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How long should I keep my tax returns, records and paperwork?

Although there is no set answer for how long you should keep your tax returns or corresponding paperwork, we recommend that you keep your tax return paperwork and the underlying documents for a minimum of seven years.  If you purchased…

February 16, 2016

Why did the IRS keep my refund?

The IRS can keep or delay your refund for the following reasons: You have unpaid taxes from previous years You have unfiled taxes You are in bankruptcy You are under audit Learn more about why the IRS can keep your refund

February 16, 2016

How long does the IRS have to collect money from me?

The short answer is the IRS has 10 years from when the tax was assessed to collect it from you. While the IRS may not be able to collect from you after that period, the 10-year deadline can be extended…

February 16, 2016

Does the IRS really pay rewards for turning in tax cheaters?

Yes. Under the IRS Whistleblower program, those that turn in tax cheats are eligible for rewards based on the amount of unpaid collected taxes. Learn more about the IRS Whistleblower Program

February 16, 2016

Who can view my IRS file?

Access to your file is supposed to be strictly limited only to IRS personnel working on your case. The IRS has set up protocols specifically designed to prevent IRS employees from “browsing” the tax information of others unless they are…

February 16, 2016

Do I qualify for IRS innocent spouse relief?

Innocent spouse relief provides taxpayers relief from additional tax they owe if a spouse or former spouse failed to report income, reported income improperly or claimed improper deductions or credits. The two different types of innocent spouse relief are Separation…

February 16, 2016

Can the IRS garnish my wages or take my assets?

Yes. If the IRS serves a levy on your bank, they can can seize your entire account up to the amount you owe in unpaid taxes. You have 21 days to obtain a release of levy. Learn more in our…

February 16, 2016

What should I do if  I received an IRS Notice of Deficiency?

An IRS Notice of Deficiency is an extremely important document that should never be disregarded. The Notice of Deficiency is sent by certified mail with return receipt requested. The intent of the Notice is to inform you that you have…

February 16, 2016

How does the IRS come after me individually for Corporate Debt?

When a corporation has certain unpaid federal taxes, the IRS attempts to collect Trust Fund tax, non-Trust Fund tax, penalties and interest from the corporation. If the corporation can’t pay the unpaid taxes or in a timely manner,  the IRS…

February 16, 2016

I received a call from the IRS telling me that I will be arrested in 30 minutes if I don’t pay. What do I do?

This is undoubtedly a scam. If you are being criminally prosecuted by the IRS, the IRS does not call and tell you that you are being prosecuted. These calls are typically made in the evening, long after the IRS has…

February 16, 2016

Chicago Area Tax Attorneys

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Chicago Tax Attorneys

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Elmhurst, IL 60126
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