It started innocently. You forgot to pay taxes for one year, and one year turned into several years. Now, the fees and penalties have accumulated, and you don’t have the money to pay the government what you owe. You are now afraid of an IRS audit and the possibility that you might go to jail.… Continue reading When Will the IRS File Federal Charges Against You?
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The IRS Form 8300 and How it Works
The IRS is the arm of the Treasury Department that collects funds payable to the government. As a taxpayer, you’re required to report your income and also pay taxes voluntarily. However, Uncle Sam won’t just take the word of your taxable income. Through Form W-2, you record your income earned through wages, while the Form… Continue reading The IRS Form 8300 and How it Works
How To Get the Most Out of Tax Write-Offs
Ever wondered if you could pay even less tax than you currently do? If you are an avid follower of the latest happenings in the country, you are very much aware of the constant wranglings between politicians and huge business corporations over the exploitation of tax loopholes. Yes, the super-rich are always looking for ways… Continue reading How To Get the Most Out of Tax Write-Offs
How to Get an Extension to File Your Tax Return
Do you know that every 15th of April, your taxes are due? Yes, that deadline is fast approaching once again, and you might be in a race against time to meet the deadline. However, do you know that there is a way to get an extension that gives you more time to file your tax… Continue reading How to Get an Extension to File Your Tax Return
What You Need To Know About The Offer In Compromise
Tax Debt is a consistent and debilitating problem for many of us. So many of us, both as individuals and businesses are drowning in tax debt with no idea of how we can pay it off. As the pressure of debt continues to build, you may be starting to feel like the IRS is going… Continue reading What You Need To Know About The Offer In Compromise