Advice

There are many ways to pay back tax debt, but taxpayers need to choose a method that will provide them with most advantages. Choosing a payment plan depends largely on the amount of tax debt and the financial capability of taxpayers.Those taxpayers who have smaller tax debt should pay off the entire amount in a…

Taxpayers can check their eligibility for a penalty abatement if they haven’t filed, or paid their taxes on time or in full. The IRS charges penalties and interest on any tax amount paid after the tax filing deadline. To get penalties reduced or forgiven, taxpayers need to provide a ‘reasonable cause’ for the delay in…

The tax filing deadline is around the corner, so taxpayers who are looking to pay their taxes before midnight April 15th should electronically pay their taxes. Taxpayers who cannot pay their taxes before the deadline and owe the IRS will need to either pay the full debt amount in a lump sum, or apply and…

The April 15th deadline for filing taxes is just four days away! The best option for taxpayers who have yet to file their return is to e-file their returns because it is easy and more importantly it is fast. As many as 100 million taxpayers e-file their tax returns.Using the IRS’ Free File service, anyone…

Taxpayers often get into tax debt due to not filing taxes on time. Missing the filing deadline can lead to trouble for taxpayers because the IRS punishes any non-compliance, be it intentional or not, with penalties. In the case of IRS debt, taxpayers must avoid IRS collection actions, such as a tax levy.Taxes cannot be…

In most cases, taxpayers intentionally avoid getting into tax debt, but sometimes IRS debt comes as a surprise. Tax filing inaccuracies, identity theft, or tax fraud by tax preparers can result in a tax debt that taxpayers become aware of only after receiving an IRS notice.It is important for taxpayers to begin exploring ways of…

Payroll taxes have hit around 160 million American workers, and thinned their paychecks. The payroll tax increase will affect taxpayers’ spending. The immediate result of fewer earnings is less spending, but the effects of increased payroll taxes might also mean less money in retirement funds, and savings accounts, which affects investments.The average taxpayer could see…

The tax filing season has arrived and taxpayers are busy calculating their taxes and refund, and preparing their tax returns. Since U.S. tax laws are complex, most taxpayers hire tax preparers to file their taxes, but there are taxpayers who do not have the financial ability to hire a tax preparer. For them, the IRS…

The non-payment of back taxes can lead to trouble. In many cases the IRS discovers the tax debt, but by then the amount of tax debt has grown because of interest, and becomes difficult to pay in full. That is why early resolution of back taxes is beneficial.The IRS recently discovered that Don Marsh, of…

Tax debt is a pain, but the good news is that it can be relieved. Paying back tax debt comfortably is possible if taxpayers have the right information and the right help.Although smaller tax debt amounts can be paid in full affordably, large tax debts usually cannot, and taxpayers should look for tax debt relief,…