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
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
If you're experiencing a financial challenge, take into consideration CNC condition.
TweetShareSharePin0 Shares This has been a tough year for the IRS. For a variety of reasons not the least of which is the pandemic, it has faced numerous challenges. My understanding is that its performance in answering the general phone line during the filing season ranged somewhere between 2-5% which is not good but it’s
TweetShareSharePin0 Shares In 86 questions and answers, the IRS in Notice 2021-31 gave employers, health care plans, and insurers background and clarifications on how to provide premium assistance for COBRA health care continuation benefits to affected employees and other beneficiaries and claim a corresponding tax credit. The temporary premium assistance and credit are available under
TweetShareSharePin0 Shares Congress has passed legislation creating a much expanded child tax credit (CTC) and requiring the IRS to make advance payments of the CTC during the 2021 tax year starting in July. The expanded credit provides a $3,600 credit for every child under 6 and a $3,000 credit for every child under 17. The
TweetShareSharePin0 Shares In Rev. Proc. 2021-24, the IRS clarified how individuals who are not otherwise required to file 2020 federal income tax returns can claim advance child tax credit (CTC) payments as well as stimulus payments (i.e., third-round economic impact payments, 2020 recovery rebate credit payments, and additional 2020 recovery rebate credit payments). To process
TweetShareSharePin0 Shares In this brief post and following on Professor Bryan Camp’s discussion, I offer some initial observations on the Supreme Court’s CIC Services opinion. As Keith noted in his introduction to Bryan’s post, I am not disinterested in this issue-with the Harvard Clinic and on behalf of the Center for Taxpayer Rights I helped
TweetShareSharePin0 Shares A lawsuit against the IRS’s requirement that taxpayers using certain microcaptive insurance arrangements and their material advisers must report the arrangement to the IRS is not barred by the Anti-Injunction Act and therefore may proceed, the Supreme Court ruled Monday. In a unanimous decision, the Court in CIC Services, LLC, No. 19-930 (U.S.