There may be many reasons why you might find yourself in a "delinquent" tax situation. Maybe you were making tax payments and then lost your job, or had an unexpected crisis or medical emergency. It could be that you filed late and excessive interest fees have been...
Finding Real Life Solutions To Your Tax Problem
Attorney Robert T. Leonard
Los Angeles Tax Law Blog
What voluntary tax compliance means for you
While many people are focusing on preparing for the holiday season, it is worth noting that tax season is just around the corner. It is fairly common for employers to begin sending w-2 notices so that taxpayers can begin filing their income taxes. Indeed, employers...
The wait begins for Trump’s tax plan
For a number of Californians, the notion of Donald Trump winning the presidency was more Hollywood fiction than reality. It now appears that life is imitation art, as Trump has now been elected the 45th President of the United States.While Trump won’t take...
The basics of tax opinions
As we have noted in a few of our posts this fall, October and November are not usually months to discuss tax issues unless you are running for office (or campaigning for a candidate). Nevertheless, staying apprised of tax rulings and getting opinions on transactions...
Would you prefer a larger paycheck or a bigger tax refund?
At the end of October, it is not very common to talk about tax refunds. Let’s face it, more people are concerned about what their kids are going to wear to go trick-or-treating. This apathy about taxes must frustrate financial advisors around this time of...
How you can be held liable for someone else tax bill
In a number of our posts, we have highlighted how people lament the power of the IRS to collect taxes from them. This power is rooted in federal law, and can lead to taxpayers having their wages garnished and property being taken in extreme circumstances. If that is...
Olympic medalists won’t be taxed on cash prizes
Earlier this summer we highlighted the taxes that U.S. Olympic medalists could be subject to because of the U.S. Tax Code. Under federal law, the cash prizes that come with each medal ($25,000 for gold, $15,000 for silver and $10,000 for bronze) would be taxed as they...
Be wary of notices from your tax attorney
There’s a common misconception that taxpayers have about tax professionals (i.e. accountants and tax attorneys) outside of tax season. The assumption is that many tax professionals do not have much to do. Indeed, they may not be insanely busy in September and October...
Private collectors are coming for tax debts. What you should know
It’s not particularly common for taxpayers to think about their tax bill (or their tax refund, for that matter) in late September. However, the Internal Revenue Service is. In fact, the federal government is poised to start collecting on old tax bills, and it is...
Rapper Nelly hit with IRS tax lien
Grammy award winning hip-hop artist Nelly is apparently in the crosshairs of the IRS. The artist known for hits such as "Country Grammar" and "Hot in Here" has been saddled with an IRS lien for more than $2.4 million. Indeed, Nelly (whose real name is Cornell Haynes...