Many people who owe back taxes wonder how far the IRS can go. Some fear that the government might take funds from a retirement plan, such as a 401(k), to cover unpaid debts. These worries can grow when you receive…
Fail to Remit Payroll Tax? Criminal Liabilities May Attach Normally, whenever an employer fails to pay over payroll taxes collected from its employees, the IRS will impose a hefty Trust Fund Recovery Penalty, which may equal the amount of the…
A tax or IRS levy is an administrative action by the IRS under its statutory authority to legally seize property to satisfy a tax debt. This is in contrast to a lien which is a legal claim against property to…
