Even though we are in the midst of the coronavirus pandemic, and the tax filing deadline has been pushed back, millions of Americans who are required to file their tax returns will get a surprise…
3 Reasons to Resolve Your IRS Tax Debt Now
Do you owe money to the IRS? If you do, you’re not alone. The Internal Revenue Service (IRS) found that more than 14 million Americans owed over $131 billion in back taxes, penalties, and interest…
How to Qualify for First Time Penalty Abatement
The Internal Revenue Service imposes millions of dollars in tax penalties every year. In Fiscal Year (FY) 2018, the IRS collected more than $55.5 billion in unpaid assessments on returns filed with additional tax due,…
IRS Transcripts: What Are They Are and Why Are They Important?
An IRS transcript is a record of your tax returns from previous years.[1] This summary or overview of your tax return information is available in five different types of reports. They include most line items…
How to Handle Tax Bills When Money is Tight
For many of us, our budgets have been pushed to the limit due the impact of the coronavirus. Because of this, tax bills may present a challenge this year. However, many states and the federal…
How to Request an Extension for Filing Your Taxes
To file for an extension on your federal income taxes means that you are informing the Internal Revenue Service (IRS) that you will not be able to file your income tax return by the April…
Eliminating IRS Back Taxes
If you have a problem with the IRS, one thing is certain - it's not going to go away by itself. Ignoring it is not an option, and each day you delay confronting the issue…
Dealing With an IRS Audit
Filing a tax return is a responsibility that all people need to follow to stay compliant with the IRS. While most people will be able to file their taxes and receive a tax return, those…
I Received a CP90 – What Now?
A letter from the IRS is rarely a good thing. One of the worst missives to get from the tax man is the CP90 – Final Notice Before Levy. It is a final warning shot to…
The IRS Fresh Start Initiative
The Fresh Start Initiative, introduced by the Internal Revenue Service (IRS) in 2012, enables qualified individuals an extension on paying overdue taxes. Typically, those enrolled in the program are unemployed or face other challenging financial…