Tax Relief Companies

When resolving tax debt, taxpayers need to first explore their options to reach a resolution method that provides them with the most benefits in terms of saving time, effort and money. For those taxpayers that are not able to pay their entire tax bill in a lump sum, the IRS has payment plans. These plans…

Americans living overseas are making life choices owing to Foreign Account Tax Compliance Act (FATCA). Due to the new, much stricter compliance rules, many Americans living overseas feel they have to choose between being a citizen of the U.S. or of the country of their residence. For many Americans living abroad, the decision to renounce…

Foreign Account Tax Compliance Act (FATCA) was established to curb tax evasion by improving transparency by intensifying reporting requirements. After the IRS began to aggressively pursue tax evaders that evaded taxes using offshore tax havens, things changed for the millions of U.S. citizens that lived overseas. Complying with the U.S. tax laws became difficult.To make…

Taxes seems to be a minor consideration when it comes to selecting your place of residence, but for Americans living overseas, taxes have suddenly become an important factor in choosing whether to remain a U.S. citizen or not. After the IRS began to strictly implement Foreign Account Tax Compliance Act (FATCA) to curb tax evasion,…

There are certain myths connected with tax debt that often lead taxpayers into further complicating their tax issues and paying more than what is required. One prominent myth is that the original tax debt amount remains the same over time. The fact is, from the day the taxes are due, usually April 15th, the IRS…

The tax code has grown enormous over the years, as additions and amendments have been made to it. Today, it has become so gigantic that both taxpayers and the government are required to spend more money on compliance with it. The talk of the overhauling of the tax code is ripe, but removing parts from…

Tax preparation is difficult for most taxpayers and part of the reason is the complexity in the tax code. At present, the tax code is 10.8 million words and 14,000 pages long. Due to the complexity and enormity of the tax code, even tax lawyers often specialize in just one area of the tax code….

The complexity in the tax code has been a matter of much debate. Taxpayers have been feeling the burden of complying with a very long and complex tax code every year. Even though there is a consensus that the tax code needs to be simplified, it will be difficult to generate consensus on what stays…

If you were required to file taxes this year and you could not pay by the filing deadline of April 15th, then you should explore ways to resolve back taxes immediately. Sooner or later, the IRS will discover that you owe taxes and will initiate collection actions.To collect back taxes, the IRS first sends out…

There are various ways to pay tax debt. The simplest method to pay back taxes is to pay the full debt amount, including penalties and interest charged on it. As the IRS prefers full payment to any other payment option, there is no friction between the IRS and the taxpayer payee. For those who cannot…