The following article is verbatim copy of IRS news release IR-2012-23, released on February 16th, 2012: “IR-2012-23, Feb. 16, 2012 WASHINGTON –– The Internal Revenue Service today issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from… Read more
On January 20, 2012, the IRS made two significant changes to its streamlined installment agreement program. First, the dollar threshold increased from $25,000 to $50,000. Second, the timeframe to pay changed from 60 months to 72 months. Basically, any taxpayer with a liability (after principal, penalties, and interest) below $50,000 is eligible for a streamlined… Read more
