If you have received a Notice of Intent to Levy (CP504), here are the steps you should take to put an end to your tax debt. The US government is the country’s most powerful creditor in terms of how far-reaching its ability to lien and levy tardy taxpayers can be. Once the government catches wind …
How much money can be garnished from your paycheck? This guide explores the collection process and wage garnishment calculations. The reputation of the IRS usually precedes it, to the point that most people know the IRS can take your money if you owe taxes for too long or owe too many taxes. But what most …
Receiving an IRS notice can be extremely daunting, but do not stress. Here is a list of five types of IRS notices and what they mean for you. The IRS sends out hundreds of thousands of notices every year to taxpayers, these IRS notices can include: Reminding them to review their taxes Send in additional …
If you have unfiled taxes, don’t stress. There are steps you can take to get back into good standing with the IRS. One of the things the IRS cannot be criticized for is their memory – if you have unpaid taxes or unfiled taxes, the IRS will file your returns for you, and penalize you. …
Tax credits can help taxpayers by providing financial relief, but what is a tax credit, how do they work, and how do you claim them? Many taxpayers may have become familiar with what tax credits are and how they function, through an energy-efficient home purchase, a first child, or through caring for an elderly loved …
It’s important to understand what the recovery rebate credit is, and how it may affect you. Here’s what you should know. Tax credits let you keep more money in your pocket come tax season – provided you’re eligible for them. The recovery rebate credit is available to all Americans who qualify for an economic impact …