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
Tax Blog
When to File a Late Tax Return or Request a Tax Extension
April 15th is the normal deadline to get your income taxes filed with the IRS. You can always request an automatic 6-month extension, which gives you until October 15th to file your taxes using form 4868. Be aware, that if you elect to to extend your filing deadline, it is not an extension to pay. In fact, if you push off your ... Read More
How to Cheat on Your Taxes
Well, I'm not actually going to tell you how to cheat on your taxes, but I will tell you the most common ways used to cheat on taxes and why you will likely get caught if you attempt to use any of these methods. The IRS system is getting more and more efficient at catching tax cheats each year. There is a chance you can get ... Read More
Crow Creek Sioux Tribe Buys Back Land IRS Seized & Auctioned
It was reported today by USA Today that Crow Creek Sioux Tribe (CCST) in South Dakota has settled with the IRS and has obtained a loan to buy back 11.1 square miles of land the IRS seized and auctioned off last December when the CCST failed to pay about $3 million in employment taxes, penalties and interest. It was confirmed ... Read More
Why Will You Owe Taxes If You Settle Liabilities or Become Unemployed?
Many Americans, believe it or not, who become unemployed or settle liabilities can be stuck with a State and/or Federal tax bill. It seems crazy that anyone facing such financial difficulties would be asked to pay taxes but this happens for many reasons. Unemployment Compensation There are many ways you could end up paying ... Read More
What if the IRS Filed My Tax Return for Me?
The IRS can legally file a tax return on your behalf which is called a Substitute for Return (SFR). If this happens, you most likely will not be getting the benefit of the doubt on anything. The IRS will likely only estimate your tax liability using old W-2 & 1099 forms. They may also just use statistics of income in your ... Read More
What Can Happen vs. What Will Likely Happen if Taxes Aren’t Filed
Having unfiled taxes when you owe the IRS money is a very serious situation. Unfiled taxes are the quickest way to get very large tax penalties and in some serious trouble. The IRS does have the power to enforce some very harsh punishments on individuals but it is not standard practice for them to do this. The IRS will look at ... 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
When Can I Stop Worrying About Getting Audited?
Tax audits are becoming a more common occurrence these days as IRS computer systems are getting more powerful and efficient at detecting problems with tax returns. The IRS has a complex system that matches what taxpayers report on their tax return with what others claim to have paid those individuals (information returns ... Read More
Tax Relief for Disaster Victims
After a disaster it is safe to say that bills and other expenses can begin to add up fast. In this case, you need to know where you stand from a tax point of view. Believe it or not, there are many tax relief options for disaster victims. If you do not take full advantage of what the IRS offers you are making a mistake. Why not ... Read More
