When filing a joint tax return, married taxpayers are often privy to certain tax benefits. Generally, married taxpayers take advantage of a higher standard deduction and a lower tax rate when filing their taxes together. However, as a result of a joint filing, both taxpayers are equally responsible for the possible liability that comes with joint filing status. But what if one spouse wasn’t exactly honest about their income when filing the tax return, and the other spouse didn’t know? By requesting Innocent Spouse Relief, a spouse can be relieved of the responsibility for paying tax, interest, and penalties if the...

Two of the most common payment options for delinquent tax debts are installment agreements and offers in compromise. Let’s discuss theses options below, along with the key considerations for choosing which route might be best in a taxpayer’s particular case. If you owe the IRS, and are considering how to pay off the debt, contact The Wilson Firm. We have both the experience and expertise to make the right decision.IRS Installment Agreement:An installment agreement allows taxpayers the opportunity to pay their debts in smaller, more manageable amounts. Installment agreements typically consist of equal monthly payments. The number of monthly installments and...

The Collection Statute Expiration Date, often referred to as the “CSED”, is the maximum time period the IRS will look back to collect unpaid taxes. Similar to a statute of limitation, where anything beyond that date is off-limits, the CSED is 10 years from the date the tax was originally assessed. For example, if you filed a tax return for the 2018 tax year on or before April 15, 2019 and owed tax with that return, those taxes were deemed to have been assessed on April 15, 2020. The CSED date on any unpaid amounts would be April 15, 2029.During that...

Last month, a few tax-related measures were slipped into H.R. 22, known as the "Fixing America's Surface Transportation Act." These provisions could add some significant teeth to the IRS' ability to collect past-due tax debts at a time when budget shortfalls have limited the agency's ability to do so efficiently. They include the addition of a new section to the Internal Revenue Code, I.R.C. § 7345, which authorizes the Treasury Secretary to certify that a taxpayer has a "seriously delinquent tax debt." A "seriously delinquent tax debt" is defined as a federal tax liability which been assessed and is greater than...