For most taxpayers, the statute of limitations provides a sense of closure after filing a return. Once a certain number of years pass, many assume the IRS can no longer revisit those filings. However, a recent federal appeals court decision — and the Supreme Court’s decision not to review it — has complicated that assumption in cases […]
IRS Interest Rates Rise for Q3 2026: What Taxpayers Need to Know
The Internal Revenue Service (IRS) has announced that interest rates will increase for the third quarter of 2026, beginning July 1. These rates, which remain in effect through September 30, 2026, impact taxpayers with outstanding tax balances as well as those eligible to receive interest on delayed refunds. Understanding the latest IRS interest rates can […]
FBAR vs. FATCA: What’s the Difference?
If you have money in foreign bank accounts or own certain foreign financial assets, you may have additional U.S. reporting obligations beyond filing your annual tax return. Two of the most commonly confused requirements are the Report of Foreign Bank and Financial Accounts (FBAR) and the Foreign Account Tax Compliance Act (FATCA). Although they share a common goal of […]
How a Tax Lawyer Negotiates With the IRS
Receiving an IRS notice or accumulating tax debt can quickly become overwhelming, especially when penalties, interest, and collection actions begin to stack up. In many cases, taxpayers are unsure whether they can resolve the issue on their own or if professional representation is needed. Understanding how a tax lawyer negotiates with the IRS is important because the […]
Retirement Tax Planning Basics for Seniors
Retirement is often seen as a time to enjoy the rewards of decades of hard work, but taxes do not disappear when your career ends. Many retirees receive income from multiple sources, including Social Security, retirement accounts, pensions, and investments. Because each type of income may be taxed differently, understanding how taxes work in retirement is […]