Tag Archives: tax debt

With 2012 W-2 forms already at people’s home or in the mail, tax season has arrived. The IRS annually pursues full-scale audits on only about one percent of individual tax returns, according to Kiplinger. However, USA Today reports in 2010 the IRS issued letters alerting 9.2 million individual taxpayers of errors or omissions in returns. And these filing errors can cost you big money in late-filing penalties and interest fees. So, start collecting your documents now and remember to avoid …

Lawyers.com readers may have noticed actress Lindsay Lohan keeps getting into trouble with the law. As reported in today’s Lawyers.com news article, “IRS Seizes Lindsay Lohan’s Bank Accounts,” the actor of tiger’s blood fame, Charlie Sheen, reportedly stepped in to help Lindsay pay her debts. With all of Lindsay’s recent troubles, do you feel the “Freaky Friday” actress is being treated fairly, or are police and law enforcement giving her the “Mean Girls” treatment and selectively picking on Lindsay? Take …

Lindsay Lohan had a rude start to December when she learned that the IRS had seized her bank accounts as part of an effort to collect on $233,904 in back taxes she owes from 2009 and 2010. The news comes on the heels of the dual criminal charges filed against Lohan last week in New York and California for her involvement in a nightclub brawl and in a motor vehicle accident, respectively. The “Mean Girls” actress is already on probation …

Owe Back Taxes? The IRS Might Compromise For consumers facing deep tax debt, there may be a light at the end of the tunnel. The Internal Revenue Service is liberalizing its “Offer in Compromise” program, which will make it vastly easier to reach a settlement with the government if you are unable to pay off all of your tax debt. Find Out More…   While Olympic Athletes Go for Broke, Families Go Broke Earning an Olympic gold medal takes years …

For consumers facing deep tax doo-doo, there may be a light at the end of the tunnel. The Internal Revenue Service announced earlier this year that it was liberalizing its “Offer in Compromise” program, which will make it vastly easier to reach a settlement with the government when a taxpayer is unable to pay off the entire debt. Under the new rules, the IRS will consider Offers in Compromise that account for how much cash a person can come up …