Despite the IRS being slammed right now due to COVID-19, millions of Americans still owe money to the IRS in back taxes for previous years and they’ll increasingly find themselves unable to pay up all at once. In this article, we walk you through IRS installment agreements and what to do if you can’t afford… Read More
COVID-19 is affecting millions of Americans in all aspects of their life. As of the beginning of May, 1 million Americans tested positive for the disease. A much more striking number is the number of people whose finances have been shred to pieces with the prolonged shut down and “stay-at-home” orders. In just the first… Read More
Tax Relief and COVID-19 Much like a natural disaster, the coronavirus took the world by storm and forced everyone to seek “shelter at home” and to change their daily habits in an effort to “flatten the curve”. This meant shutting down businesses and within a week, millions of Americans found themselves out of a… Read More
COVID-19 turned the world upside down. With most of the country shut down, businesses closed, and people forced to “stay-at-home” in order to keep everyone safe, it was just a matter of time before the IRS postponed tax day. On March 21, 2020, the IRS announced that they’d be delaying the tax filing deadline… Read More
How to Protect Yourself When Paying Taxes – Vital Steps You Need to Take Now Tax season can be an unpleasant time of year for a lot of taxpayers, especially if you owe money to the IRS or State. The only thing you can do is make the most of it, prepare ahead of… Read More
After years of flying under the radar, taxpayers who hold Bitcoin, Ethereum, Litecoin and other cryptocurrencies are finally getting their fair share of scrutiny from the IRS. The tax agency, it seems, has figured out that cryptocurrency is here to stay, and that the mind-boggling returns early adopters have enjoyed could be a boon for… Read More
Of all the creditors or companies you might owe money to, the Internal Revenue Service can be the least forgiving about debt. If you don’t pay your taxes, the IRS will levy and take possession of your property, including cash accounts, wages, and real and personal property. The IRS will sell non-liquid assets to raise… Read More
How Can I Pay My Federal Taxes With Installments or Monthly Payments? Every year, there are millions of taxpayers who find themselves unable to pay their taxes in full to the IRS. The IRS knows there will be some taxpayers coming up short. The good news is the federal government is happy to work… Read More
3 Tax Resolution Strategies the IRS Offers Taxes are a fact of life, but tax problems shouldn’t be. If you find yourself in tax trouble, the IRS has clear plans for how to proceed in collecting what they believe you owe. After sending you notices, the IRS can garnish your wages, levy your bank account,… Read More
Running your own business means wearing a lot of hats, from office cleaner and supplies buyer to client schmoozer and payroll maker. But should you add tax preparer to your already long list of duties? What if you have a tax problem with the IRS? What if doing your own taxes creates a tax problem?… Read More