Our Voluntary Tax System The U.S. runs under a voluntary tax system. This doesn’t mean “voluntary” in the way that the word “voluntary” is normally used. In fact, it’s quite …

“The failure to pay the collected taxes will frequently, but not always, signal that the business is about to fail.”  Keith Fogg, Professor of Law, Villanova University School of Law, …

This is the third post in a three-part series on what lenders need to understand about IRS levies to foresee risks and mitigate exposure. Be sure to subscribe to the …

This is the second post in a three-part series on what lenders need to understand about IRS levies to foresee risks and mitigate exposure. Be sure to stay tuned for …

This is the first post in a three-part series on what lenders need to understand about IRS levies to foresee risks and mitigate exposure. Stay tuned for the next two …

Myth 1: If no federal tax lien has been filed, my collateral is safe. Your collateral can be seized without notice. Many lenders don’t realize that the IRS doesn’t have …

IRS has some reliable calendar resources for commercial lenders and all businesses to plug into at any time of the year. With the dizzying array of timelines for return and …

This article was originally published in Commercial Factor and focuses on important trends at the IRS.  Knowing these trends you are able to be more proactive with the IRS.   A leg is perceived to be …

If you’re a lender trying to determine whether or not a borrower has an outstanding tax liability to the IRS, you likely search public records to detect if any federal …

The Internal Revenue Service today issued a fraud alert for international financial institutions complying with the Foreign Account Tax Compliance Act (FATCA). Scam artists posing as the IRS have fraudulently …

The IRS and the Treasury Inspector General for Taxpayer Administration (TIGTA) are continuing to warn taxpayers of the ongoing phone scam that has netted over an astounding $1 million. While …

In a previous blog post we looked at the Notice of Federal Tax Lien as a historical artifact. But we might also say that it is an endangered species. According …