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 [...]
Many IRS terms and codes continue to be a head scratcher to the typical taxpayer. Tax terminologies may be perplexing, whether you're a first-time tax filer or have been doing so for years. IRS Code 9001 is a common error code, although many individuals are unaware of its meaning. We'll look at IRS Error Code [...]
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 impact on your state taxes. If you haven't moved but live in [...]
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 a variety of notices and forms. One [...]
IGNORING THE IRS NOTICE OF DEFICIENCYThe 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 [...]
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. You should not panic about them. You can easily [...]
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 [...]
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 are appropriate for [...]
