The Detroit News reported yesterday that former wrestler Steve Austin owes over $22,000 in back taxes to the state of California. With the economic downturn and with states and the federal government having budget shortfalls, non-compliant taxpayers are less likely to slip under the radar. LA County filed a tax lien against ... Read More
Federal Tax Levy: Steps to Resolution with the IRS
Every year, thousands of letters are sent out letting taxpayers know that the Internal Revenue Service means business. These letters (CP 90/CP 297), in consideration, are often referred to as an IRS Intent to Levy. A Federal Intent to Levy means that the IRS is going to try to recover or collect back taxes in a more coercive ... Read More
How to Handle Filing IRS Back Taxes
Do you owe the IRS back tax returns? Are you moving slowly in fixing this problem because you don’t know what you are doing? When it comes to filing IRS back taxes you may be surprised at just how easy it can be. This doesn’t mean you don’t have work in front of you, though. There is a lot you need to do in order to handle ... Read More
Amending a Tax Return: What to Know and How to Do It
If you have made a mistake in a previous tax return filing, you can "correct" the situation by amending a return. In other words, an amended return is for taxpayers who need to make a change or adjustment on a return they ALREADY filed. However, realize you cannot amend a tax return if it has been three years since you last ... Read More
Methods to Negotiate Taxes Owed for Less
When it comes to owing the IRS taxes, if you cannot afford to pay, you will typically be forced by the IRS to pay the total amount you owe plus additional late penalties and interest on those taxes. Even if you enter into an installment agreement with the IRS they will still charge you additional interest, therefore you end up ... Read More
