William Freudenthal owed the IRS some money. Quite a bit of money, actually – just over $16,000. And Freudenthal hadn’t been exactly timely about paying his tax obligation. He’d ignored notice after notice from the IRS. Finally, the IRS took action. They were going to seize some of Freudenthal’s assets – namely his classic 1965 [...]

These days it seems as if you can’t turn on the television, flip open the newspaper, or surf the web without running into an advertisement for bankruptcy lawyers. For people in tough financial circumstances, bankruptcy can seem like a magical solution for all of your financial problems. Advertisements tout the marvel of having all of [...]

“My dad has always done my taxes,” Elaine R., a Boston resident, said. “Ever since I was sixteen years old and had my first job. But last year, something happened. I don’t even know what. But the IRS is sending me all of these notices about an adjusted return and how I have to send [...]

Earlier this week, PunxsutawneyPhil – thought by many to be the Groundhog In The Know – let the world know to expect an early spring. Meanwhile, a massive storm unloaded snow, ice, and freezing rain over much of the country. More snow is expected to arrive this weekend. Maybe Phil’s story is just too good [...]

Reading this article can leave the typical taxpayer feeling a little nervous. If you’ve already had trouble with the IRS, or are currently trying to resolve tax problems, that article, which charts the dramatic increase in IRS tax liens, might make you very nervous indeed! The IRS Is Stepping Up Tax Enforcement Efforts Earlier this [...]

Audit Appeals Once you receive the results of an IRS audit – which generally includes a large bill that you have to pay – you have three options.  You can pay the bill, request an informal review with the auditor’s group manager, or file a formal request for appeal. If you went through the initial [...]

It’s that time of year again, when newspapers and websites are full of information about what you need to do to get ready for the upcoming tax season.  There’s lots of websites that offer free tax preparation, agencies that coordinate volunteer tax preparers and do-it-yourself guides that promise to reduce even the most complex return [...]

New Mexico Governor Bill Richardson has just announced that he will not pardon Billy the Kid, citing a lack of conclusiveness and historical ambiguity surrounding the pardon allegedly promised to Billy by then governor Lee Wallace.   The value of a pardon to Billy is of some question, as he has been dead for quite a [...]

The New Year starts next weekend.  That means it’s time to ask yourself, “Have I had enough? Am I tired of screening calls so I don’t have to talk to the IRS? Am I tired of being afraid to check the mail? Am I tired of my employer getting embarrassing phone calls about my financial [...]

Video game developer David Rushton is going to spend six months in jail for tax evasion.  This is certainly quite a change in Rushton’s circumstances: he’d been a successful video game developer, working on Street Fighter II: Hyper Fighting, Tiger Woods PGA Tour 2005, and other well regarded titles. What went wrong? David Rushton started [...]