Business tax returns for 2015 start this week, as the IRS begins the 2016 tax filing season. But if you were waiting for personal income tax returns, state officials will handle this matter only after the 19th of January.
However, the Internal Revenue System has not started this year on exactly the right foot, as their sent letters have shown a rather peculiar problem. These letters contain taxpayers’ PIN numbers which provide a higher degree of protection towards fraudulent tax returns and identity theft. But the ones sent by the IRS were linked to the year of 2014 instead of 2015.
The IRS has stated that the PIN numbers will still function normally, even though the year has been mismatched. The system spokespersons have also issued a formal apology on the IRS official website.
In order to have a higher degree of certainty towards receiving all possible funds, the general public has been advised to process their tax filings electronically. This method will provide a higher speed in regards to claims’ processing speeds, allowing users to benefit from their tax returns at an earlier date in comparison to traditional filing methods.
With the start of this tax filing season, people that might have years of unfiled tax returns might become slightly overwhelmed. The reason for this is the fact that not filing your tax returns willingly is considered a misdemeanor by the IRS and can even be pursued in the court of law. Fortunately, most cases that involve unfiled taxes are not considered to be criminal matters.
If one would find himself in the aforementioned situation, the first step towards resolving this problem is contacting a tax attorney. He will then contact the IRS and explain the situation, and the problem will be resolved if the person that failed to file the returns takes a proactive approach and cooperates fully with the attorney and the IRS.
In the case that your bank account has been levied by the IRS, the best way to take on this matter is to resolve the tax problem within 21 days. Until that point, all of your accounts, be they savings accounts, checking accounts, money market accounts and so on, will have funds missing from them equal to your tax debt. The transaction will complete only after the 21 day period, so until then, be sure to solve the matter if you don’t want your accounts to completely lose the amount of debt you currently have.
If you opt to call the IRS yourself, you must keep in mind a few factors. The most important one is the fact that the IRS personnel you will talk to is not there to serve your interest in any way, it is there to serve the government. Because of this, these people will not tell you about various methods of saving money or reducing your tax debt. If you do intend to make a deal with the IRS, keep in mind that it will be directly linked to the Internal Revenue Collection Manual, altering it according to your personal specific facts confirming to tax laws.
Keeping in mind the fact that the IRS begins the 2016 tax filing season, the general public is advised to resolve their matters concerning tax debts and income taxes as quickly as possible. By doing this, all the problems that might surface from tax filings will become non-existent, especially if you hire a tax attorney to help you with the situation at hand.