Blogs

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 →

Taxpayers across the country battle various kinds of tax scams, including tax preparer fraud, scams by fake charitable organizations, identity thieves, etc. The most common tax scam this year is identity theft, which is often conducted by sending emails or making telephone calls. If you receive an unsolicited email probably stating that it is from... Continue reading →

One of the most used IRS tax debt resolution plans is the Installment Agreement. There are many kinds of Installment Agreements based on the amount of tax debt owed. Each has its unique qualifying factors. These agreements allow a taxpayer to pay the entire tax debt amount in fixed monthly installments over a specified period... Continue reading →

Tax debt becomes difficult to resolve if taxpayers take the wrong steps in the resolution process or postpone payment of tax debt. There are ways to resolve tax debt comfortably, but for that, you need to carefully consider the particulars of your tax debt case, including:Your ability to payThe duration of the debtIRS policies regarding... Continue reading →

Every tax season is different in some ways because of the new tax laws, IRS initiatives, improvements in IRS services, and differences in taxpayers’ financial and/or personal status. Along with catching up with the changes, taxpayers also need to remain safe from tax scams during the tax season, including tax preparer fraud and identity theft.If... Continue reading →