Every year, there are millions of taxpayers who find themselves unable to pay their taxes in full to the IRS. The IRS knows there will be some taxpayers coming up short. The good news is the federal government is happy to work with you. The bad news is, they’re relentless in their collection of back …
Read more “How Can I Pay My Federal Taxes With Installments or Monthly Payments?”
Taxes are a fact of life, but tax problems shouldn’t be. If you find yourself in tax trouble, the IRS has clear plans for how to proceed in collecting what they believe you owe. After sending you notices, the IRS can garnish your wages, levy your bank account, even put a lien on your property. …
Running your own business means wearing a lot of hats, from office cleaner and supplies buyer to client schmoozer and payroll maker. But should you add tax preparer to your already long list of duties? What if you have a tax problem with the IRS? What if doing your own taxes creates a tax problem? …
Read more “Why Doing Your Own Business Taxes or Resolving Your Own Tax Problem is a Terrible Idea”
No one likes filing their taxes, but not filing them at all is never a good idea. The IRS is a powerful collection agency, and an unforgiving one. Getting on the bad side of the tax agency is not fun, and having years of unfiled returns is one of the worst moves you can make. …
Owing money to the IRS can be frightening to say the least. It is easy to feel helpless in such a situation but you should not let fear and feelings of helplessness freeze you into inaction. Every day you wait is one more day interest and penalties are accruing, and those charges could balloon your …
Read more “Tax Resolution and Your Finances: What is an Offer in Compromise?”
DIY is not always the best answer. When it comes to your money, there’s only one person that truly has your best interests at heart – and that person is looking back at you in the mirror. Handling your own finances and making your own decisions can give you peace of mind and help you …
Read more “When DIY Won’t Do: 3 Times, When Hiring a Tax Relief Professional is the Only Way to Go”
Back Taxes: According to the IRS, more than 13.2 million Americans owe back taxes. The majority of these cases involve amounts that seem impossible to pay off. That leaves those tax-owing Americans in a difficult position. They want to pay, but they can’t, and the end result is feeling a lot of guilt about the …
Read more “Why This Should Be The Year You Pay Off Back Taxes”
(Filing Mistakes Could Land You In Tax Trouble) It can be a stressful experience preparing your taxes and filing them. It canbe even more stressful however, if you make these mistakes that land youinto tax trouble. It’s important to remember that if you make mistakes that are serious enough, you might end up triggering an …
Read more “4 Mistakes That You Don’t Want to Make When Filing Your Taxes.”
Big companies are known for getting all sorts of breaks, but when average people fall behind, they rarely receive help. When you owe back taxes, but can’t afford to pay them, then you may qualify for a special tax status known as currently not collectible. If you’re approved for currently not collectible status, then the …
Read more “What is Currently Not Collectible Status from The IRS?”