What is a Bank Levy?
4th Quarter Estimated Tax Payment Deadline Approaching!
Tax Dates and Deadlines for 2021
IRS Audit Penalties
How Far Back Can IRS Audit an Individual?
Closed Case Round Up October 2020
What income must be exempt from Garnishment?
What is The Interest Rate on IRS Installment agreements?
Can you have 2 installment agreements with the IRS?
Closed Case Round Up: August 2020
September Tax Deadline Approaching!
How Your Business Can Pay Less Cannabis Taxes
A Cannabis Tax Preparation Guide for Business Owners
Why Hasn’t Your Tax Refund Been Processed by the IRS?
Closed Case Round Up: July 2020
The Benefits of a Tax Resolution Attorney for Your Cannabis Business
Why You Should Hire a Kansas Tax Attorney for Your Marijuana Business
July 15th, The New Tax Deadline
Closed Case Round Up May 2020
How Does the IRS Calculate Your Ability to Pay?
Why is the IRS “Sleeping” on Collections? The Answer Might Scare You
Why NOW Is the Best Time To Settle Your Tax Debt!
Estimating Medical Marijuana Tax: A Guide for Cannabis Businesses
Why Should Your Business Apply For COVID-19 Relief Loans
Closed Case Round Up: March 2020
Can’t Pay Taxes: 4 Options Cannabis Companies Should Know
Polston Tax Testimonials: How We Helped Our Client End His Tax Troubles
The Most Common Tax Return Mistakes
Polston Tax Case Study: How We Helped Our Client Overcome $58,000 in Tax Debt
How to Structure Your Marijuana Business: Incorporation vs. LLC
Who’s Next? 8 States That May Legalize Marijuana in 2020
Should You Hire a Marijuana Lawyer for Cannabis Tax Audits?
Cannabis Tax Season: How to File Marijuana Taxes
Closed Case Round-Up: February 2020
HSBC In Hot Water Over U.S. Tax Evasion
IRS Plans to Step Up Cryptocurrency Enforcement
Where Does the Tax Money Go for Nevada Recreational Weed?
Polston Tax’s Top Closed Cases of 2019
Closed Case Round-Up: January 2020
The Tax Implications of Owning a Dispensary
Marijuana Banking 101: How to Manage Your Money in the Cannabis Business
The IRS is Visiting More Businesses to Investigate Tax Issues
Closed Case Round Up-December 2019
Can You Stop an IRS Bank Levy?
Understanding the IRS Offer in Compromise Program
How did CHAMP v. Commissioner Change Things for Cannabis Businesses?
IRS Increases Retirement Contributions for 2020
Here’s How Having Check Signing Authority Got One Accountant Into Tax Trouble
Closed Case Round Up: November 2019
Celebrity Tax Trouble November: Real Housewives Star Hit with Tax Liens
Starting a Marijuana Business: 7 Tax-Related Things to Consider
280E Tax Code: Everything Cannabis Entrepreneurs Should Know
How You Can Pay Your Tax Debt Through a Monthly Payment Plan
What Tax Court Cases Have Taught Us: Felton v. Commissioner
Can’t Afford Tax Payments? You Might Qualify for Currently Not Collectible
Closed Case Round Up October 2019
How Can A Partial Payment Installment Agreement Save You Money
Getting Audited? Here are Some Things to Keep In Mind
Common Accounting Problems That Cannabis Businesses Face
When to Hire a Small Business Accountant for Your Cannabis Company
Tax Brackets: Do You Really Know How You’re Taxed?
Closed Case Round-Up: September 2019
Types Of IRS Tax Debt Resolutions
Tax Return Deadline Approaching!
How Your Summer Activities Could Affect Your Taxes!
Scholarships & Taxes
What Does A Cannabis Bookkeeper Do?
What Is Cannabis Tax?
How Long Should You Keep Financial Records?
What Does Owning a Second Home Mean For Your Taxes?
Closed Case Round-Up
IRS Warns Taxpayers About Two New Tax Scams
Celebrity Tax Trouble
Do you need to do a Paycheck Checkup?
Audit Rates Drop for 2018
Visiting The IRS Office
Closed Case Round Up: July 2019
IRS Announces New Health Saving Contribution Limits
Closed Case Round Up: June 2019
Closed Case Round Up: May 2019
Closed Case Round Up: April 2019
Can You Still Deduct Meal Expenses?
IRS Tax Refunds: The Truth About When You’ll get Your Tax Refund
Don’t Rush Filing Your 2018 Tax Return, File an Extension
File Your Return Now and Avoid IRS Penalties
College Admissions Scandal Could Turn Into Tax Trouble for Parents
Closed Case Round Up March 2019
Cristiano Ronaldo Reportedly Reaches Deal in Tax Evasion Case
Tax Refund Increased for 2019 Filers
Self-Employment and Your Taxes
IRS Sees Drop in Amount of Tax Refunds Issued
Closed Case Round Up: February 2019
Shakira Charged with Tax Evasion
Celebrity Tax Trouble February Edition
Questions You Should Ask Your Tax Attorney Before You Hire Them
What Counts as a Medical Expense Deduction?
The U.S. Tax Court Takes On Cannabis Businesses
Why You Should File Your 2018 Tax Return Early
There are several options available for people who owe taxes to the IRS or State to settle their tax debts. However, time is not your friend. The longer you wait, the less options you have. Click here to learn more
Be weary of tax resolution firms promising “pennies on the dollar” results. There is an option for a settlement called an “Offer in Compromise”. We get them approved for clients regularly, but it’s hard to negotiate on your own. Read more here to see if you might qualify for this type of resolution.
The good news is, the IRS does occasionally remove penalties and interest for people who qualify. Although the process can be complex, it can lead to big savings for those who are approved! Watch our educational video about Penalty Abatements here!
The IRS uses mail as their main form of communication if you owe taxes. Sometimes it can seem like you receive a letter every day! This can be intimidating and confusing. The most important thing to remember is if there’s a deadline to respond, make sure you meet that deadline! If you don’t, collection action could be taken against you. If you’re not comfortable with your ability to respond appropriately, make sure to seek help from a professional. To learn more about receiving IRS letters and what to do, click here.
Unfortunately, the answer to this question is “yes”. They can and they often do! If you owe taxes, the IRS can levy your bank account, take your paycheck, your social security, and other types of income. To learn more about what the IRS can take, click here.
While claiming children is most common, you can also claim relatives who qualify! There are restrictions, however. A few of these include your relative making less than $4,150/year, you must be providing at least half of their financial income, and no one else can claim them as a dependent. To see the full list of restrictions, check out our blog on claiming dependents.
The short answer is, “yes”. Not filing your tax returns is criminal and can lead to jail time if the government decides to pursue that type of action. That’s why even if you can’t pay what you owe in taxes, we still suggest you file your returns timely each year. If your returns are legally and correctly filed and you just can’t pay, there are more options for resolutions that don’t include jail time. Not all resolutions are created equal, however, and it’s often hard to prove you qualify for relief. If you’re struggling to file your returns or to pay what you owe, let us know. We can help!
A Revenue Officer is an IRS civil enforcement employee specifically assigned to YOUR case to pursue collection action against you. If you have a Revenue Officer, you can expect a much more aggressive pursuit in collecting your back tax debt. If you have an Revenue Officer, consider hiring help to make sure your rights are protected against the IRS.