Scams & Alerts

Social security tax is paid by W2 workers, the self-employed and employers to fund the Social Security program. Social Security taxes are fixed at a single rate, which currently stands at 12.4 percent. For W2 employees, the employer pays half of the amount of Social Security (6.2 percent) and the employee pays the remaining 6.2... Continue reading →

Resolution of back taxes can become complex and time consuming if the correct steps aren’t taken from the start. Many times, a small mistake such as choosing the wrong payment plan prevents a taxpayer from receiving maximum benefits. When seeking relief from back taxes through a payment plan, it’s important to choose one appropriate to... Continue reading →

Nobody likes inflation, but when it comes to taxes, there may just be a silver lining. How inflation can help you to save taxes is explained below by The Wall Street Journal. “The law requires annual inflation adjustments on many numbers, from the standard deduction and personal-exemption amounts to tax-bracket tables. “Washington hasn’t yet announced... Continue reading →

A tax debt case, especially if it is complicated, should be resolved with careful planning and expertise. Even though the IRS will encourage you to pay the total tax debt in one payment, this may not be financially feasible for you. There are various resolution methods to consider when handling a tax debt. How the... Continue reading →

Tax inversions are in the news, but they are not new. They are a form of tax avoidance that has been used before and can only be stopped by changing the rules that allow them. It’s believed that the practice of tax inversions began in the 1990s though nobody is quite certain of its exact... Continue reading →

The IRS sends notices for various reasons, including tax debt collection. IRS notices serve not only as a reminder to taxpayers, they also provide information regarding the amount of the debt and how it can be paid. Notices from the IRS do not, however, include every resolution method available. Some notices require a reply from... Continue reading →

More and more American expatriates are considering the benefits and the limitations of having U.S. citizenship. Many who’ve decided that their U.S. citizenship was not in their best interest have opted to renounce it. New tax filing and reporting requirements under the foreign account tax compliance act (FATCA) have led many American expatriates to abandon... Continue reading →

The IRS has various kinds of payment plans for tax debt resolution, one of which is Currently Not Collectible (CNC). This status is assigned to tax cases in which the IRS cannot collect any amount of tax debt and postpones collection. When a taxpayer is in CNC status, the IRS cannot initiate any collection actions... Continue reading →

Tax inversions are nothing new. Companies have used them in the past to reduce tax liabilities. When tax inversions recently made headlines, criticism was quick to follow – even from President Obama. At a press conference on Thursday, he clearly expressed his opinion regarding tax inversions. Obama stated that, “We can’t solve the entire problem... Continue reading →

When taxpayers owe back taxes, many times they’re not aware how the IRS discovers the debt and begins collection proceedings. A tax liability may lead to penalties and interest, facing aggressive IRS collection actions, and a lot of stress. In order to avoid complicating your tax debt case, it’s important to know what to expect... Continue reading →