The Comptroller of Public Accounts has announced an AMNESTY for sales tax. The amnesty is of limited duration. It will not help with audits or tax debt. It will help non-filers and under-reporters. This does not apply if you reported tax and did not pay. The…
There is a serious risk when you file bankruptcy to stop tax levies. The bankruptcy filing may not discharge the tax debt in a Chapter 7 case. The filing may require payment in full of the priority tax claim (taxes typically less than three years old).
Waiting or taking alternative action may allow for…
I received a call from one of my long time clients today. I have been representing this business for close to a year with sales tax and IRS payroll tax problems. The conversation was very emotional. He said, “The comptroller just shut down my business, emptied my cash register, and froze my bank account.…
Taxpayers that have not filed tax returns often receive correspondence from the IRS requesting the missing return. Later the taxpayer will receive a letter with an estimated amount of tax for the year that was not filed. once the deadline has passed, the taxpayer is noticed that they now owe tax, penalties, and interest. and…
Every employer is required to pay the tax withheld from their employees. Often businesses do not have the money and fail to deposit the tax as required. This can be for a myriad of reasons. However, I don’t care about the reason. The IRS or state tries to collect the tax. That is this post’s…
Sales tax audits of convenience stores are at an all time high. It just seems that the Texas Comptroller is authorized to check what the stores buy from their suppliers. The liquor wholesalers and big box stores like Sam’s provide the Comptroller with details regarding the purchases made by the store. The convenience store owner…
Most taxpayers owing back taxes worry that the IRS will file a Notice of Federal Tax Lien. They know that it is a public record and will damage their credit. However, the filing of the Notice of Federal Tax Lien is just the tip of the iceberg. The lien is a property right of…
Today I tried to reconcile the payments my client had made to different tax debts. I used IRS transcripts from the IRS to see all of the payments he made over several years. It was just like the scene in the Harry Potter movie where there is a maze that changes as you proceed.…
I am an attorney and also a CPA. I have thirty years of experience successfully helping people who are in tax troubles. I apologize for the conduct of many of the firms that nationally advertise with enormous budgets. Many people come to my office after paying many thousands of dollars to these firms. I…
A debtor owing tax for multiple years files a Chapter 13 bankruptcy. The IRS has properly filed a Notice of Federal Tax Lien before the filing of the bankruptcy. The taxes for the earliest years could have been discharged if the lien had not been filed. The debtor owns a home as his main…
