5 Tips for Getting Rid of Tax Debt Once and For All
KEY POINTS Communication with the IRS is essential to avoid additional penalties and interest. It's important to understand what you owe...
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- Jan 26
4 Things To Do When The IRS Sends You A Notice Or Letter
The 2023 tax season is here! Taxpayers all over the nation are gathering necessary documents to file, collecting documentation to claim...
- Jan 18
Caught In The California Storm? IRS Grants Filing Extensions For CA Storm Victims
Since New Year's, California has been hit with powerful storms and high winds affecting many cities and residential homes and businesses,...
- Jan 3
6 Potential Consequences Of Having Tax Debt
If you owe taxes to the government and do not pay them, you may face serious consequences. The Internal Revenue Service (IRS) can take...
- Dec 27, 2022
What The IRS Is Really Doing With The 87K IRS Agents They Hired.. And It's Not Just For Tax Auditing
The buzz has been going around for months ever since Biden passed the Inflation Reduction Act of 2022 into law on August 16, 2022,...
- Dec 21, 2022
I Have State Tax Debt! What Are My Next Steps?
You've received a letter from your state tax authority and now you have two choices for settling your tax debt: pay now in full or enter...
- Dec 14, 2022
Everything You Need To Know About Unemployment Taxes
Unemployment compensation is considered taxable income by the IRS and some states and must be reported on your federal tax return. Each...
- Dec 1, 2022
What Is The IRS Collection Process?
If you do not pay your tax in full when you file your tax return, you will be issued a bill for the amount owed. This bill initiates the...
- Nov 28, 2022
Understanding Innocent Spouse Relief
The term "innocent spouse relief" refers to the IRS's authority to reduce or eliminate taxes for married couples. The IRS is authorized...
- Nov 16, 2022
What Is The Collection Statute Expiration Date (CSED)
The Collection Statute Expiration Date (CSED) marks the end of the collection period, the time period established by law when the IRS can...
- Nov 7, 2022
What Do I Do After Receiving The CP523 Notice From The IRS?
Ignoring IRS notices is never a good idea, especially if you've already reached an installment agreement with the IRS. If you enter into...
- Nov 2, 2022
4 IRS Installment Agreements That You Should Know About
The IRS recommends individuals pay their tax debts in full to avoid further fees. The IRS permits taxpayers who are unable to pay their...
- Oct 26, 2022
Is Requesting For Currently-Not-Collectible Status The Right Tax Bill Option For Me?
The IRS is sending you tax bills, but you're not able to afford to pay them so the IRS threatened a tax lien or tax levy on your...
- Oct 21, 2022
The IRS Reminds Taxpayers With Eligible Dependents That They Can Qualify For 2021 Child Tax Credit
On October 17, 2022, the IRS sent out an announcement regarding the Child Tax Credit (CTC). Taxpayers who claim at least one child as...
- Oct 20, 2022
The Florida Motor Fuel Tax Relief Act Of 2022 Effective October 1 - October 31
The Florida Legislature passed the Florida Motor Fuel Tax Relief Act of 2022 on Saturday, October 1. The total amount of tax reduction...
- Oct 19, 2022
The IRS Announces Tax Inflation Adjustments, Marginal Tax Brackets, & Tax Income Rates For 2023
On Tuesday, October 18, 2022, the Internal Revenue Service revealed inflation-adjusted marginal rates and brackets for 2023, and many...
- Oct 11, 2022
Hurricane Ian Victims In North And South Carolina Automatically Qualify For Tax Relief
The IRS announced on October 5, 2022, that Hurricane Ian victims located all throughout North and South Carolina have until February 15,...
- Oct 10, 2022
What Is Child And Dependent Care Credit?
The Child and Dependent Care Credit is a federal tax credit that assists families in paying for child care expenses while working or...
- Oct 5, 2022
Parents Who Missed Out On The $3,600 Child Tax Credit Can Claim By November 15
Last year, a generous child tax credit provided qualifying parents with up to $3,600 per child. For families who missed out on some of...
- Oct 4, 2022
Work Opportunity Tax Credit: Employers May Be Eligible To Earn A Federal Income Tax Credit Incentive
In mid-September, the IRS released some updated information on the Work Opportunity Tax Credit (WOTC), a one-time federal tax credit...
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