This is a follow up to the earlier question of “can I designate how my tax payments are applied to my tax liability?”
Question:
I would like to make a payment on some back taxes that I owe. I want to make sure it is applied to the taxes and not the penalties or interest. [...]
I recently wrote a two-article series about the importance of designating your tax payments to certain years and the mechanics of “how” to do it. Most people will just go with the flow and allow the IRS to apply their tax payments in whatever ways the IRS chooses to do so, no matter what [...]
Question:
I just got married and have a question about whether my spouse and I should file our next tax return married filing jointly or separately since my spouse has some outstanding tax liability?
Answer:
The answer really has a couple of options, and part of it depends on how much of a hassle you want to put [...]
Since my blog and law practice generally focuses on how to get yourself out of tax problems through an offer in compromise or installment agreement, much of my time is focused on my client’s “tax past” rather than worrying about their future. We always have to determine what happened, why [...]
While this doesn’t apply directly to tax law, or IRS resolution, I read an article tonight by the Associated Press (link) that says the U.S. House of Representatives passed a bill today by a count of 341-73 that would pay off student loans for lawyers in the amount of $10,000 per year with a maximum value [...]
Question:
I would like to make a payment on some back taxes that I owe. I want to make sure it is applied to the taxes and not the penalties or interest. Can I tell the IRS where to apply my payments?
Answer:
As long as you are making a voluntary payment, meaning your bank account [...]