Taxes Archives - Egerton McAfee

I.R.S. Announces New Tax Pro Account

Nov 9, 2021

The I.R.S. announced the launch of the Tax Pro Account. This feature, created with the goal of giving taxpayers increased digital control over representation, allows individuals to authorize requests for Powers of Attorney and Tax Information Authorizations. Tax professionals can log onto the Tax Pro Account and prepare a request – essentially a simplified version of either the Form 2848 for Powers of Attorney or the Form 8821 for Tax Information Authorizations. After submission by the tax practitioner, the request will be sent to the taxpayer’s I.R.S. Online Account. The taxpayer then has the option to review all requests as well as electronically sign by checking the box.

Currently Not Collectible Status – I.R.S. Debt Collection Alternatives

Aug 16, 2021

If you cannot afford to pay the full amount of your tax debt owed to the Internal Revenue Service (“I.R.S.”), there may be collection alternatives available to you. One of these alternatives is having your account with the I.R.S. placed in Currently Not Collectible Status.

Offers in Compromise – Debt Collection Alternatives

Jul 30, 2021

Offers in Compromise – I.R.S. Debt Collection Alternatives If you cannot afford to pay the full amount of your tax...

Installment Agreement – Debt Collection Alternatives

Jul 27, 2021

An Installment Agreement allows you to pay any debt you owe to the I.R.S. over time as opposed to a lump sum payment. To apply for an Installment Agreement, you must file a Form 9465 Installment Agreement Request.

Emergency Rental Assistance Payments

Jul 16, 2021

In response to the COVID-19 pandemic and in furtherance of the goal of keeping families in their homes during this unprecedented time, the Emergency Rental Assistance program was designed to help individuals who are unable to make rental or utilities payments. The United States Treasury has paid out a total of $46.55 billion under two programs (ERA1 and ERA2) to states, territories, and local governments to be utilized for this purpose.