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
Tax Law Changes
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
What’s Really at Stake if the Proposed Estate Tax Is Repealed?
Tax reform is coming, and it could happen very soon now that GOP lawmakers in both the House and Senate have agreed upon a reform plan. Depending on whom you believe, the changes will help all taxpayers, or they will just make the rich, richer and give even more tax breaks to large corporations. But no matter whom you believe, ... Read More
Republican Tax Plan Released – Controversial Items Explained
It's finally here! No not Christmas, but that is just around the corner. I'm not talking about tax season either. The "it" I'm referring to is the Republican tax reform plan. House Republicans released their long-awaited tax plan last week and as one might expect there is a lot to digest. So let's take a look at the some of the ... Read More
What’s the Deal With the IRS’s New Tax Liability Collectors?
This spring, the IRS started working with some private liability collection companies. The program is in its early stages, but there are already reports of problems. If you owe money and you've received a call, here's what you need to know. Scams Versus Legitimate Liability Collectors Currently, there are scam artists who call ... Read More
What Does the New Colorado “Amazon” Tax Mean for You?
Who doesn’t love Amazon? Except for a few holdouts that still don’t feel safe sharing their personal payment information online, and a few others that think the Internet is really just a big front for the government to spy on us (apologies if you’re in this category, but if you are then you won’t see this anyways), everyone ... Read More
Fresh Start Initiative: Program Helping Those Who Owe the IRS
Who doesn't like a fresh start? Sometimes it's a new job in a completely different industry? Perhaps, you've had it with your current significant other, or maybe you're ready to bolt your living quarters and start all over somewhere else. There's nothing quite like that feeling of rinsing yourself off, so to speak, and starting ... Read More
Will Trump’s New Healthcare Bill Impact Your Taxes?
Since President Trump and his administration took office in January there has been much hubbub about the Affordable Care Act, otherwise known as Obamacare. Of course, this was a hot topic throughout the campaign and it has remained on the forefront of the new administration’s agenda since they took control of the White House. ... Read More
Will the Middle Class Actually Pay More Taxes Under Trump?
Lower taxes for everyone! It was one of the main the rallying cries of our new President on the campaign trail. Make no mistake, Donald Trump has made it clear that he plans to lower taxes, and with both the Senate and Congress in Republican control there’s little doubt that tax changes are coming. Throughout his campaign and ... Read More
Top Tax Changes to Expect Under Donald Trump
Since Donald Trump is now our President, it is time to start thinking about how a Trump presidency is going to affect you; specifically your taxes and your bottom line. Taxes and tax policy were a huge part of the election and Trump has made it clear he has big changes in mind for our country’s tax policy. He’s also made plenty ... Read More
Which Presidential Tax Plan Will Affect You the Most?
Are ready for this election to finally be over? Whether you vote for Donald Trump, Hillary Clinton, a third-party candidate or even a write-in, most Americans will just be glad they don’t have to hear about it every time they turn on the TV, look at the Internet or pick up a magazine. Almost all elections, especially ... Read More
How Would Hillary Clinton’s Tax Proposal Affect You?
It looks as though Hillary Clinton and Donald Trump are the last two candidates standing from both parties for the November presidential election. Love them or hate them, it appears that one of them will likely be the country’s choice to take over the oval office next January. If you’re wealthy, then who you vote for will likely ... Read More
