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Tax Debt and Bankruptcy Blog

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By Michael S. Anderson of Anderson Tax Law logo for Arizona tax attorney Michael S. Anderson P.C.
  • Self Employed? Pay your estimated taxes monthly

    The Robert Burns poem To a Mouse, written in 1786, is an apology.  The story has it that Mr. Burns upended a mouse’s home while plowing a field and felt bad about it.  To make amends, he wrote a poem, the most famous portion of which reads: But little Mouse, you are not alone, In proving…

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  • No the IRS Fresh Start Program Doesn’t Include Penalty Abatement – Sorry

    Almost every person who contacts me asks about getting rid of IRS penalties.  There are two reasons I think this happens: 1.  Many Americans believe in paying debt and see tax as a debt.  But they regard penalties as just unwarranted punishment. 2.  Many people have been falsely led to believe the IRS’s Fresh Start Program…

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  • I haven’t filed my tax return for 2012 yet, am I going to get an IRS penalty?

    If you haven’t filed a 2012 return yet and you didn’t ask for an extension to file, you need to file it as soon as possible.  The IRS gets to add interest and penalty to your debt for each month un-filed and for each month unpaid and it adds up fast. The penalty for filing…

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  • Tax Debt – Why can’t I pay the original balance and receive a waiver of the penalty and interest?

    Tax Debt versus penalty and interest A common  question my clients ask is “why won’t the IRS just accept a check for the original tax amount and waive all the penalty and interest”. This question makes alot of sense and in the real world most creditors will consider making a deal that pays the original…

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  • Penalty abatement request – how to and what you can do if it is rejected

    Penalty Abatement – Reducing IRS Penalty The key point in relation to penalty abatement requests and the IRS is that if you don’t ask you won’t get.  The following is a short review of the “asking” process. If an IRS penalty is sent to you via the IRS mailed notice system, it is wise to…

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  • IRS penalty abatement and “reasonable cause” – what does that mean?

    “Reasonable Cause”…could there be a more vague phrase? It makes sense than that this is the standard used by the IRS to determine whether a penalty should be forgiven or “abated”. It leaves some wiggle room. Ridding yourself of an IRS penalty is all about this vague “reasonable cause” standard and the taxpayer has to…

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  • What are the most common IRS penalties and how do I get rid of them?

    IRS Penalties are a fact of life unfortunately.  They are a revenue “stream” for the IRS and not one that it will give up easily. When the IRS sends you a bill from the negative results of an audit, it will add a penalty or two to the bill. Interest is also conveniently attached to…

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