IRS tax liens can be broken down into two categories: (1) unfiled liens and (2) filed liens. Unfiled IRS Tax Liens Unfiled IRS liens are also known as secret liens or general tax liens. They are authorized under 26 U.S.C. section 6321. They’re secret because they arise automatically once you owe money to the IRS, […]
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Nine Things to Know About the House’s Tax Plan
House Republicans recently passed a bill that would significantly change the tax code. Here are some of the major changes: 1. Tax Relief for the Middle Class…Maybe. The bill doubles the standard deduction, to $12,200 from $6,350 for single filers, and to $24,400 from $12,700 for married couples. Sounds great, right? But the bill eliminates […]
IRS Interest Rate Stays at Four Percent
Tax Attorney Serving the State of New Jersey Including Bergen County The Internal Revenue Service recently announced the interest rate for the fourth quarter of 2017 for underpayments will remain at 4%. The IRS interest rate changes every quarter. The IRS interest rate is based on federal short-term rate plus 3 percentage points. In the […]
