The Ansari Tax Law firm is comprised of attorneys of counsel with strong accounting backgrounds, Masters in Tax Law, and a dedicated focus to structure our clients tax transactions.
Tax Audits: The firm handles matters from the receipt of an initial audit notice through litigation. We have the know how to not only do detailed review your records with the eyes of a CPA but also how to aggressively argue on your behalf as an attorney in front of the U.S. Tax Court, IRS, and Texas Comptroller. Our firm has successfully handled Tax Controversy Matters for clients ranging from small, one owner businesses to global, publicly traded companies and every size in between. As such, by choosing the Ansari Tax Law Firm to represent your company (or your client’s company) in audit, tax, or criminal dispute, you can be rest assured that you have made the right choice.
Interest rate on IRS tax debt
Is there an interest rate on IRS tax debt?
It is a very common and important question asked by our our clients: What is the Interest rate on IRS tax debt?
The answer: The interest rate is the federal short-term rate plus 3%. The federal short-term rate is determined every three months.
If you are on an IRS payment plan / installment agreement, then this issue most likely pertains to you. At present, if you are in an IRS payment plan, your Federal Short Term rate is .41%. Then, add 3% under the IRS rules for interest rate.
For example, if you owe the IRS $60000.00, then you would pay an additional $5345.00 in interest (assuming the interest rates in the paragraph above did not change).
Note: In addition, a 5% interest penalty will accrue on your balance throughout the payment plan.
IRS STATE TAX ATTORNEY HOUSTON
