IRS Tax attorney near Downers Grove

IRS Just Took My Payroll Funds!

By madwire / April 26, 2019

Whoa! This problem is an emergency. It needs a real solution, right now! (Or else employees won’t get paid.) This situation is called an “IRS Bank Levy.” The IRS will use various forms of collection enforcement to collect unpaid federal tax. Initiated by either by an IRS Revenue Officer or IRS’s automated system, a “Notice…

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IRS Uses Private Debt Collection Agencies – Are My Clients Affected?

By madwire / December 23, 2018

Beginning in 2016, the IRS is allowed to assign a person’s tax debt to a private company for collection. Oddly enough, this fairly new law is both tax law and transportation legislation, namely, the Fixing America’s Surface Transportation Act (or FAST). The idea was to facilitate an expedited collection of tax, facilitate tax resolution, and…

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IRS Uses Private Debt Collection Agencies – Are My Clients Affected?

By madwire / December 11, 2018

IRS Uses Private Debt Collection Agencies – Are My Clients Affected? Beginning in 2016, IRS is allowed to assign a person’s tax debt to a private company for collection. Oddly enough, this fairly new law is both tax law and transportation legislation, namely, the “Fixing America’s Surface Transportation Act” (or FAST). The idea was to…

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IRS Audits for Cash Intensive Businesses: Part 1 – Minimum Income Probes

By madwire / October 27, 2018

What does an IRS Revenue Agent look for when auditing a cash-intensive business? The short answer is this: correct gross receipts and reasonable accuracy of deducted expenses. But this article focuses more specifically on how IRS examines for unreported cash. You will want to understand that the IRS tax audit process is not set in…

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Tax Help Due to Hurricane Irma

By madwire / September 22, 2017

Tax Help Due to Hurricane Irma Extensions and Removal of Penalties – Help for Hurricane Victims This article is a little different than those we usually publish. But millions throughout the country were affected by this year’s Hurricanes Harvey and Irma. This time, the Internal Revenue Service took notice. The IRS announced that it would…

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