Tax liens are a common problem for taxpayers, but many people don’t understand what they are or how they work. When a taxpayer doesn’t pay their taxes, the IRS or another taxing authority may legally claim ownership of the taxpayer’s property as a...
The IRS has a number of statutes of limitations in place that dictate how long the agency has to collect tax refunds, pursue an audit, or file taxes. These statutes can be confusing, so we’ve compiled a list of seven important FAQs to help you better understand...
With each new administration, the government looks for ways to help us fulfill our tax obligations. They want to ensure we are paying our fair share and doing so in a way that is efficient and easy to understand. There are also private entities that can help us with...
What would you do if you knew there was the possibility of getting your tax penalties wiped away? You read that right. You can try to apply for an IRS tax abatement. While it’s not a hundred percent guaranteed that it would work for you, it is still worth trying. The...
An IRS audit is an examination of an individual’s or organization’s tax return to ensure it is accurate. The IRS may audit a return if it suspects that the taxpayer has underreported their income, overstated their deductions, or attempted to avoid paying...
If someone owes the IRS more money in taxes than they can pay, the IRS has a plan to help. This plan is called an installment agreement, allowing the person to make smaller payments over time until the debt is paid off. If someone falls behind on their payments or...
Essentially, a debt settlement is an agreement between you and your creditor to pay off your debt for an amount that is less than what you owe. This can be a good option for people who are in over their heads with their debt, but it is not without its difficulties....
No one likes dealing with taxes. It’s a complicated and stressful process, made even worse if you owe money to the IRS. Facing tax problems head-on is never easy, but it’s crucial to take action and seek help if you’re struggling to pay your taxes....
The notice of deficiency is a very important document. It is the taxpayer’s first notice of the proposed assessment and provides important information on how to dispute the assessment. It is important to review the notice carefully and to take action if the...
The United States tax system is known to be complex and can be challenging to navigate. As a result, many people owe back taxes to the IRS. If you find yourself in this place, you may wonder how to eliminate your back taxes. Fortunately, there are a few options...
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