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...
Will Debt Settlement Affect My Credit Score
December 7, 2013 by admin in category Tax Debt tagged as Credit Score, Debt SettlementStruggling to gain control of personal finances is a real problem for many people in the United States. Some studies suggest that more than three-quarters of adults regularly experience stress related to finances. More than a third admit they don’t know enough about credit scores, lending regulations and budgeting to adequately manage their money wisely. […]
0 0 Read moreTax Returns (Great ways to spend)
December 7, 2013 by admin in category Taxes tagged as Emergency Fund, Home Improvements, Improve Your Vehicle, IRA, Mortgage, Pay Off Debt, tax returnGreat things to spend your tax return on Are you anticipating a big tax refund this year? Don’t blow it on stuff you don’t need or squander it at the nearest big-box store. Instead, use the money to solidify your financial future and boost your economic portfolio. To do that, plan to invest your tax […]
0 0 Read moreHow to Appeal a Denied Offer in Compromise
December 6, 2013 by admin in category irs tagged as IRS, offer in compromise, OICHaving your offer in compromise (OIC) denied can be frustrating, but it happens since the Internal Revenue Service (IRS) only accepts 90 percent of all offers. Understanding very well why your OIC was rejected is the first step that will help you when you want to appeal an Offer in Compromise that was rejected. You […]
0 0 Read moreTax Records (How long to Hold onto)
December 6, 2013 by admin in category Taxes tagged as Tax Records, tax returnsTax Records There are two kinds of people in this world–those who save receipts and those who don’t. Even for the second type of person however, there is a tendency to hang on to tax paperwork for a very long time. There is a problem with this, even beyond the threat of being buried under […]
0 0 Read moreTeaching Your Kids About Taxes
December 5, 2013 by admin in category Taxes tagged as kids, taxesHow to Teach Your Kids About Taxes They say the only things that are inevitable are death and taxes, and of those two things it’s taxes that occupy much of our time and our lives. There are a lot of disagreements when it comes to taxes, but at least some taxes are necessary in order […]
0 0 Read moreMistakes on your tax return?
December 4, 2013 by admin in category Taxes tagged as 1040X, mistake, tax returnYou’ve worked through all of your 2013 expenses and you have your tax forms ready to submit. You send them on to the IRS, and within a matter of hours you realize you’ve made a mistake. Whether you’ve left out a deduction, or filled out the wrong form on accident, it’s not as difficult as […]
0 0 Read moreIRS Collection Policies
December 3, 2013 by admin in category irs tagged as Fair Debt Collection Practices Act, IRS Collection Policies, Privatization of Tax Collection, Small DebtsNo matter how much you owe to the IRS, you should know that there are limits and strict guidelines to what the IRS can and cannot do in seeking money owed. In other words: you have rights. To be more specific, you have a Bill of Rights. The Taxpayer Bill of Rights III, or the […]
0 0 Read moreReceipts to Keep for Tax Write-offs
December 1, 2013 by admin in category Taxes tagged as home office expenses, Other work expenses, Personal care, Sales tax, Self-employment expensesWhich Receipts Should You Keep for Tax Write-offs? Now that a new year has arrived, many of us find ourselves worrying about how many deductions we can scrape up for the IRS, and which receipts we need to support those claims. But the first question you must ask yourself is whether you plan to take […]
0 0 Read moreTax deductions for individuals
November 30, 2013 by admin in category Deductions tagged as Children & Education, Medical Expenses, Mortgage Interest, Personal Deductions, Tax deductions, Taxes & PreparationIt is a new year, which means that tax time will be coming soon. You really do not want to wait until April to take care of this task. It is stressful to worry that you will not file by the deadline. But if you are due a refund this year, the longer you wait […]
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