The IRS has recently awarded new contracts to private collection agencies, but what exactly are private debt collectors and what do they do? The IRS has been plagued by a drop in employees and resources for years, leading to lower and lower auditing rates, and increased concern over the fact that the agency may be …
Failure to file taxes can lead you to hot water with the IRS, but what happens if you don’t file taxes for 5 years? If you’ve ever failed to file your taxes, you’re sure to have received a notice from the IRS detailing the penalty you have to pay as a result of your late …
When preparing your taxes, you likely look towards deductions, but when it comes to itemized vs. standard deductions, which one is right for you? Out of the few ways you can reduce your income taxes each year, the only two you can rely on year after year are the standard deduction and itemized deduction. While …
If you receive an IRS notice, it can be extremely stressful. But what does it mean to be audited by the IRS? What are your options to resolve it? An audit from the IRS is not necessarily routine, but it isn’t something to immediately fear, either. If you aren’t being audited by the IRS, then …
An IRA, 401k, and Roth all have their respective pros and cons, but what is the difference of IRA vs. 401k vs. Roth? When it comes to retirement, it’s important to know what’s best for you. Working towards a stable retirement is an incredibly difficult task, especially today. It takes a lot of careful planning, …
The future of social security is an uncertain one, but can social security be garnished? Scroll down to find out more about social security and Notice CP91. Of the many notices and letters the IRS issues each year, Notice CP91 is one of the more serious notices. Receiving this notice from the IRS means that …