Help for Your Tax Problems
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- July 21, 2020
Understanding Tax Penalties
Tax Day is the date by which you need to submit your individual tax return to the IRS (usually April the 15th each year). If you have all the money to pay your liability, then all is great. But, what happens when you lack the necessary funds? In this case, the IRS may charge tax […]
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- July 21, 2020
Understanding Tax Liens
If you owe back taxes, tax liens (and their siblings, tax levies) can affect you seriously if you don’t take proper action. In this guide, we give you all the details you need to know about tax liens, as well as ways to remove them if you get caught in their net. What Is a […]
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- June 15, 2020
Tax Relief: What It Is and How It Works
A relatively recent government study showed that more than 20% of tax filers had a 2018 IRS tax bill. This means that one out of every four Americans may not have had enough taxes withheld in the 2018 fiscal year. Things can get quite challenging for taxpayers who owe taxes but have no money to […]
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- June 15, 2020
IRS Audits: What Cause Them and How to Handle Them
Round numbers, deduction overkill, and math mistakes can raise some red flags that may bring the IRS knocking on your door, wanting to double-check your numbers to ensure you don’t have any return-related discrepancies. Whether an IRS or state audit, there is no reason to worry, provided that you are telling nothing but the truth […]
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- May 14, 2020
IRS Offer in Compromise: What It Is and How It Works
Offer in Compromise is an IRS program that enables taxpayers to get a fresh start with the Internal Revenue Service. In doing so, they have the chance to settle their tax liability for less than the overall amount of money they owe. Therefore, if you are struggling to pay your federal or state tax liability, […]
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- May 11, 2020
What is the IRS Fresh Start Program: An Introduction
The IRS Fresh Start Program is nothing new. The program dates back to 2011. It gives taxpayers and small businesses burdened with first-time tax liability an opportunity to get out of liability while also avoiding tax liens. Over the years, it has undergone significant changes. The majority of the provisions outlined in the initiative are […]
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