Is EFTPS right for you?
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...
OIC Mistakes
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...
Applying for an Offer in Compromise
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...
When Should You Hire a Tax Professional?
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...
If You Can't Afford Your Tax Debt
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,...
How to Negotiate a Tax Settlement
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...
IRS Tax Payment Plans
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...
Help When Filing a Late Tax Return
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...
Failure to File or Pay Penalties
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...
Ridiculous Tax Frauds & Write offs
December 21, 2013 by admin in category irs, Taxes tagged as Tax Evasions, tax fraud, Tax Frauds, Tax Write offs, taxesWeird Tax Evasions and Tax Frauds Death and Taxes — you’d think people would know by now that those are the only two things you can’t escape. Still, people do some crazy things when it comes to avoiding paying taxes. Let’s look at some of the odd and whacky ways people have tried to commit […]
0 0 Read moreSettlement vs Bankruptcy
December 20, 2013 by admin in category Tax Debt tagged as Bankruptcy, Debt SettlementIs debt settlement a better choice than bankruptcy? Dealing with debt problems can be an incredibly difficult undertaking. There are a lot of decisions to be made, which can be scary or intimidating if you’ve never dealt with them before. It is absolutely imperative that you make carefully thought out financial decisions when it comes […]
0 0 Read moreHow to Avoid Tax Related Phone Scams
December 19, 2013 by admin in category Scams, Taxes tagged as Back Taxes Scam, IRS phone scams, Paper Check Scam, Phone Scams, Rebate ScamEvery year thousands of U.S. citizens are targeted by fraudulent IRS tax scams in an effort to cheat them out of their financial assets. As the 2013 tax season approaches, phone related scams are on the rise. In almost every state, taxpayers are receiving phone calls from scammers claiming to be IRS officials requesting payment […]
0 0 Read moreDe-Stressing During the Tax Season
December 18, 2013 by admin in category Taxes tagged as De-Stressing, tax seasonThe tax season is generally considered the months from January 1 to April 15. Unfortunately, this time period starts immediately after the holiday season when many people are already in stress mode. This can easily turn into a dangerous situation. According to the National Institutes of health (NIH), prolonged stress interrupts your body’s ability to […]
0 0 Read moreTaxes you didn't know you were paying
December 16, 2013 by admin in category Taxes tagged as Alternative Minimum Tax, ATM, Gasoline Tax, Miscellaneous Taxes, Phone Taxes, Self Employment Tax, State Alcohol Tax, taxesIt’s obvious when a consumer buys an item from a local retailer that the price that is actually paid will end up being more than the ticket price. Whether it’s a new car or a sweater at the mall, we pay taxes on almost all of our purchases. What many people may not realize is […]
0 0 Read moreFirst Time Penalty Abatement
December 15, 2013 by admin in category irs, Taxes tagged as easonable Cause Assistant, First Time Abate, First Time Penalty Abatement, FTA, IRS, RCAWhat is First Time Penalty Abatement? Back taxes owed to the IRS can be overwhelming — particularly when additional penalties and accumulating interest factor into the equation. The IRS assessed nearly 40 million penalties totaling a staggering $27 billion against taxpayers in 2012 alone. Thanks to the little known First Time Abate (FTA) policy, however, […]
0 0 Read moreAvoiding Tax Debt
December 14, 2013 by admin in category irs, Tax Debt tagged as IRS, Tax Debt, tax timeHow to Avoid Tax Debt Many people dread tax time. No one wants to give the government any more money than necessary. And no one wants to owe a big tax bill after their tax returns are filed. Owing money to the IRS causes stress for many. If your bill isn’t paid on time, you […]
0 0 Read moreUnpaid Taxes
December 13, 2013 by admin in category irs, Tax Debt tagged as Unpaid TaxesWhat Can the IRS do to Collect Unpaid Taxes? Failure to pay your taxes on time can have dire consequences. If you owe taxes to the IRS and fail to pay on time, you can be held liable not only for the payment of the taxes owed but also for interest. Following is an overview […]
0 0 Read moreFresh Start Offer in Compromise
December 11, 2013 by admin in category irs, Taxes tagged as Compromise, Fresh Start OfferWhat is the Fresh Start Offer in Compromise? What is the IRS’s Fresh Start Offer in Compromise? It’s a new service offered by the IRS through which they have taken their existing Streamlined Offer in Compromise and incorporated it as part of an umbrella investigation of offers for paying tax debt. The Fresh Start program […]
0 0 Read moreDifferences between Tax Forms
December 10, 2013 by admin in category Taxes tagged as formsWhether it is your very first time filing your individual federal income tax return or your first time filing with new changes in your personal and home life, deciding which tax form is the right one for you can be a bit confusing. Here we’ll take a look at the differences between each tax form […]
0 0 Read more