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Is EFTPS right for you?

February 12, 2014 by in category Taxes tagged as ,

EFTPS stands for the Electronic Federal Tax Payment system. It is a free service provided by the United States Department of the Treasury to allow taxpayers to quickly and easily make tax payments online. Electronic funds transfers from your bank account can be scheduled 24 hours year day, 365 days per year. Why does EFTPS […]

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OIC Mistakes

February 11, 2014 by in category irs tagged as , ,

Mistakes to avoid while applying for OIC If you owe the Internal Revenue Service, an Offer in Compromise (OIC) is a legitimate way to settle the debt. The goal of the IRS is to collect debts in their entirety, so you must show you have valid reasoning to ask for an OIC. If the agency […]

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Applying for an Offer in Compromise

February 10, 2014 by in category irs tagged as ,

Five Steps for an Offer in Compromise An offer in compromise is a tax settlement in which a taxpayer pays a sum that is less than the full tax owed. The IRS is willing to accept an offer in compromise when there is doubt as to whether it could receive a full payment in one […]

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When Should You Hire a Tax Professional?

February 8, 2014 by in category Taxes tagged as

Dealing with taxes, especially debts owed to the IRS, can be a real headache. If you file incorrectly, you can wind up being asked to pay more than you actually owe. If you can’t afford to make your IRS payments, you can start a spiral of debt that you will never be able to pay […]

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If You Can't Afford Your Tax Debt

February 7, 2014 by in category Tax Debt tagged as , , , , ,

5 Ways the IRS Can Help Tax time is stressful for most Americans, but even more stressful if you can’t afford to pay what you owe right away. Thankfully, there are several options available to you to help you ease the burden this year. You will be able to pay your taxes and save yourself […]

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How to Negotiate a Tax Settlement

February 6, 2014 by in category Taxes tagged as , ,

If you’ve started your taxes and think you might owe the IRS more than you can afford to pay this year or owe back taxes from previous years, you may be able to get help to pay off your tax debt. The IRS is one of the strictest creditors and has far more power than […]

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IRS Tax Payment Plans

February 5, 2014 by in category irs tagged as , , ,

What to Expect From IRS Tax Payment Plans Most people do their best to stay on top of their taxes. However, filing errors or financial difficulties could result in owing back taxes. By contacting the IRS, you can come to an agreement on a payment plan to take care of your liability. You can also […]

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Help When Filing a Late Tax Return

January 28, 2014 by in category Taxes tagged as ,

If the thought of April 15th is giving you shivers, you might be in a common situation, where you have to file a late tax return. Don’t be too worried. If you handle it correctly, it can be perfectly okay to file a late tax return. However, the situation does require some serious consideration. Here […]

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Failure to File or Pay Penalties

January 27, 2014 by in category irs tagged as , , ,

Forgetting to file your taxes or refusing the pay the amount that you owe in taxes can result in certain penalties. Depending on your actions and the situation, the penalties and consequences that you face may vary. Failure to File Penalty The penalty for failing to file your taxes by April 15th or the extended […]

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Tax Settlement and Tax Debt

January 26, 2014 by in category Tax Debt, Taxes tagged as , , , , , ,

Owing back taxes and tax debt can be one of the biggest bothers, something that is often unforeseen. While it certainly can be an unwelcome and unpleasant situation to be in, it can always be worse, and definitely is not the end of the world. No matter how much tax debt you find yourself in, […]

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