0
What else can I help you with?
Will the IRS hold my refund if I owe taxes?
Yes, the IRS may hold your refund if you owe taxes or have other outstanding debts such as unpaid child support or federal student loans. They can use your refund to offset these debts.
Under what circumstances can the IRS seize an irrevocable trust?
The IRS can seize an irrevocable trust if the trust owes unpaid taxes and the assets within the trust are considered part of the taxpayer's overall assets.
Does the IRS collect state taxes?
No, the IRS does not collect state taxes. State taxes are collected by individual state governments, while the IRS (Internal Revenue Service) collects federal taxes on behalf of the federal government.
Do you need IRS help with your taxes?
If you need assistance with your taxes from the IRS, you can seek help from their resources and services.
Can the IRS come after an LLC for personal taxes?
Yes, the IRS can come after an LLC for personal taxes if the LLC is a pass-through entity and the owners have not paid their personal taxes.
If you have unpaid taxes to the IRS and you have a co-signer on a personal loan can the co-signer be liable for your debt to the IRS?
No.
What professional can be used to solve payroll tax problems?
The IRS views unpaid payroll taxes as an emergency problem requiring their immediate attention. Unpaid payroll taxes are significantly more serious than unpaid income taxes. As a business owner, if you do not quickly take action to resolve payroll tax problems, the IRS will ruin your business and your personal financial life.
Can IRS take your refund for a garnishment?
ONLY for: 1-Unpaid delinquent student loans 2-Prior unpaid taxes 3-Delinquent child support
Will the IRS hold my refund if I owe taxes?
Yes, the IRS may hold your refund if you owe taxes or have other outstanding debts such as unpaid child support or federal student loans. They can use your refund to offset these debts.
If upaid income taxes for 2005 are 600 what do you now owe?
You would need to contact the IRS to get this information. For each month the debt remains unpaid, the IRS adds penalties and interest to the original $600. The interest rate fluctuates according to the prime, so it would be impossible to answer the question in this forum. If you contact the IRS, they may allow you to make monthly installment payments to satisfy the outstanding balance.
Is interest paid IRS on delinquent taxes deductible?
No, personal interest is never deductible, regardless of who it is paid to.
At what point will the IRS seize property from a business for unpaid payroll taxes?
The IRS may seize property from a business for unpaid payroll taxes after it has issued a notice of demand for payment and the business fails to respond or settle the debt. Typically, the IRS will follow a series of collection attempts, including sending notices and allowing time for payment. If the taxes remain unpaid, the IRS can initiate a levy, which may involve seizing bank accounts, property, or other assets to recover the owed amount. It's important for businesses to address payroll tax issues promptly to avoid these severe consequences.
What is the cost of IRS errors?
If you do your own taxes and make an error, the IRS can add penalties and interest. The actual cost can vary depending on how much you owe the IRS.
Can you get a refund from IRS on mortgage taxes and interest?
No, but you can write them off as itemized deductions on your Schedule A.
Under what circumstances can the IRS seize an irrevocable trust?
The IRS can seize an irrevocable trust if the trust owes unpaid taxes and the assets within the trust are considered part of the taxpayer's overall assets.
Will the IRS take your taxes for unpaid student loan?
The government can offset refunds by what it is owed...(the money would go to the student loan program).
Who to call to find out if taxes will be garnished?
Wages can be garnished for unpaid taxes through various methods such as your current employer. The best way to find out if you are facing a garnishment is through the IRS or your payroll department.
