Have a Tax Issue With the IRS? You Could Always Take Them to Court
What would you do if the IRS makes a decision you don’t agree with? For example, let’s say you file a tax return and send it in expecting to receive a refund of $1,500. However, a few weeks later, instead of receiving your refund, you get a letter in the mail informing you that you made a mistake and you will only be receiving $1,100. You’d be upset for sure, but most people probably figure there’s nothing they can do about it.
Actually, that’s not the case. Did you know that if you disagree with the IRS on your return you could ask them to change their decision? That sounds like a futile move, right? Why would they change their mind? There is another option, though. If you really feel that you have been treated unjustly you can take the IRS to the United States tax Court. That doesn’t sound very fun, either, but it is an option.
The good news is that the U.S. Tax Court is not affiliated with the IRS. That means the IRS is in the same boat as you if your case goes to trial. There are several reasons that people decide to challenge the IRS in court, which include:
- The IRS assess a deficiency
- An abatement request
- Request relief from a joint return
- Disagreements on worker classification
- Summons enforcement
- Gross income
- Accuracy-related penalty
While most people would rather not spend any more time dealing with the IRS than they have to, if you do feel you have been treated unfairly by the tax agency, then you don’t have to just sit back and take it.
Corporate America Is Buying Back Stocks at Record-Setting Pace
Corporate America Is Buying Back Stocks at Record-Setting Pace If you don’t follow the stock market closely then you may have missed an ongoing trend this year. Corporate America is buying back stocks at a massive rate. In fact, these buybacks are happening at a record-setting pace. So how big are the numbers, exactly? They’re…
Simple Steps to Building a Culture Of Direct Communication
Simple Steps to Building a Culture Of Direct Communication How’s the communication culture where you work? Is there open and direct communication? Do employees feel like they can speak with their bosses freely? Are supervisors easily accessible and willing to listen? Or, does it feel like you never know exactly what is going on, or…
How to Take Your Small Business to the Next Level
How to Take Your Small Business to the Next Level Are you looking for ways to give your small business a boost? Do you want your small business to shed its “small” description? Owning and running a small business has several challenges. In many cases, you have to wear multiple hats and do most of…
Are You Prepared to Avoid the AMT Under the New Tax Law?
Are You Prepared to Avoid the AMT Under the New Tax Law? The Tax Cuts and Jobs Act (TCJA) changed a lot of things. But unfortunately, it didn’t eliminate the dreaded Alternative Minimum Tax (AMT). The TCJA did change some of the AMT rules and it reduced the odds that you will qualify for the…