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New Extended Due Dates for Foreign Bank Account Reports (FBAR)

All U.S. citizens and permanent residents are required to annually file a U.S. income tax return reporting their worldwide income from all sources. Additionally, U.S. citizens and permanent who have an interest in or...more

South Carolina Tax Amnesty for 2017?

The South Carolina General Assembly approved a law in 2015 allowing the South Carolina Department of Revenue to offer an amnesty program to taxpayers in the state who have not filed tax returns and/or owe state taxes....more

IRS Appeals Chief Clarifies New Settlement Conference Rules

The IRS recently announced that as of October it will no longer offer in-person or “face-to-face” settlement conferences with its Appeals Officers, except in a few, very limited circumstances. Settlement discussions will now...more

11/21/2016  /  Income Taxes , IRS , Tax Appeals

What Do All These IRS Collection Letters Mean?

When someone owes the IRS taxes, as a result of not paying the tax shown as due on a tax return or where the IRS audits and imposes additional taxes owed, the IRS will “assess” this tax liability, and with penalties and...more

The End of an Era: IRS Ends In-Person Settlement Conferences

Taxpayers often have disputes with the IRS, whether through an income tax audit or as a result of actions by IRS officials to collect federal taxes. To resolve these disputes administratively within the IRS, the IRS many...more

South Carolina Form 2848, Power of Attorney and Declaration of Representative: Differences Between the State and Federal Forms

South Carolina requires submission of a Form SC2848, Power of Attorney and Declaration of Representative, in order for an attorney, CPA, or enrolled agent to represent a taxpayer administratively before the South Carolina...more

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