Like clockwork, tax season is upon us. But for taxpayers who owe multi-year payments plus mounting penalties, it’s an especially expensive and stressful time of year. Owing money to the IRS can be frightening, to say the least. For each day that goes by, more interest and penalties may accrue, wreaking havoc on your finances. […]
IRS woes
4 income tax filing mistakes that could land you in tax trouble
Thinking of preparing your own income tax return this April? You might want to reconsider. Even the slightest oversights might mean hefty fines and penalties that could have been avoided. Watch out for these four mistakes before hitting the “submit” button. #1 Neglecting to report all of your income. Whether it’s your regular paycheck, a […]
What is “Currently Not Collectible” status from the IRS?
Big corporations are known for getting all sorts of breaks, but when average people fall behind, they rarely receive help. When you owe back taxes but can’t afford to pay them, you may qualify for a special tax status known as currently not collectible (CNC). In a nutshell, if the IRS agrees you can’t pay both […]
How the IRS makes your life miserable if you owe back taxes
Have you received a notice from the IRS only to leave it on your kitchen counter, desk, or worse, just hide it under a stack of bills? Unfortunately, those letters from the IRS will just keep coming. Your problem won’t go away on its own. If you don’t take action now, the IRS WILL just […]
3 reasons you shouldn’t talk to the IRS yourself if you owe back taxes
If you owe money to the IRS, it might sound like common sense to try to tackle your tax problem on your own. However, one of the worst things you could do is talk to the IRS directly without proper representation. As an expert tax resolution firm, we encourage all readers facing a tax problem […]