Dealing with the Internal Revenue Service (IRS) can be daunting, especially when it comes to unpaid taxes. If you owe back taxes, you might face severe consequences, including a tax levy. A tax levy ...

hen an IRS audit identifies deficiencies in a tax return, the taxpayer may be asked to sign a closing agreement. There are two types of closing agreements. The first—contained on Form 866, Agreement ...

Not surprisingly, a lot of Americans aren’t fond of the IRS. In fact, as the agency responsible for collecting federal taxes, the IRS received the lowest favorability rating among 16 federal agencies ...

Although paying a tax levy can exclude early IRA withdrawals from an otherwise applicable 10% penalty, a notice of intent to levy does not have the same effect, the Tax Court held. If a taxpayer is ...

A survey by IPX1031 shows that 31% of U.S. adults procrastinate during tax season. This increases their odds of facing enforcement actions from the IRS. Neglecting to report or pay punctually will not ...