Stephanie Taylor Christensen is a freelance writer with more than a decade of experience writing about personal finance and business topics for clients including financial institutions, private firms and the national media.
October 30, 2017By: Stephanie Taylor Christiansen

Identity theft related to tax scams remain a serious issue. While the Internal Revenue Service notes that fraudulent emails and phone calls from imposters who claim to be representatives of the IRS rank highest on the list of current tax-related scams, there are sometimes when the IRS will legitimately contact you. In some cases, an IRS representative may even show up at your doorstep.

September 20, 2017By: Stephanie Taylor Christiansen

The estimated tax penalty is technically called an underpayment penalty. More than ten million taxpayers paid underpayment tax penalties in the 2016 tax year, compared to the 8.9 million who paid them in 2014. That increase may have something to do with the estimated 30% of working-age people the Chicago Tribune reports are now part of the so-called “gig economy.”

The Internal Revenue Service launched a pilot virtual appeals program on August 1, 2017.  This program will potentially allow IRS Appeals Office staff, taxpayers, and their representatives to hold a “face to face” meeting—by way of a secure, web-based video conference.

If you owe the Internal Revenue Service tax money, you may know that some of the penalties for non-payment can become pricey: The IRS can impose additional late or underpayment penalties, and apply interest rate charges on amounts owed until the taxpayer resolves their taxes.  If the IRS fails to collect on the taxes through voluntary action, more extreme collection measures may take place. For example,  garnishment of a person’s wages or even imprisonment.