What is IRS Form 8300?Formulario 8300Form 8300 must be completed if a person engages in trade or runs a business and transacts more than $10,000 in cash in a single transaction. The Internal Revenue Service and the Financial Crimes Enforcement Network (FinCEN) use the Form 8300, Report of Cash Payments [...]

What is a Lien?A lien is a legal term that refers to a claim of legal right against assets that are used as collateral. A LIEN can be created by a lender or a court decision. A lien is utilized to provide a fundamental assurance on a major obligation. If [...]

Filing a tax return is an annual practice for most taxpayers, but not everyone is required to do so. In general, if your income is below a specific threshold, you may not be required to file a tax return with the IRS. Here's how much you have to earn to [...]

668zIRS Form 668 zWhat is IRS Form 668-Z?When a lien is satisfied or otherwise discharged, the taxpayer receives Form 668Z, Certificate of Release of Federal Tax Lien. The IRS will utilize Form 668-Z to notify you of a partial discharge of a lien that has been filed. This is a [...]

 Even the most conscientious small company owner can fall behind on their tax obligations. Every year, many are unable to pay the Internal Revenue Service on time due to unanticipated delays, fees, and other financial challenges. Regardless of how you accumulated the tax obligation, it is critical that you [...]

Types of GarnishmentsWhat is Paycheck Garnishment?"a court-ordered attachment that allows a lender to take monies owed directly from a borrower’s paycheck process of taking something back for failure to make payments a legal procedure for dealing with debt problems of individuals and businesses process by which the holder of a [...]

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 [...]

IRS Reference Number 9001What 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 [...]