How game changing is the IRS “Fresh start” initiative?
Tax debt is horrifying, not only because of the debt itself, it is because it means you owe to the most powerful tax collector agency in the world, the one that will not really make an effort to understand your money issues and will do what it takes to get their money back. Does it […]
What is Coronavirus Tax Relief?
The coronavirus pandemic has affected families worldwide, many have lost their jobs due to the quarantine, losing the ability to keep their domestic expenses and leaving them in a challenging economic situation. Even the ones that kept their jobs were frequently victims of the uncertainty of having full control of their income.
Some of the most worrying aspects of having Tax Debt
If you owe the IRS money, things can get pretty tough: as one of the most powerful agencies in the world, you don’t want to be in debt with them, they will do all it takes to have their money back. This can affect your life if you continue to ignore it. Here are some of the main issues you have to deal with when you have a tax debt:
Writing a Penalty Abatement Letter that will be approved
Penalty Abatement is an opportunity the IRS grants to those who “made an effort to comply with the requirements of the law, but were unable to meet your tax obligations, due to circumstances beyond their control”, as they state in their website.
Reasons you actually save money working with a tax resolution professional
Working with a tax professional is the best decision you can make in order to find financial peace of mind. You might think this is just another way to spend money you don’t have but here are a few reasons you definitely end up giving up more of your money when trying to work it out on your own.
Four Mistakes That You Do Not Want To Make When Filing Your Tax Return
Preparing and filing your taxes could be a stressful experience. It can be even more stressful however, if you make these mistakes that could land you in tax trouble. It’s important to remember that if you make mistakes that are serious enough, you might end up owing more taxes or could trigger an audit of your tax return.
You Have Legitimate Options If You Cannot Pay Your Taxes
If you don’t have money to pay what you owe to the Internal Revenue Service (IRS), you have some options to work with. Please don’t ignore the letters from the IRS and don’t let your back tax problem go unattended. The IRS has a lot of power when it comes to recovering the money they […]
How To Achieve Tax Resolution With An Offer In Compromise?
An offer in compromise is a program for taxpayers who owe the Internal Revenue Service more money than they can afford to pay.
If You Owe Back Taxes, Stop Panicking and Start Planning
If you owe back taxes to the IRS, some panic is understandable. They are considered the most brutal collection agency on the planet.
If I am In Tax Problems, What Are My Options?
A letter from the Internal Revenue Service is usually not a good thing. One of the worst notices to get from them is the CP90 – Final Notice Before Levy. It is a final warning shot to scare you into paying up and should not be ignored.