We’ve all heard the quote by Benjamin Franklin “In this world nothing can be said to be certain, except death and taxes”. Yet despite April 15th being on the calendar every single year, and March 15th for business, millions of people find themselves on the IRS hit list for failing to comply with a few… Read More

Not paying your taxes has serious consequences, and one of the worst ones is the federal government filing a legal claim against all property you currently own and property acquired in the future in the form of a federal tax lien.   In this article, we’ll explain what a federal tax lien is and what… Read More

Though our firm specializes in helping people resolve their IRS or State back tax problems, we also love saving money. After all, one of the best ways to avoid getting into tax trouble is to have a solid tax strategy to minimize your liabilities.   The end of the year is the perfect time to… Read More

Owing money to the IRS or State can be daunting, intimidating and throw your life out of whack. You might be tempted to just hide your head under a pillow, but ignoring your back taxes will only make the situation worse. Penalties and interest alone can bury you deeper so it’s important to take immediate… Read More

If you file your taxes electronically and allow the government to deposit your refund directly into your checking account, the Internal Revenue Service promises to refund your money within 21 days. Before 2012, you could get the money sooner through a refund anticipation loan offered by most tax preparers. Major lenders don’t offer RALs anymore,… Read More

For the vast majority of taxpayers, there is not much need to worry that you will be audited. In 2016, only 0.6% of individual income tax returns were audited according to the IRS 2017 Data Book. Why? For starters, the IRS budget has been cut resulting in more than 2,200 fewer agents available to audit returns.… Read More

If you are an employee, you get a paycheck every pay period and most likely pay little attention to your taxes until the end of the year. Your employer does a lot of the work for you and you get a W2 at the end of the year.. However, if you are a freelancer or… Read More

No one wants to pay more income taxes than they are required to, but be careful if you do your own taxes. Attempting to cut your tax liability by getting into IRS grey areas can cause you problems later on. You don’t have to do anything unethical to get your return pulled for an audit,… Read More

Until recently, cryptocurrency investors have mostly flown under the radar as far as taxes are concerned. Now those days are coming to an end, and many holders of virtual currency are scrambling to understand what they owe and how their investments may impact their finances.   The IRS has already requested the identities of those… Read More

If you don’t have money to pay what you owe the IRS, you have a few options to work with. Whatever you do, don’t ignore the letters from the IRS and don’t let your back tax problem go unattended. The IRS has a great deal of power when it comes to recovering money they think is theirs. When you owe… Read More