Some enterprises and law firms take advantage of individuals in severe need of assistance in addressing their back tax liability to the IRS by making false promises and employing misleading techniques. These businesses typically demand a large upfront fee, maybe in the hundreds of dollars, for their services. They inform customers that they can halt [...]
IRS Code 9001 What does reference number 9001 mean? Many IRS terms and codes continue to be a head scratcher to the typical taxpayer. The 9001 means that the taxpayer did not use the correct Social Security number or TIN. Tax terminologies may be perplexing, whether you're a first-time tax filer or have been doing [...]
Filing Taxes in Two States After Moving How does moving affect taxes? Have you relocated within the last year? If this is the case, it is critical to understand how your relocation may affect your taxes. While moving to another state is unlikely to have an impact on your federal taxes, it may have an [...]
CP504 Notice How to pay CP504 online? The Internal Revenue Service (IRS) has a single mission as a branch of the federal government: it collects and accounts for all tax monies owed to the government. The IRS gets all of its authority from the United States Tax Code, and all actions are carried out through [...]
What is a Deficiency Waiver? The IRS notice of deficiency is a legal willpower by the IRS of a taxpayer’s tax deficiency. It is an authorized written claim that a taxpayer owes additional income tax (and often interest on that amount, as well as additional penalties). It is issued when the IRS recommend a change [...]
IRS Notice CP504B Notice of intent to Levy CP504 Before you know how to respond to CP504, it is important for you to know about it in detail lest you end up messing up your matter. If you have received a notice from the IRS in your mailbox, it means that you have some IRS issues. [...]
IRS innocent spouse relief could help avoid additional tax liability, interest, and penalties, but there are fundamental rules for you to follow.Couples are usually seen as partners in crime, perfectly fit for one another. Like two peas in a pod, they are meant to provide the best support to the other half, especially during those circumstances [...]
Several types of debt repayment programs are accessible, including a streamlined installment agreement, partial-pay installment agreements, and “stair-step” installment agreements. Remarkably, while these arrangements are available, each taxpayer must negotiate with the IRS directly to agree on their eligibility. Debt repayment programs can offer great relief to taxpayers. In some circumstances, they can lessen their [...]
1. Important Details Concerning Fresh Start Initiative Remarkably, the IRS Fresh Start Initiative is not just a single program, but rather a series of modifications that the IRS has made to the tax code to reduce tax bills. In fact, the IRS has initiated several programs around the Fresh Start to help struggling taxpayers since [...]
Form Your Business Starting a new business can be really as there are lots of expectations you look up to. It also comes with a decent amount of paperwork, particularly if your company involves employees and payroll, you’ll need to get started on the right footing by having a clear knowledge on which IRS forms [...]
