When running a business, managing payroll taxes can sometimes feel overwhelming, particularly when dealing with tax compliance and the regulations set forth by the IRS. One key component of payroll taxes that every business owner should understand is the payroll tax statute of limitations. This statute governs how long the IRS has to audit your …
Many wonder “Does a tax lien hurt your credit score when facing tax troubles?” Tax liens occur when the IRS places a claim on your property due to unpaid taxes. While these liens don’t directly show up as a negative mark on your credit report, they can still significantly influence your credit standing. Tax liens …
When facing tax debt, the IRS has several tools to collect payments. One of the most powerful methods is a bank levy. However, if you’re married or have a joint account with someone, can the IRS levy a joint bank account? While it may seem like the IRS can only go after the person who …
Understanding when to hire a tax attorney can save you from costly mistakes and unnecessary stress. Tax attorneys specialize in handling complex tax matters and representing taxpayers before the IRS. They offer valuable assistance in resolving tax debt, audits, or disputes, and can also provide advice on managing business or personal finances in compliance with …
Hiring the right tax attorney can make a significant difference in resolving tax issues efficiently. Asking the right questions for tax attorney during the hiring process helps you identify their expertise and determine if they are the right fit for your needs. Tax attorneys play a vital role in handling tax debt, disputes, and complex …
If you owe taxes that you cannot pay in full, you may wonder how to get an offer in compromise approved by the IRS. This option allows you to settle your tax debt for less than what you owe. It helps those who are unable to pay their full balance due to financial hardship or …