Taxes can be a serious burden and many Americans seek out taxes owed forgiveness to help manage their obligations. Before seeking out a taxes owed relief program or sinking cash into the first attorney that makes an offer, review this guide on what everyone needs to know about getting started with taxes owed forgiveness. Does ... Read More
Tax Settlements
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
Owe Taxes from 10 Years Ago? The IRS May Still Collect
There are several reasons why a person might owe the Internal Revenue Service. This may include a financial hardship that hinders your ability to pay tax liabilities or failure to file your yearly tax returns. Regardless of the cause, when you find yourself on the receiving end of an IRS collection notice you have a major ... 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
Spotting Tax Settlement Scams
If you find yourself in the unenviable position of owing the Internal Revenue Service (IRS) taxes and are looking for help in paying or reducing the taxes owed, use caution before enlisting the help of a company that offers tax relief services. The IRS is sometimes willing to negotiate taxes owed through their Offer In ... Read More
Types of Tax Experts and When to Use Each One
With so many types of tax professionals some people have a hard time understanding when each one can help them out. Although all tax professionals offer benefits, some are better for particular situations. It is imperative that you hire the proper person for the task that you are trying to accomplish. Below are four types of ... Read More
3 Common Tax Relief Methods if You Can’t Pay Your Taxes
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 their tax obligations. For this ... Read More
Use Tax Experts Instead of a Liability Settlement Firm for Tax Problems
With liability becoming a large problem not only for individuals, and businesses there has been a proliferation of liability management and liability settlement companies promising to reduce your liabilities by saving you thousands in interest and penalties. Moreover, many are even claiming to be tax experts or IRS tax ... Read More
IRS Gives Tax Evaders Until October 15th to Fess Up
A couple days ago, the IRS extended their deadline for taxpayers with hidden offshore accounts to voluntarily come forward and report any account over $10k. This pushed back the deadline from September 23rd to October 15th, 2009. Remember, as a US taxpayer you need to file a tax return and report income whether working abroad, ... 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
UBS to Hand Over Names; Swiss Government Allows IRS to Probe Banks
If you haven't been following, the IRS vs UBS civil case was to be taken out of court with a tax settlement and the disclosure of UBS clients to the IRS. In February, UBS agreed to pay $780 million and disclose the names of 250 clients suspected of tax evasion. Most recently, UBS in cooperation with the Swiss government, ... 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
