How the IRS Decides Your Ability to Pay When You Owe Taxes If you owe the IRS money, you’re probably constantly thinking about it. Worrying about your tax debt can be stressful and overwhelming if you know that you don’t have a way to pay it off. Many taxpayers are surprised to learn that the …
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Your Question Answered: How to Find Out How Much I Owe the IRS “How much do I owe the IRS?” If you’re asking this question, time is probably already of the essence. There’s no hiding a tax debt from the IRS, even if you haven’t filed taxes for the year you owe payment for yet! …
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Do you need a tax lawyer? Admittedly, it’s not a question that anyone looks forward to asking. However, the reality is that knowing when to hire a tax attorney can potentially save you from lots of needless legal trouble and IRS fees. You may be looking at some telltale signs that it’s time to get …
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Can the IRS take your paycheck if you owe late taxes? Unfortunately, the IRS can claim a part of your income through something called an IRS wage garnishment. One of the frustrating features of a wage garnishment is that the IRS will contact your employer directly to have your earnings redirected. Fortunately, the situation isn’t …
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One of the big things tax experts see time and time again is the way that fear of the IRS can cause people to miss out on opportunities to properly handle tax problems before the situation becomes critical. If you owe back taxes, the situation may not be as bleak as you think. A tax …
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While serious, a tax levy isn’t necessarily unstoppable. You may be concerned if you’ve received an IRS levy notice. Taxpayers have a number of options when faced with the possibility of a levy. First, it’s important to file on time and pay all owed taxes if your goal is to avoid getting into levy territory. …
Any experienced tax preparer will tell you that tax season isn’t an event. Tax “season” should be the lens that you view your finances through all year long. Let’s talk about how to prepare for tax season in a way that keeps you ready and shielded. Even a person who feels confident about filing their …
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Tax lingo doesn’t come naturally to people who don’t work for the IRS. That’s one of the reasons why there’s some confusion regarding the difference between a levy and lien. The two terms are not interchangeable. However, they are linked. Let’s break down what there is to know about these IRS penalties that should never …
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The first step to getting a tax debt paid off, reduced, or forgiven is to simply get on the same page as the IRS regarding how much you owe. Unfortunately, you may have fewer options at your fingertips if you wait until the IRS alerts you to the fact that you owe money. Let’s talk …
What does a Freedom of Information Act (FOIA) request have to do with your taxes? You might assume that an FOIA request is something that only happens in big court cases. However, this resource can be beneficial if you’re managing a tax issue with the IRS. Taxpayers use documents obtained through FOIA requests all the …
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