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Monthly Archive:: May 2021

IRS Lock-In Letters – What’s An Employer To Do?

TweetShare1SharePin1 Shares IRS Lock-In Letters – What’s An Employer To Do? Source: Flickr Employers often ask employees to designate the amount of tax withholdings for paychecks. Occasionally, employees will fail to withhold a sufficient amount in the eyes of the IRS. The IRS will then send a “lock-in” letter on the amount to be withheld.

Innocent Spouse Relief: Understanding the Requirements

TweetShare1SharePin1 SharesThis short article clarifies exactly how innocent spouse relief works as well as exactly how one can get approved for it. A joint tax obligation filing return makes both parties in charge of the tax obligation bill. It eliminates the requirement to foot additional tax debt with an innocent spouse relief if your companion

Innocent Spouse Relief – Defined

TweetShare1SharePin12 SharesInnocent spouse relief can be used when one spouse of a joint return is assessed additional tax based on the erroneous filing by the other spouse. This method can be extremely complex and usually involves the assistance of a tax attorney, but can be a viable option depending on the circumstances. Notice: JavaScript is

IRS Form 8379: Injured Spouse Allocation

TweetShare1SharePin1 SharesThe Internal Revenue Service (IRS) has the power to seize income tax refunds when a taxpayer owes certain debts, such as unpaid taxes or overdue child support. Sometimes, a married couple’s joint tax refund will be seized because of a debt for which only one spouse is responsible. When that happens, the other spouse

Injured Spouse

TweetShareSharePin0 SharesInjured Spouse The phrase “injured spouse” has absolutely nothing to do with being literally hurt. In taxes, you may be an injured spouse if you file a joint tax return when your partner has past debts the IRS can collect. Also if you should be obtaining a reimbursement, the IRS could utilize all or

The Legalities And Issues With An IRS Levy

TweetShare1SharePin12 Shares The Legalities And Issues With An IRS Levy Source: Flickr An IRS levy is an order from the Internal Revenue Security directing TVA to withhold a specified amount of an employee’s pay to satisfy a tax debt. If the IRS determines that we owe back tax then it may issue an IRS levy
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