Last Thursday, IRS commissioner Doug Shulman announced a new set of initiatives to help taxpayers struggling to pay their taxes or pay off back taxes in this lackluster economy.  Sometimes IRS enforcement actions (e.g. tax lien) can bury the taxpayer further which lessens not only their ability to climb out of the hole they are in, but [...]

The option to use an IRS Installment Agreement helps many people pay taxes they owe when they don’t have enough cash available to pay the owed taxes all at once.  There are many disadvantages and advantages to using an installment agreement to pay the IRS.

Taking money out of a 401K for something other than your retirement isn’t easy, but there are some situations that allow you to access the funds

In an ideal world when it comes time to file your income tax return you would break even or if you are lucky receive a tax return. That is not the case for all individuals and as is often the case a tax bill is due that you are not able to pay in full [...]

When you finish filing your tax return you may find that you owe the IRS money. If you then find out that you cannot pay these taxes in full, this is not a good position, but all in all, one that you can work with. Of course, you need to pay your debt sooner rather [...]

When you can’t pay your taxes on time or in full you have various options available to you. This year, more than ever, taxpayers are receiving tax bills that they are unable to pay. The IRS is well aware that there are situations that arise that will make it difficult for everyone to comply with [...]

Former NBA star Robert Traylor has about 13 days to set up a payment plan with the IRS for the $178,000 dollars that he owes or he could go to jail for 60 days, according to The Boston Herald. US District Judge Avern Cohn stated that if he doesn’t set up the payment plan (most [...]

If you have tax problems and are looking for professional help it is important to find a reliable tax company to help. There are many companies out there that can help, large and small. Both large and small companies have their benefits. Depending on what you are looking for in a tax company and what [...]

As you know, the economy is affecting millions of people in a number of different ways. Some are losing their homes, others are losing their jobs, and many are finding it difficult to pay the taxes that they owe the IRS.