Understanding the IRS Fresh Start Program

April 15, 2017

No taxpayer likes getting on the wrong side of the Internal Revenue Service. After all, the penalties for falling behind on IRS tax obligations can be severe, and may include collection methods such as garnishments, tax liens, levies, and even criminal sanctions.  The Fresh Start program, an initiative first announced in February 2011, is a…
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What Properties Are Exempt From Seizure?

December 8, 2016

Are you behind on paying your taxes? Taxpayers who are unable to pay their taxes can expect to receive a series of notices in the mail, accompanied by a detailed set of instructions outlining their taxpayer rights. Exemption issues can generally be resolved easily, but taxpayers with large balances on their returns can eventually face…
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What You Need to Know if You Get a Letter in the Mail from the IRS

September 6, 2016

Every year, the Internal Revenue Service sends out millions of letters and notices to taxpayers across the country. Did you receive a letter from the IRS in the mail? Here are some important tips to keep in mind: Stay calm. Your first instinct may be to panic when you receive mail from the IRS, but…
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What Happens If I Miss the Tax Deadline?

August 26, 2016

At some point, most people have been tempted to delay the tedious task of paying taxes at least once in their lives. Did tax season slip your mind completely? What happens if you didn’t file your taxes this year? There are several things you need to know if you file your taxes late. The first…
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How Do I Stop the IRS From Seizing My Property?

August 9, 2016

The IRS utilizes various tools and collection activities to collect unpaid taxes, such as a tax levy. Examples of tax levies are the seizure of wages, bank deposits, commissions, tax refunds, homes, cars, and other assets with value. The most drastic and uncommon form of tax levy is the seizure of the taxpayer’s property or…
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What Happens If You Die While in Tax Debt?

July 28, 2016

As much as you may not want to think about it, death cannot be avoided. But what happens to the debt of the deceased? Will you, for instance, be held responsible for your parents’ debt after they die? Is it possible to pass on your own debt to your children? When you pass away, your…
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6 Myths on IRS Tax Audits You Shouldn’t Believe

June 13, 2016

The IRS tax audit is one of the most dreaded scenarios in the entire tax filing process. Most tax audit concerns, however, are unsubstantiated. To ease your fears, here are some of the common myths you shouldn’t believe when it comes to tax audits: 1. The auditing process is scary. The auditing process is widely…
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Can the IRS Make Changes to My Installment Agreement?

June 1, 2016

Have you and the IRS arrived at a monthly payment plan due to your inability to immediately pay your taxes in full? While entering into a partial pay installment agreement with the IRS provides a taxpayer with much-needed relief, the reality is that such relief may only be temporary. Unknown to many is that the…
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Knowing a Taxpayer’s Rights in an IRS Audit

May 15, 2016

Knowing a Taxpayer’s Rights in an IRS Audit In order to protect the best interests of the taxpayer, Congress passed two Taxpayers Bill of Rights in the 1990s. To exercise these rights, however, you must first know what they are. Here are some of the important rights you should be aware of in case you…
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Pros and Cons of an Offer in Compromise

March 23, 2016

If you are having a difficult time paying off your taxes, you may seriously be considering the Internal Revenue Service’s offer in compromise program. Before submitting those forms, however, it may be best to take a closer look at the pros and cons of this program to see if this is truly the best option…
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