The IRS announced today that it has temporarily closed all Taxpayer Assistance Centers and discontinued face-to-face service throughout the country until further notice. The IRS also announced that it is continuing to process tax returns, issue refunds, and help taxpayers through this difficult time.
If an individual or business owes federal taxes and does not have the current ability to pay these taxes, the IRS can "seller-finance" and offer a payment plan with the taxpayer. The primary benefit of a payment plan is that it provides a clear agreement with the IRS on how much is to be paid and over what time period. Also, and as an inducement to enter into a payment plan with the IRS, the IRS will reduce the amount of penalties that will be due. The IRS will not "levy" or "garnish" wages or seize bank accounts while a payment plan is in effect.
Before the IRS will consider a payment plan for back ...
If an individual or business owes unpaid income taxes to the IRS, or to a state, federal bankruptcy laws may provide relief for some, if not all, of these taxes. Generally applicable to "older" federal and state income taxes, if a taxpayer has filed timely tax returns for a tax period, the due date of which, including extensions, is more than 3 years from the date a bankruptcy petition is filed; if the tax return is filed late, at least 2 years have elapsed since the filing of the late return and the filing of the bankruptcy petition; and, where the IRS has made an "assessment" of the tax owed, at ...
On December 2, 2014, the South Carolina Department of Revenue issued S.C. Temporary Revenue Ruling No. 14-8 and No. 14-9 regarding the income and property tax treatment for married same-sex couples.Same-sex couples filing a federal income tax return with a married filing status must now file a South Carolina income tax return using the same married filing status.
In S.C. Temporary Revenue Ruling No. 14-8, the Department of Revenue instructs same-sex couples who are legally married under any state law to file their 2014 South Carolina income tax return as a married couple - either ...
Robert is a veteran tax return preparer of 20 years, who walks into his office on February 2, 2015 to begin a busy income tax filing season. Julie and Michelle stop by Robert's office and give their wage and income statements to Robert for the calendar year 2014. They tell Robert they were legally married in Massachusetts on July 4, 2013, but they are South Carolina residents now and wish to file both a federal and South Carolina income tax return as a married couple. Shortly thereafter, another couple, Mark and Brad, walk into Robert's office and state they were married in South Carolina on ...