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IRS Installment Payments

By Peoples Tax | November 21, 2019
Our income tax system is designed to be “pay as you go,” which means that citizens are expected to pay taxes when the income is earned.   Most taxpayers follow the plan and have taxes withheld from their paychecks or make quarterly estimated payments.  Many of these taxpayers have deposited more…
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Innocent Spouse Relief

By Peoples Tax | October 31, 2019
When taxpayers file Married Filing Jointly, they both enjoy all the benefits this filing status allows, but they are also both liable for any tax, interest or penalty that is owed on the tax return.  If taxpayers file jointly and later divorce, they are each legally responsible for the entire…
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Injured Spouse Tax Issue

By Peoples Tax | October 24, 2019
Here’s the scenario: You and your spouse filed Married Filing Jointly on your tax return. You are waiting for your tax refund. Instead, you receive a letter explaining that your refund will be used to pay an outstanding debt.  The refund will be used to pay a past-due debt owed…
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Offer-in-Compromise

By Peoples Tax | October 3, 2019
What is an Offer-in-Compromise? An Offer-in-Compromise (OIC) is an Internal Revenue Service procedure that will enable some taxpayers to settle a tax debt for less than the full amount owed.  This procedure is an appropriate method to settle a taxpayer’s debt when he is unable to pay the total amount…
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Amended Tax Returns

By Peoples Tax | September 19, 2019
What is an amended return? Mistakes happen and tax returns are no exception. Filing an amended tax return corrects information reported previously. This includes making changes to filing status, dependents, or correcting income, credits or deductions. When do I need to complete an amended tax return? If a simple…
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Subway Map of Taxpayer’s Journey Through Tax Preparation

By Peoples Tax | August 2, 2019
Posted in: IRS Press Releases
In a straightforward, plain-talking news release (which is refreshing from the IRS), the Taxpayer Advocate Service (TAS), an independent organization within the IRS that helps taxpayers and protects taxpayer rights, recently released two important items a “subway map” that “illustrates, at a very high level, the stages of a taxpayer’s…
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3 Richmond Locations

West End

Corporate Office/The Forum Office Park

10120 W. Broad St., Suite C
Glen Allen, VA 23060

South of the River

Huguenot Place

1520 Huguenot Rd., Suite 111
Midlothian, VA 23113

Commonwealth Centre

4521 Commonwealth Centre Parkway
Midlothian, VA 23112

More information and Hours