Dealing with a 941 Late Payment Penalty
If you’re an employer, then you know that you must fill in quarterly tax returns with the IRS for the payroll taxes for your employees’ wages. You are required to do that according to the two schedules imposed by the IRS: monthly or once every two weeks. If you file those payroll taxes after their…

5 Ways to Reduce Taxable Income
Many tax bills are similar to punches to the stomach, and on some occasions, the latter would be more pleasant than the former. Reducing taxes is anyone’s dream, and the perfect scenario would be that in which we wouldn’t have to pay any taxes at all. Reducing taxable income is one of the most frequently…

Owing money is something we all try to avoid. The stress of facing the repercussions can be overwhelming. Creditors often employ techniques such appearing at your workplace/home, taking money out of your weekly salary and even your bank account. Of all the creditors, the IRS is the toughest. IRS penalties for those who fail at…

If you’re having trouble paying your tax debt, you should set up payment plan to break the amount down into manageable monthly chunks. There are immense benefits to a payment plan. However, be aware that it can be complicated based on your financial situation. Some obstacles you might face include: Preparing financial statements, Calculating how…

Can you pay your Taxes with a Credit Card?
So you’ve just received your tax bill and shockingly, it’s much larger than you had anticipated. In fact, there’s no way that you’ll be able to pay it off any time soon. Yikes. With the due date looming ever closer, and knowing about all the nasty things the IRS can do to you, you can’t…

IRS Tax Debt Settlement: How to Negotiate with the IRS
Being indebted to the IRS is no joke. Sometimes, various unexpected life experiences can render people unable to pay back the money they owe, so they immediately turn towards alternatives of reaching mutual resolutions with the agency. Surely, it is a better thing to do that than to wait helplessly for a tax lien, for…

How to stop IRS Wage Garnishment
Of all the nasty things the IRS can do to delinquent taxpayers, an IRS garnishment is one of the worst. It’s particularly menacing because the IRS hits you where it hurts the most: By grabbing at your fresh and hard-earned wages. Wages that were meant to pay for school trips, healthcare or even a decent…