Tax Law Blog | IRS Tax Attorneys

(1) IRS assessments can be fixed by filing a tax return. Sometimes the IRS will take an educated guess about what your tax liability might be. The IRS will then send you a notice of proposed assessment, or even file a return on your behalf. You can reduce or eliminate the IRS proposed assessments by filing your back tax returns.

(2) There are strict time limits for getting a refund, for collecting on tax debts, and for auditing your tax returns. You need to know these IRS Statute of Limitations, because they have a direct impact on your tax filing strategy.

(3) The IRS has the authority to impose penalties and interest on tax liabilities not paid in full by the deadline for the tax return. You need to know how IRS penalties and interest are calculated, and what you can do to minimize them.

(4) Your tax information is absolutely, totally, and completely confidential. A tax professional is ethically and legally obligated not to share your tax information with anyone – not even with the IRS – unless he or she has your explicit authorization.
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No, there is not a space missing between Fair and Tax. FairTax is how Rep. John Linder (R-Georgia, 7th), sponsor of the Fair Tax Act of 2003 has chosen to market his innovative tax reform legislation.

“Momentum behind the FairTax continues to build,” said Linder. “Not only do my colleagues recognize the harm done to the American people by the overly intrusive and burdensome income tax code, their constituents recognize it every April 15th.”

To Rep. Linder, “momentum” means his Fair Tax Act has gained the support of several other lawmakers — now including powerful House Majority Leader Tom DeLay (R-Texas, 22nd).

“The bill now has 21 co-sponsors – more than any other fundamental tax reform legislation in the House – and they represent a bipartisan coalition of members from across the nation,” said Linder.
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