If you run your business under a limited liability corporation (LLC), you have additional options when it comes to how the IRS taxes your profits. Your decision will have a direct impact on the tax filing laws that apply to you. There are no special tax laws for LLCs; the [...]

A tax negotiation allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability, or doing so creates a financial hardship. We consider your unique set of facts and circumstances:Ability to payIncomeExpensesAsset [...]

Since each state has its unique regulations and standards for how citizens must file taxes, where you file affects your path to resolving a state tax problem. The important thing to remember is that most states have tax rules and processes that are essentially comparable to those of the IRS. [...]

If you have a lien on your property or are in charge of a project, you're definitely under a lot of stress. Financing may become challenging. It's possible that the planned deal may fall through. Alternatively, the project manager may be breathing down your neck. In any case, you're concerned [...]

Taxes are already difficult, and if you fall behind on them, things may get out of hand. When taxes are delinquent or overdue — usually from previous years — they are referred to as "back taxes," and if you owe them, you may be wondering about tax relief. Here are [...]

 What are state taxes? A state income tax is a direct tax imposed by a state on income produced within or outside of the jurisdiction. It may mean all of your money generated wherever in your state of residence. State income tax, like federal tax, is self-assessed, which means [...]

You may be required to submit more than one state income tax return if you work in one state and live in another. This is frequent for remote employees, but it also applies to employees who travel across state lines to get to work. Other factors, such asrelocating throughout the [...]

 A levy is the legal sale of property to pay off a loan. If a person fails to pay his or her taxes, the International Revenue Service may collect the person's tax return or property. Other assets, such as a bank account, rental income, or a retirement account,might also [...]

1099 Form Feeling lost in the tax maze? Many people find the IRS Form 1099 especially confusing. Whether you're a freelancer, landlord, or business owner, understanding this form is important. This guide breaks down everything you need to know in plain English. Let's explore IRS form 1099 and shed some [...]