IRS recently announced that it is expanding the penalty waiver for 2018, with relief to certain filers whose 2018 federal income tax withholding and estimated payments was less than their total tax liability for 2018. (See Notice 2019-25 for more details.) It seems the Internal Revenue Service can show a little empathy and cooperation. IRS finally realized the confusion … [Read more...]
Tax Refund Offset – Can The Government Take Your Refund?
Are you looking forward to a big, fat income tax refund when you file your IRS return? Maybe you already have it spent. Imagine your surprise when you get a notice of Tax Refund Offset. Can the government take your refund? Many people are surprised to learn of a number of debts for which the Treasury Department can offset (reduce) a tax refund or other federal payments. In … [Read more...]