Author Archives: Jay Butchko
Assets Exempt from Tax Levies in Florida
The Internal Revenue Service (IRS) is notorious for using aggressive tactics to collect from debtors. For instance, the IRS often uses levies to collect from tax defaulters, which means that they essentially seize the taxpayer’s property. However, there are some assets on which the IRS cannot place a levy, so if you owe back… Read More »
The IRS Offshore Voluntary Disclosure Program
In 2009, the Internal Revenue Service (IRS) introduced a plan known as the Offshore Voluntary Disclosure Program (OVDP), which provides certain benefits to taxpayers who have undisclosed offshore accounts or assets. Under the terms of the program, taxpayers are encouraged to disclose foreign accounts and so avoid both criminal and civil prosecution. Applying for… Read More »
IRS Announces New Debt Collection Program
Recently, the Internal Revenue Service (IRS), announced that it will begin allowing private contractors to collect overdue federal tax debts starting in the spring of 2017. However, as a condition of receiving the contract, these agencies are required to respect taxpayer rights, including the protections offered by the Fair Debt Collection Practices Act. The… Read More »
Traveling Abroad With Tax Debt
Last year, Congress passed a new bill, H.R. 22, which limits a taxpayer’s ability to travel if he or she owes a certain amount of tax debt. This law could have a significant impact on a person’s business and personal life, so if you or a loved one owe a tax debt and need… Read More »
Removing a Tax Lien
When an individual owes back taxes, the Internal Revenue Service (IRS) can use a variety of methods to collect the funds, including tax liens. Tax liens can take a significant financial toll on a taxpayer who is attempting to repay a debt, so if the IRS has placed a tax lien on your assets,… Read More »
IRS Audits
In an effort to verify the accuracy of tax returns and compliance with legal requirements, the Internal Revenue Service (IRS) often performs audits on previously filed tax returns. Audits do not always lead to penalties, additional payments, or legal action, but if you recently received an audit notice from the IRS, it is still… Read More »
Reducing Tax Debt with Penalty Abatement
Owing back taxes to the Internal Revenue Service (IRS) can take a significant financial and emotional toll on taxpayers and their families, especially if the IRS begins garnishing wages or imposing levies. Fortunately, there are options available, such as penalty abatement, that can help taxpayers manage their debt. Only qualified individuals can apply for… Read More »
Filing for Separation of Liability Relief
Many couples choose to file their taxes jointly and while this carries many benefits, there are also certain risks involved. For example, even if the couple eventually obtains a divorce, both spouses will be held liable for any additional taxes, interest, or penalties. Fortunately, there are some exemptions that can give a former spouse… Read More »
Challenging Property Taxes in Florida
Every November, Florida homeowners are required to pay a property tax, which is largely determined based on the value of each taxpayer’s home. Unfortunately, these calculations are not always accurate, causing the taxpayer to pay more than is fair. If you have reason to believe that your property taxes were calculated improperly, it is… Read More »
Filing For Innocent Spouse Relief
It is a common practice for married couples to file joint tax returns, primarily because filing jointly provides certain benefits. However, by filing together, both individuals risk later being held legally responsible for the entire amount even if the couple goes through a divorce or if one spouse earned most of the income. Fortunately,… Read More »
