Blogs

Fraudulent tax preparers sometimes misuse the trust of taxpayers to file fraudulent tax returns on their behalf and run away with large refunds. Many times, they tempt taxpayers into filing false tax returns to claim large refunds. Whatever their method is, tax fraud is a crime punishable by law. To avoid falling into the trap... Continue reading →

If taxpayers cannot pay their full tax debt in a single payment, they need to arrange an IRS tax debt payment plan. The IRS has many payment plans, including Partial Payment Installment Agreement, Offer in Compromise, Currently Not Collectible, and Installment Agreement. Payment plans allow taxpayers to resolve their tax debt without paying the full... Continue reading →

Tax debt is a burden that must be dealt with at as quickly as possible because it only grows with time. Those taxpayers that do not have the financial capability to pay their entire tax debt can resolve their tax debt case using various IRS payment plans that do not require full payment. The two... Continue reading →

Even though most return preparers provide excellent service, some file inaccurate tax returns in order to claim huge refunds. Before hiring a tax preparer, taxpayers must ensure that their tax preparer has an Individual Tax Identification Number (ITIN). This unique number given by the IRS to every practising tax preparer ensures that they can track... Continue reading →

Tax evasion is a serious crime. If the IRS suspects that a person is evading their taxes, they might ask for financial details, including assets, liabilities, and financial transactions. The IRS usually audits to ensure there was an evasion of taxes. If a taxpayer is found guilty, along with penalties, there is possibility of imprisonment.To... Continue reading →

Tax debt relief can be achieved through tax debt reduction. Those taxpayers that cannot afford to pay their full back tax debt may consider applying for tax debt reduction plans of the IRS. It must be remembered that it is only those who are in serious financial hardship and are barely able to meet basic... Continue reading →

There are various ways to achieve tax debt relief, but for taxpayers that have sufficient finances to pay the entire tax debt, but not in a lump sum can explore Installment Agreement. There are various kinds of Installment Agreements, including Guaranteed Installment Agreement, Streamlined Installment Agreement, and Partial Payment Installment Agreement.Taxpayers can choose an appropriate... Continue reading →

Resolution of tax debt is necessary and resolution of tax debt at the earliest opportunity is most beneficial. Taxpayers under tax debt should make efforts to resolve their tax debt using IRS payment plans if they are unable to pay the entire debt amount in a lump sum. There are various payment plans that allow... Continue reading →

The IRS uses many kinds of collection actions to get taxpayers to resolve their tax debt. Some of the methods to collect back taxes include the sending of notices, federal tax lien, and tax levy. The IRS begins by sending notices to collect back taxes and ultimately places lien and levy to fulfil tax debt... Continue reading →

In cases of tax debt, the IRS begins collection action by sending notices. Initial notices include basic information such as the tax debt amount to be paid and how to pay it. Taxpayers must begin making efforts to pay their tax debt at this stage to avoid aggressive collection actions such as lien and levy.Resolution... Continue reading →