Delinquent taxes can lead to dangerous consequences from the IRS, but what exactly are these taxes, and how can they negatively affect you? Tax Day falls on mid-April nearly every year, with certain exceptions (such as 2020 and 2021, due to COVID-19). All eligible taxpayers contribute to the government’s coffers throughout the year, but Tax Day …
It can be incredibly stressful trying to resolve tax debt, but with the help of a tax professional and these 7 tips, you can get back on your feet. Both state and federal governments take tax debt very seriously, to the point of levying criminal charges on those who willfully ignore their taxes or attempt …
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 …
IRS Penalties are one of the ways they try to urge taxpayers to consider their tax debt more seriously. Learn how to avoid them before it hurts you. There are some penalties that are worse – and more surprising – than others. Knowing what IRS penalties they can send your way and how best to …
Negotiating with the IRS can be difficult, especially when you don’t know how to navigate the IRS’s ruleset. Explore these tips on how to stop wage garnishment. Certain debts and obligations can warrant serious collection actions from creditors, particularly for tax debts, late child support payments, and late loan payments. When you owe federal taxes, …
Is there a way to receive IRS debt forgiveness? Yes, but only partially. True total tax debt forgiveness is only possible when a taxpayer’s account was erroneously charged more than it should have been (Doubt as to Liability), in which case the IRS may even issue a tax credit if it turns out you overpaid. …