Blogs

The new tax fraud that has been affecting taxpayers around the country is a telephone scam where the callers pretend to be from the IRS. If you receive a call from the IRS saying that you owe taxes or that you are entitled to a large refund, do not share any sensitive information with the... Continue reading →

Before filing taxes, you need to consider where your income is coming from. If any part of your income comes from one of the U.S. possessions, then you need to comply with certain specific tax rules. The U.S. possessions with specific tax rules are American Samoa, U.S. Virgin Islands, Puerto Rico, Guam and the Northern... Continue reading →

The IRS has many payment plans for the resolution of the tax debt, some of which do not involve its full payment. The resolution of a case with tax debt relief depends on the unique circumstances of the taxpayer. For example, a taxpayer that does not have enough income or assets to pay the full... Continue reading →

Resolution of tax debt can be achieved through various methods, but for every case, there is usually one method that is the most advantageous. After choosing the most appropriate method to resolve a tax debt case, it is essential to represent the case professionally and negotiate its terms and conditions with the IRS, if required.... Continue reading →

Many taxpayers end up paying more in tax debt than they originally needed to because they waited to resolve it. As time passes by, the amount of back taxes owed increases because the IRS charges penalties and interest on it until it is paid in full. Even after a taxpayer has qualified for a tax... Continue reading →

If you do not have the financial capability to pay any amount of back taxes, then Currently Not Collectible (CNC) is an option to consider. Under this IRS status, the IRS postpones tax debt payment until the taxpayer is able to pay it partially or fully, depending on their financial condition in the future.The IRS... Continue reading →

The tax code needs a complete overhaul, but the process of reforming the tax code might be not so easy. Even though most are likely to agree on certain matters such as removing unnecessary complexity that makes the tax code more complicated, some changes might not be agreed upon by all. As taxpayers will feel... Continue reading →

Almost everyone would agree that the tax code needs an overhaul, but an overhaul of the tax code will be as complex as the tax code itself. The tax reform proposal by the House of Ways and Means has suggested many changes to the tax code with the aim of making the tax code simpler... Continue reading →

Tax debt resolution is simple, if the taxpayer in debt can pay the entire tax bill in one go. However, paying in a lump sum is difficult if the tax debt is large. The first thing to do if you have a large tax bill is to learn about the IRS’ tax debt payment plans.... Continue reading →

Every IRS debt resolution plan has specific restrictions, some of which are negotiable. As every tax debt case is different, there is scope of negotiations with the IRS. To qualify for any tax debt payment plan, the applicant must have filed all past tax returns. Even if they cannot pay their entire tax bill, they... Continue reading →