The Internal Revenue Service’s system is not perfect. In some instances, taxpayers have gotten notifications that they filed payments and got rejected. Most of the time, the errors are simple glitches in the system which only require an easy fix. However, for...
Working hard and earning income is what allows you to purchase all your needs and wants. However, it’s difficult to keep track of how much disposable income you have after all is said and done. That is why you are often left with more debt than you had planned...
Do you know what a notice of deficiency is? It is a legal notice that the IRS sends to taxpayers, letting them know that they owe the IRS additional income tax. The taxpayer is then given 90 days from the date of notice to challenge the determination should they...
For any law-abiding citizen, paying taxes is a duty because it’s the primary way to help their country’s economy. For this reason, many people ensure that they pay their taxes. While this isn’t a problem for most people, some have difficulty paying...
Not all penalties are created equal, and this unequal treatment applies to penalty abatements as well. However, both the penalty for failure to file and the penalty for failure to pay are subject to penalty abatement. What is Penalty Abatement? Penalty abatement is a...
According to the IRS, roughly 10 million Americans fail to submit their federal income tax returns each year. Taxpayers fail to submit their tax returns for various reasons; some just delay; others do not comprehend their filing needs; and, in rare cases, taxpayers...
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