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 is the Fresh Start Initiative?

February 28, 2017

In 2011, the Internal Revenue Service executed the first of numerous programs that offered collection alternatives to taxpayers struggling with financial hardship due to the 2008-2009 economic crisis. Collectively known as the Fresh Start Initiative, this program aimed to make it easier for taxpayers to settle their tax debits quickly and more easily. The Fresh…
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9 Ways to Resolve Your IRS Tax Debt for Less Than You Owe

February 1, 2017

Are you struggling to pay off your tax debts? Though the IRS can appear very intimidating, the reality is that the agency can be very patient and understanding if it knows you have every intention of paying off your outstanding debts. Here are some ways you can settle your tax debt with the IRS for…
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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 If I Haven’t Filed Taxes in Years?

November 24, 2016

Every year, millions of individuals—roughly 5% of all taxpayers—fall behind on filing taxes for various reasons. The reality, however, is that failing to file a past tax return can have serious consequences—such as the IRS levying your bank account or wages or filing a federal tax lien against you. If you haven’t filed your taxes…
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What If I Have Tax Debt During Retirement?

November 10, 2016

Most people work hard all their lives to enjoy the fruits of their labor during their golden years. But what if you are facing tax debt during retirement? Can you still protect your assets in your old age? The good news is that when it comes to retired senior citizens dealing with tax debt, the…
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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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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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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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