No one wants to receive a call out of the blue from the IRS, but perhaps an even worse call is one that comes from a liability collector. Liability collectors have a terrible reputation and in most cases, it’s a reputation that they have rightfully earned. Now just imagine getting a call from a liability collector that is ... Read More
IRS Back Taxes Jokes, Funny Pictures and Stories
Jokes that the IRS Doesn’t Want you to Know Get Screwed Every Year There was a man who computed his taxes for 1997 and found that he owed $3407. He packaged up his payment and included this letter: Dear IRS: Enclosed is my 1997 Tax Return & payment. Please take note of the attached article from the USA Today newspaper. ... Read More
Miss the October 15th Filing Deadline? How to File After the Deadline
If you requested an extension to the April 15 deadline (4/17 in 2012 & 4/18 in 2011), you have until October 15 to file your return. While not ideal, some people miss the second deadline and find themselves in a compromising position. With this in mind, you should still remember that filing after October 15 (10/17 in 2011) ... Read More
Owe Taxes with a 401K Withdrawal
As you know, there are many tax benefits of contributing to a 401K. With this in mind, you should also know how the withdrawal process works, when you can get your money, penalties that may arise, and how to pay back the IRS if you find that you owe more in taxes than you can handle. The biggest benefit of a 401K is that you do ... Read More
When a Family Member Dies and They Owe Back Taxes
Benjamin Franklin was right when he claimed there to be only two certainties in life: Death and Taxes. But even still, many individuals with taxes owed are clueless about what it really means. Tax liability can become an issue for the family even after the liabilityor passes. Tax Liability will not truly become the ... Read More
Filing US Tax Returns & Resolving IRS Issues If Overseas or Abroad
Many people believe that a US citizen gets a free pass if he/she works outside of the US. However, whether you are working in the United States or you are overseas, you generally have to file a US tax return being that you are still a US citizen. The amount of money you made, your filing status, and age all play a part in ... Read More
Settle Taxes Owed by Paying in Full – Settle IRS Back Taxes
This may seem like the most obvious method of tax settlement and even if you can’t pay the amount in full you may be able to with a little thinking outside of the box. Settling taxes owed by paying in full is a good idea because you will not have to pay the additional interest amounts like you would if you set up an IRS payment ... Read More
How to Reduce Taxes Owed to the IRS
When you owe money to the IRS they are going to come after it soon enough. Instead of waiting for the collection process to start, you are much better off getting ahead of the game and straightening everything out on your own. The IRS offers various alternatives to reduce taxes owed if the amount cannot be paid in full. The ... Read More
Delinquent Taxes & Federal Returns – Definition and How To Resolve
Delinquent Taxes - How To Resolve Federal / IRS Income Tax Resolving delinquent taxes is not impossible. Just because April 15th has come and gone without filing your return does not mean that you are out of luck and in trouble with the IRS. Knowing how to resolve delinquent taxes is something that will help you handle this ... Read More
What If You Can’t or Fail to Pay Back Business Payroll Taxes?
Many companies fall behind on payroll taxes when they spend the money owed to the IRS on other expenses needed to keep the businesses running. Unfortunately, the IRS doesn't necessarily care about the reasons why the taxes haven't been paid; the primary concern of the IRS is to collect every penny of the payroll taxes that you ... Read More
IRS Audit Letter: What Do I Do If I Receive an Audit Notice?
So, you received an IRS audit letter? This is not the type of letter that you want to receive from the IRS. Simply put, it means that you are being audited and any mistakes could possibly come back to bite you. Did you know audits can actually go both ways? You can be audited and have the IRS owe you money after it is over. Say ... Read More
What Do Tax Resolution Companies Do?
Do you fully understand the benefits of working with a tax resolution company? A proper understanding of what a tax resolution firm can offer is crucial to determining whether or not to hire one. While you may be able to handle your tax problem on your own, there are some issues that require the help of a tax professional to ... Read More
