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 …
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 …
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 …
IRS Tax Debt Settlement: How to Negotiate with the IRS Read More »
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 …
It’s better not to be in a situation in which you must file for an offer in compromise with IRS, but nonetheless, it doesn’t hurt to know what that is. Basically, an offer in compromise is a program that allows tax-indebted persons to clear their IRS debt for a settled lesser amount of money that …
How to get an Offer in Compromise approved to settle Tax Debt Read More »
Did you face an emergency that caused you to file or pay the IRS late? If you have an IRS penalty on your hands, you can get a waiver. To do this, you must claim reasonable cause through an IRS penalty abatement reasonable cause letter . You can technically either call the IRS to claim for reasonable …
How to write a penalty abatement (reasonable cause) letter to the IRS Read More »
I’ve often raved on this site that Community Tax is one of the most honest and American companies that I know of. In this review, I’ve summarized all of my research on Community Tax in one place so that you can choose if they’re right for you. If you’ve followed my site, you’d have come …
The IRS tax code is something people are very well aware of, but very few can grasp completely. That’s why many individuals don’t know whether they’ve committed frauds without even knowing or not. Fraud and tax evasion are notions everybody has to be familiar with, since tax fraud and tax evasion penalties are manifold, coming …
IRS Audit Penalties for Tax Fraud vs Honest Mistake Read More »
