Dealing with tax debt and the penalties that come with it can be overwhelming. The IRS estimates that the number of taxpayers penalized for miscalculating or underpaying their taxes has risen to nearly 40%, so you are not alone if you are in this situation. When you owe money to the IRS, the collection process… Continue reading How to Write a Penalty Abatement Letter
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What is Tax Negotiation and Tax Relief?
As much as we endeavor to be compliant citizens and file our taxes honestly and accurately, sometimes we make mistakes in our paperwork, and key information is misconstrued. Maybe you forgot to declare some freelance income because you didn’t receive a 1099 form, tried to write-off more business expenses than the IRS would accept, or… Continue reading What is Tax Negotiation and Tax Relief?
9 IRS Tax Resolution Options That Work
The IRS collection process and the penalties that accompany it can be stressful and overwhelming. The IRS recently estimated that the number of taxpayers penalized for underpaying their estimated taxes has risen nearly 40% in just five years. In 2015, 10 million tax filers were penalized for either miscalculating what they owed and underpaying or… Continue reading 9 IRS Tax Resolution Options That Work
3 Ways to Find Out How Much You Will Owe the IRS
You may know that you owe the IRS money, but do you know exactly how much you owe? Maybe you’ve received correspondence from the IRS in the mail stating that you owe a debt, but it’s not clear how much it is. The trouble with the paperwork that the IRS sends out is that it… Continue reading 3 Ways to Find Out How Much You Will Owe the IRS
How to Qualify for the IRS Fresh Start Tax Program
The Internal Revenue Service (IRS) occasionally find ways to assist taxpayers in paying back the tax debts they owe the government. The Fresh Start Tax Program (FSP) is one such effort. First announced in 2011, the program was designed to make it easier for individuals and small businesses to get out of IRS tax debt.… Continue reading How to Qualify for the IRS Fresh Start Tax Program