Tax Problems Are Not Easy To Deal With, Be Prepared, Do Your Research

Problems of income tax

Taxes have been used for hundreds of years. Prior to 1776, the American Colonies were liable to taxation by the United Kingdom. In 1787, the United States Constitution authorized the government to collect taxes and required some types of tax revenues to be given to the states, proportionate to population. Soda drinks are now being taxed in some areas. In Chicago, soda drinks are taxed at 3 percent if it comes in a bottle or can, and at 9 percent if it is a fountain soda drink.

To help with IRS tax problems of today, there is the OIC or Offers in Compromise. Offers in Compromise allows the taxpayer to repay as much debt as they can in five to twenty four months, and in return the IRS will write off the individuals outstanding Internal Revenue Service liabilities.

Problems with income taxes are a very common problem in the United States. The most feared weapon to someone who is in serious debt to the Internal Revenue Service is the tax levy. A tax levy is action by the Internal Revenue Service, under statutory authority, to seize property to satisfy a tax debt. The Internal Revenue Service can impose a levy on bank accounts, wages, personal residence, social security benefits, and real property. The Fifth Amendment of the United States Constitution forbids the federal and state government from taking the property of an individual without due process. This applies to tax levies.

To find out more about Internal Revenue Service tax problems, you can do an online search for “problems with income taxes”, “help with tax problems“, “income tax problems and detailed solutions” or “IRS problems”. Good references here.

18 thoughts on “Tax Problems Are Not Easy To Deal With, Be Prepared, Do Your Research

Leave a Reply