Posts Tagged "taxpayer"

IRS posts “Taxpayer Bill of Rights”

Posted on Jul 25, 2014

The IRS has just issued a “Taxpayer Bill of Rights” that you should be aware of. The Rights are divided into ten main categories. According to this “cornerstone” document you have The Right: * to be informed * to quality service * to pay no more than the correct amount of tax * to challenge the IRS’s position and be heard * to appeal an IRS decision in an independent forum * to finality * to privacy * to confidentiality * to retain representation * to a fair and just tax system Gilliland & Associates, PC is a full-service CPA firm specializing in tax planning for individuals and businesses in the Northern Virginia area. We are based in Falls Church, VA and also service clients in the McLean and Tysons Corner, VA. Gilliland & Associates specializes known for our superior knowledge and aggressive interpretation and application of tax laws, we help you keep more of your earnings by finding you the lowest possible tax on your business or personal tax return. You can connect with us on Google+ <> , LinkedIn <> , Facebook <> , and Twitter...

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Tweet shorts

Posted on Oct 2, 2012

* October 15 is the final filing deadline for extended 2011 individual income tax returns.  * October 15 is the deadline for undoing a 2011 conversion of a regular IRA to a Roth IRA without penalty.  * The Congressional Research Service reports that 34 million taxpayers could be hit by the alternative minimum tax this year.  * Time is running out for using your 2012 annual gift tax exclusion. You can give up to $13,000 per individual without paying any gift tax.  * The most fundamental year-end move to cut your taxes is to adjust the timing of income and deductions. See us for...

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IRS raises threshold for imposing tax liens

Posted on May 10, 2011

The IRS recently announced that it will moderate its use of tax liens to collect back taxes. A federal tax lien gives the IRS a claim on a delinquent taxpayer’s property for unpaid taxes. This change means the IRS won’t use a tax lien unless at least $10,000 in back taxes is owed; the previous threshold had been $5,000. In addition, the IRS says it will “withdraw” more tax liens once the back taxes have been paid. A withdrawal removes the lien from the taxpayer’s credit record, whereas a lien “release” as previously used left the lien on the credit record for at least seven...

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