Tax Resolution Can Lift Heavy Back-Tax Burden
Consumers and business owners who owe the IRS are entering their most stressful time of the year. But those with serious tax problems do have multiple options for negotiating with the IRS to reduce past due tax penalties and payments.
Americans, carrying more debt than ever, are also more likely than ever to have tax problems. According to information released by the IRS in early 2006, the total of annual uncollected taxes reached close to $290 billion. According to the Internal Revenue Service, the number of levies (a key enforcement tool in which the IRS takes possession of assets to collect on unpaid taxes) reached 2.7 million during fiscal year 2005, a 35 percent increase over 2004 and more than double the number of levies in 2002............
Michigan Association of CPAs
Americans, carrying more debt than ever, are also more likely than ever to have tax problems. According to information released by the IRS in early 2006, the total of annual uncollected taxes reached close to $290 billion. According to the Internal Revenue Service, the number of levies (a key enforcement tool in which the IRS takes possession of assets to collect on unpaid taxes) reached 2.7 million during fiscal year 2005, a 35 percent increase over 2004 and more than double the number of levies in 2002............
Michigan Association of CPAs
posted by Milt Baker CPA | 4:32 PM
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