Minnesota Tax Law & Federal Tax Law
Who needs a Tax Attorney?
IRS employees are trained to take your money whether you owe it or not, and they are trained to get information from you that you are better off not giving them...more
When Should You Contact a Tax Attorney?
It is vitally important that you CALL A TAX ATTORNEY AS SOON AS YOU RECEIVE, A NOTICE OF LIEN, A NOTICE OF LEVY, A NOTICE OF DEFICIENCY, A NOTICE OF CHANGE IN YOUR ACCOUNT, A NOTICE OF AUDIT....more
FAILURE TO PAY TAX
Separate penalties apply for failing to pay and failing to file. The failure to pay penalty the “gentler†of the two, running at 1/2% for each month (or part of a month) the payment is late....more
Failure to File
The failure to file penalty, also known as the delinquency penalty, runs at the more severe rate of 5% per month (or partial month) of lateness to a maximum of 25%....more
Civil Fraud
It applies if any part of a tax underpayment is due to fraud, and the penalty equals 75% of that portion of the underpayment attributable to fraud....more
Tax Lien
If any person liable to pay any tax neglects or refuses to pay the same after demand, the amount (including any interest, additional amount, addition to tax, or assessable penalty, together with any costs that may accrue in addition thereto) shall be a lien in favor of the United States...more
Tax Levy
Following a notice of tax lien comes the tax levy. This is where the IRS comes and takes possession of, and sells your house and anything else you may have of value....more
Tax Evasion
Tax Evasion is the general term for efforts by individuals, firms, trusts and other entities to evade taxes by illegal means....more
Money Laundering and Wire / Mail Fraud
Anyone faced with any criminal tax charge will most likely also be charged with money laundering or wire/mail fraud....more
Where Tax Problems Are Handled
Most tax problems are handled with the IRS office via audit, appeals conferences and final agreements. ...more
Debt Forgiveness Almost Always Means Additional Income
Generally, debt forgiven is income added to a taxpayer's return but, if such debt is forgiven before 2013 and the debt was for a personal residence (qualified), there will be no additional income added to the taxpayer....more
History of the Internal Revenue Service IRS
The roots of IRS go back to the Civil War when President Lincoln and Congress, in 1862, created the position of commissioner of Internal Revenue and enacted an income tax to pay war expenses....more
IRS said Real Estate Agents are not Real Property Professionals
Does a real estate agent qualify as a real estate professional for the purposes of deducting rental expenses from regular income? The IRS says no....more
This content is not meant to constitute advice of any kind, including without limitation, legal advice of any kind. If you require advice in relation to any legal matter you should consult an appropriately qualified lawyer.
