People born in the United States, although people traveling away at a very young age, are often unaware that they are American citizens. The lack of this knowledge in many cases costs many thousands of dollars overseas because of the Foreign Account Tax Act, which forces banks to disclose the identities, accounts and investment income [...]
Are you struggling with tax debt? If you are, you’ve probably heard about the IRS’ Fresh Start Program and may be looking for further information on whether this scheme can benefit you or not. The answer to this question will depend entirely on you and your personal circumstances. But we can get to the bottom [...]
A number of tax deadlines are being extended for individuals, estates, business corporations and other bodies by the Internal Revenue Service and the Treasuring Department due to the on-going corona virus pandemic. Tax payments were originally due on April 15th, 2020 but as a result of the on-going crisis, the IRS has extended/postponed the tax [...]
A tax levy is one of the harshest collection mechanisms used by the IRS and state taxing authorities. A levy is the legal seizure of taxpayer’s assets to satisfy back taxes owed. This is different from a tax lien because a lien is only a claim to your assets while a levy is the actual [...]
This brings us to the matter of how to decide if you need a Tax Advisor or a tax lawyer. A decision can cause a considerable headache to many. Happily, some specific examples can help you determine whether you need a Tax Advisor or the servers of a fully qualified tax lawyer. Reasons to contact [...]
How to stop IRS garnishment of wages? How Can I Get the IRS Garnishment Removed This is one of many ways the IRS uses to garnish wages as a way to collect your unpaid tax debt. Although there are various ways of going after unpaid tax debt like liens and levies, the IRS wage garnishment [...]
If you can't pay your taxes on time in the United States, you may file a so-called "installment agreement" with the Internal Revenue Service (IRS). If the IRS grants the request, the agency will establish a payment plan so that you can make monthly payments on your back taxes. However, before requesting a payment agreement, [...]
During the tax season, people may find that they owe more taxes than they can pay. When this happens, the Internal Revenue Service (IRS) allows taxpayers to establish payment agreements to pay their tax burden. In most cases, the taxpayer must make a deposit and pay interest on the balance. It is important to note [...]
Form 9465 is what you need to fill out for your installment agreement request. The IRS will look over and review your request but don’t be deterred if your first request gets shot down. You are in a negotiation, so fight your corner and only meet an installment agreement that doesn’t put you in financial [...]
The Internal Revenue Service (IRS) and State taxation authorities charge a variety of tax penalties in order to ensure taxpayers remain in compliance with tax law. Typically, the severity of tax penalties assessed depends on the violation at stake. Taxes are generally assessed by computers that in many cases, don’t understand the circumstances that led [...]
