PROS AND CONS OF IRS INSTALLMENT PLANS   If you are an individual or business owner with significant tax debt that you are financially unable to pay, you may be eligible to enroll in an installment agreement with the Internal Revenue Service. An installment agreement is essentially a payment plan [...]

IRS stands for National Internal Revenue Service and allows taxpayers to repay debts little by little through installment agreements. Since the taxpayer repays the debt through an installment agreement, interest may also need to be paid. The interest rate is usually between 8 to 10% a year. Therefore, if a [...]

Most filers eventually get their taxes returned to them every year. But what if you land in the opposite scenario? If you owe the IRS money and the amount is too large and you do not understand the idea of ​​paying back the money. If you are staring at a [...]

The shutdown of the Economy caused by the on-going pandemic brought about a heavy blow to both companies and individuals, so the United States Internal Revenue Service (IRS) launched a series of financial rescue plans. Recently, the United States Internal Revenue Service launched three new tax credits policies specifically designed [...]

HOW TO FILE FORM 4868 We will be looking at when and how to get more time to prepare personal and business taxes. WHAT IS IRS FORM 4868? IRS Form 4868 is an IRS extension form that you will have to file with the IRS when you are required to [...]

There are several reasons why the IRS can pay you a surprise visit out of the blue. To avoid this, we should be careful how we handle our taxes, personal and business income. Here are some reasons why the IRS can start looking into you; INCORRECT BASIC INFORMATION The IRS [...]

This shows details on how the IRS is helping taxpayers during this pandemic with an overview of their operations: Taxpayers who are applying for a refund are encouraged to submit electronically soon and choose direct deposit to receive a refund within less than 21 days. This is faster compared to [...]

It is important to make sure your tax extension application is accepted, be it individual or business tax extension. The IRS does not reject many tax extension applications but there are several reasons why they will not accept tax extension applications. Reasons why the IRS will reject a tax extension [...]

Millions of taxpayers in the United States go to tax preparers to report to the Internal Revenue Department, better known as the IRS. Before going to the places where taxes are being prepared, it is important to do some research. You cannot just meet anyone to prepare your taxes for [...]