Your IRS tax liability is defined as the amount of money which is owed to the federal government on sources of income which you have received over the past fiscal year. In simpler terms, federal income tax liability is the amount of tax which you will owe the federal government if you receive a level of income which comes above a stated amount. All of the applicable laws which regard the definition of tax liability are regulated and mandated by the Internal Revenue Service (IRS). The amount of your federal income tax liability can be adjusted through various methods if you are an individual tax payer, but not by companies or corporations.
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If you find yourself in doubt as to the status or specific amount of your tax liability as defined by the IRS, you will be well advised to hire a qualified tax attorney who will be able to guide you through this difficult period. The IRS has recently announced several new programs and policies which are designed to enable tax payers who find themselves in debt to quickly and efficiently remove themselves from financial trouble. Contact a qualified IRS attorney to learn more about these important new programs.