to cash.
Federal Tax Lien Mailers
Addressing the practice of third-party companies sending mailers about federal tax liens, this article cautions taxpayers to be wary of misleading solicitations and emphasizes verifying the legitimacy of such communications.
Traps of IRS Payroll Deduction Agreements
Highlighting potential pitfalls in IRS payroll deduction agreements (Form 2159), the article advises taxpayers to be cautious of clauses that may lead to unintended increases in payment amounts or extended payment periods.
Potentially Dangerous Taxpayer
This article outlines the criteria and consequences of being classified as a Potentially Dangerous Taxpayer (PDT) by the IRS, a designation given to individuals who have threatened or harmed IRS employees.
When Do Business Miles Count as Income?
Exploring the circumstances under which reimbursed business mileage may be considered taxable income, the article clarifies the IRS guidelines on mileage reimbursements and deductions.
Received an IRS Tax Lien Notice? Don’t Panic
Offering guidance to taxpayers who have received a federal tax lien notice, this article explains the implications of a tax lien and steps to address and resolve the underlying tax debt.