Not filing is more serious than many people think when it comes to taxes. If the IRS believes that you have not filed in a deliberate attempt to commit tax evasion, you can face criminal charges and even jail time. At Paladini Law, we help people across New Jersey and the United States understand the […]
Federal Income Taxes
The IRS 10-Year Collection Rule: Taxpayer Hope or Hype?
What is the IRS 10-year collection rule, and how could it impact your tax debt? Officially called the Collection Statute Expiration Date (“CSED”), this critical tax law generally limits tax collection efforts to 10 years from the assessment date. But certain events can pause or extend this period. Let’s dive in. Key Takeaways The IRS’s […]
IRS Fresh Start Program: Myth vs. Fact
If you’ve been dealing with overwhelming tax debt, you’ve probably seen or heard ads for the IRS Fresh Start program. The ads likely promise that the program will provide options to pay down or settle the tax debt. But what’s the truth about the IRS Fresh Start process? Keep reading to find out. Understanding the […]
IRS Revenue Officers: Everything You Need to Know
Imagine receiving an unexpected visit from an IRS Revenue Officer at your home or business. It’s a situation that can be overwhelming and intimidating. But fear not! In this comprehensive guide, we’ll explore the world of Revenue Officers and equip you with the knowledge and tools to navigate these encounters. Prepare to dive deep into […]
Tax Court Takeaways: Even Tyga Needs To Make Estimated Tax Payments to Get an Installment Agreement
Background Michael R. Stevenson, aka Tyga, recently sought review in Tax Court of an Intent to Levy Notice issued by the IRS. Tyga timely filed his 2019 federal income tax return but failed to pay the reported liability of $2,166,469. In an effort to collect this liability, the IRS issued a notice of intent to […]
