Tax Matters - The Top Tax Defenders Blog

The Internal Revenue Service (IRS) will assign revenue officers (ROs) to check on tax cases that deviate from the norm. It is a revenue officer’s job to assess a case and collect back taxes from businesses and individuals with cases that are out of the ordinary, such as those who owe more than $100,000. An RO is the person most likely to garnish your wages or levy your bank accounts. If the IRS assigns a revenue officer to your case, it means your tax situation is serious. Here’s what to know about when IRS revenue officer involvement might occur and how to fight back.

How and When the IRS Communicates with Taxpayers

Getting a letter or a phone call from the IRS could put you in a state of panic. You might wonder what is wrong with your taxes and if you are about to go to jail. You can make any communication with the IRS easier and less stressful by knowing how and when this government bureau will contact you about your tax returns.

Thanks to public awareness campaigns, many people today are careful with their personal identity information. They are cautious about to whom and when they give out sensitive details like their addresses, dates of birth, and full legal names. 

Millions of people each year struggle to pay what they owe to the IRS. Estimates say that at least one person out of six in the U.S. either owe the IRS money or are facing other tax crises like failing to file tax returns. When you count yourself as one of these statistics, you can deal with your IRS tax issues and enjoy the numerous benefits that come with hiring a tax professional to help you.

When you borrow money from the federal government to go to school, you are expected to pay back that loan with interest after you graduate. You cannot ignore your obligation to repay your student loans. 

Each tax season brings changes about which you may have questions and concerns. You wonder if these new rules will cause you to owe more money or get a bigger refund. 

Like individual taxpayers, business owners must also file and pay taxes to the IRS. Along with paying taxes on the money that their companies make each year, they also must withhold numerous forms of taxes from their employees' paychecks. 

While the IRS expects you to pay what you owe the federal government each year, it understands you may not have the means to do so. Rather than default on your tax obligation, you could settle your account reasonably by making an Offer in Compromise. You can ensure that the IRS accepts your proposal by avoiding these six common OIC mistakes.

With the resurgence of the housing market, more people are finding it easier to buy new homes. Even so, you may hesitate to submit a mortgage application because you still owe the IRS a tax debt. Discover how unpaid taxes can impact your ability to buy a home and how lenders regard IRS debts when considering new mortgage applications.

The IRS has a legal right to use extraordinary means to collect money owed to the federal government. When you forget or simply choose not to pay your tax debt, you expose yourself to these collection activities that could compromise your financial security.