If you’re in a tight financial spot and can’t afford to make your monthly IRS installment agreement payments, you may qualify for one or more types of tax relief. The IRS People First Initiative has suspended the requirement to make payments on existing installment agreements until July 15, 2020, which means you can temporarily ... Read More
Installment Agreements
IRS People First Initiative: Helping Struggling Taxpayers Details
As efforts to flatten the contagion curve of coronavirus close businesses and schools across the country, many people are watching their paychecks disappear, their investments fall, and their sense of security slip away. The IRS is aware of the intense effect the coronavirus is having on families, and to help; the agency has ... Read More
IRS Falls Short on Collecting from Delinquent Taxpayer
The last thing you want to find in your mailbox is a notice from the IRS telling you that you owe additional taxes. You could ignore it and hope it'll go away but chances are, Uncle Sam will try to collect on the taxes at some point. If you're worried about having your wages garnished or getting hit with a lien for unpaid taxes, ... Read More
IRS Eases Up On Taxpayers Who Owe Taxes or Back Taxes
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 ... Read More
Why an IRS Payment Plan is Not Always Best If You Owe Taxes
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. How an IRS Payment Plan Works An IRS Installment Agreement or an IRS ... Read More
Having Trouble Paying Your Installment Agreement with the IRS?
So, you've entered into an installment agreement with the IRS and now realize that you are unable to pay, what do you do? First off, don't panic or become discouraged- the economy is extremely volatile and tough economic situations are understandable- even to the IRS. Take a moment to consider your situation, and how you arrived ... Read More
How an IRS Installment Agreement Could Hurt Credit if IRS Secures It
Do you owe tax money to the IRS? Have you been trying to figure out how you are going to pay your bill? Did you know that ignoring your bill could lead to dire consequences? You need to take action quickly and determine how you are going to pay it. One option is to set up an IRS tax installment agreement. An IRS installment ... Read More
What If the IRS Denied My Installment Agreement Request?
The IRS can be picky when making determinations to approve taxpayer's request to pay the IRS over time when they owe the IRS over $10,000. If the information is not complete or the IRS believes it is inaccurate, it is very likely that they will deny the installment agreement. Here are some common reasons for ... Read More
Tax Services: Use a Large, Nationwide Firm or Small Local Firm?
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 your tax situation is should ... Read More
