The IRS has a vast arsenal of tools to use when collecting taxes. It has a tool, however, that it can use to cut its losses, so to speak, in a case when full collection from a taxpayer is doubtful: the offer in compromise, sometimes referred to as an OIC. If […]
View this video here LAWRENCE BROWN: Federal asset forfeiture refers to the federal government’s ability to take and then after jumping through certain procedural hoops keep assets that are the fruit of illegal activity or that were used to commit a crime. Businesses, individuals, and financial institutions have the obligation […]
LAWRENCE BROWN: At Brown, PC we handle civil tax controversies and litigation. LAWRENCE BROWN: Planning, tax planning, business planning, asset protection, criminal tax matters and white collar defense. I’m listed on the Martindale-Hubbell Directory or Preeminent Attorneys. And prior to starting this firm in 1992 was a Trial Attorney with […]
This week brought the Trump administration’s one-page opening salvo in what is likely to be contentious debate over reform of federal tax system. A key part of the proposal is to reduce business taxes from 35 percent to 15 percent – even for small, unincorporated business whose owners pay taxes […]
In spite of repeated instances of tax debt collection scams – some of them serious enough to warrant specific warnings from the IRS – the agency has once again chosen to outsource tax collection efforts to private debt collectors. This means that, in theory, the phone calls and letters you […]
More than 30 years have passed since Congress passed reform of the federal tax code in President Reagan’s second term. The question of whether such reform can happen this year, during President Trump’s first term, will be getting plenty of attention in the coming days. Somewhat beneath the radar, however, […]
Withholding income and employment taxes and paying them over to the federal government is a significant burden for employers. That is why many employers choose to outsource the administration of those tasks to a third-party. Even if your company outsources its payroll services, however, the IRS may try to hold […]
Brown, PC’s founding attorney, Lawrence Brown, was recently quoted in an article discussing how to deal with the IRS on past due taxes . Mr. Brown’s expertise in the areas of tax litigation, IRS collections and tax controversy is immense making him one of the most sought after tax lawyers […]
Every year, millions of people don’t file required income tax returns. If you haven’t filed, you therefore have plenty of company. But it’s important to be aware of the potential consequences for non-filing. One such consequence is stiff civil penalties for failure to file. Another possible consequence of not filing […]
The IRS aggressively assesses the TFRP against businesses and responsible persons for willful failure to meet withholding responsibilities. The Trust Fund Recovery Penalty or TFRP is a potentially expensive civil penalty the IRS may assess against an employer or an affiliated responsible person for willful failure to properly withhold from […]