IRS

When taxpayers think about resolving their tax debt, they look for ways to decrease their overall tax liability. While there are many ways to reduce a tax debt legally and stay within IRS rules and regulations, not every taxpayer qualifies for tax debt reduction. It is advisable to use legal tax help to understand the…

It is during tax season that taxpayers can resolve their back taxes and get back into the good books of the IRS. Taxpayers can file their past tax returns to potentially reduce their tax debt. In cases where taxpayers need to negotiate with the IRS, they may require the help of tax lawyers, enrolled agents,…

Paying taxes may hurt, but not paying taxes can hurt even more. Taxes may be voluntary, but there are penalties for not complying. The IRS has the legal right to seize and sell a taxpayer’s property and/or assets if they fail to pay taxes.The simplest method to resolve IRS debt is to pay the entire…

There are various methods to pay IRS tax debt. Some include, a Full lump sum payment, an Offer in Compromise, an Installment Agreement, a Partial Payment Installment Agreement and Currently Not Collectible. Apart from payment of the entire tax debt in a single payment, all other payment plans require negotiation with the IRS.The IRS considers…

Taxpayers with tax debt must have accurate information about how they can resolve their back tax debt and what can happen if they avoid it. The resolution of tax debt does not always involve the payment of tax debt. Under the IRS debt program, Currently Not Collectible, taxpayers can postpone the payment of their tax…

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…

Back taxes scare most people. When taxpayers find that they are unable to pay the entire tax debt, many postpone making any payment, which can lead to an IRS lien or levy. The IRS looks to collect the entire back taxes, but when if it cannot, it will negotiate the other options available.IRS payment plans,…

Tax filing might have gotten easier with e-filing, but tax preparation is as hard as ever. No wonder most taxpayers seek help from tax preparers to file their taxes. Along with paid services, there are many free resources to get tax filing help for taxpayers. The IRS has many online, telephone, and in-person facilities for…

Tax debt increases with time. If you do not file taxes, the amount you eventually pay will not be the same. The IRS does not like taxpayers to postpone the payment of tax debt, so they charge interest on any back taxes due. If taxpayers take more time to pay their back taxes, the IRS…

Unpaid taxes can become a pain in the neck. Even if the amount of taxes owed is little in the beginning, as years pass by, the amount grows. That is because the IRS charges interest on the amount of taxes due. As the amount of tax debt increases, the interest also increases. Therefore, it is…