Penalties

IRS and car

Can the IRS Take My Car?

Yes. Asset seizure is one of the strongest tools for collection efforts available to the IRS. From seizing a home, bank accounts, retirement accounts or personal property, the IRS operates with a singular focus – to liquidate these assets and pay your debt. What protections are available to you? While the IRS certainly has the …

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noncompliance with the ACA and IRS penalties

Noncompliance With the ACA and IRS Penalties

On behalf of Silver Tax Group posted in Back Taxes on Wednesday, May 9, 2018. The Affordable Care Act (ACA) creates a number of difficulties for employers concerning compliance. And those not in compliance face significant penalties leveled upon them by the IRS. According to the ACA, employers must either provide full-time employees health care coverage or make what is known …

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when tax penalties and audits happen

Tax Penalties and Audits

On behalf of Silver Tax Group posted in IRS Tax Audits on Wednesday, December 6, 2017. Michigan taxpayers face tax audits from the IRS for a number of reasons. And as the consequences of a tax audit can be severe, it is important to understand the reasons why audits occur. An audit may be the result of someone ignoring …

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underreporting taxes and penalties

Penalties due to Underreporting of Estimated Taxes

On behalf of Silver Tax Group posted in Back Taxes on Thursday, August 24, 2017. Most tax reporting that does not comply with IRS regulations will result in penalties. Yet because there are so many forms to fill out and procedures to follow, Michigan taxpayers may not even understand the requirements to follow. Penalties to underreporting In recent years, …

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