Tax season can be a time of great anticipation for millions of Americans with dreams of a nice, big, refund check coming soon. Yet this year, many Americans may find themselves surprised and coming up short on their refunds.Many taxpayers have been shocked to find that this year, instead of a big tax refund check arriving in the mail, they are being saddled with an unexpected bill from Uncle Sam. The combination of recent tax law changes and updated employer withholding tables has left individuals scrambling to figure out how to pay for their new IRS obligations due at filing time.If you're worried about a looming tax bill, never fear. There are measures you can take to ensure that your taxes don't unexpectedly balloon. From budgeting tips to what do when the worst happens, these strate... 01/23/2023

Ignoring your obligation to pay taxes can lead the federal government to conduct severe legal action against all your existing assets, current and future income, and assets you acquire in the future; this form of punishment is called a federal tax lien.If you have received a certified letter indicating that the federal government has placed an unwelcome Federal 'tax lien' on your assets, this article can provide insights into what it means and how to remedy the issue. What is a Federal Tax Lien?When a taxpayer falls behind on their federal taxes, they are at risk of having an official public notification filed against them. This document is known as a Notice of Federal Tax Lien and can cause grave consequences for the individual's ability to enjoy any financial security.A federal tax li... 01/09/2023

The tax-filing deadline will be here before you know it and pretty soon, you’ll be gathering up your receipts and plugging in numbers. I know you’re hoping for good news, and praying for a big refund in the process.If all goes well you won’t owe anything and you might even be getting back a nice refund. But, what should you do if you owe money? If you know you owe money to the IRS, you might be tempted to not file a return, but that is the worst thing you can do!If you fail to file on time, the IRS will come after you until you do. Worse yet, the tax agency can assess up to 25% just in late filing penalties. Plus, interest will start piling up right away. Instead of not filing, here are the steps you should take if you owe money to the IRS. Seek Out Tax Deductions You Can Still ClaimIf ... 12/26/2022

Paying taxes is a fact of life, but when the amount is excessive, you may not have the funds to pay in full. Making a mistake on your taxes can be costly as well, and if you plug in the wrong numbers, the IRS will surely come calling.Whether you owe money to the IRS due to an innocent oversight, a lack of funds, or something else, ignoring the problem will not make it go away.Once you owe money to the IRS, the clock is ticking, and all the while penalties and compounded interest will be piling up. So, what should you do if you owe back taxes? Here are some critical steps to take. Assess the SituationUntil you know how deep the hole is, you will not be able to start digging your way out. Before you do anything else, you should assess the situation, going through your old tax returns, rev... 12/12/2022

  You open your mailbox, expecting the usual mix of bills and catalogs, but what you find is a collection letter from the IRS. It’s a living nightmare that you can’t wake up from.     Even worse, that letter includes a demand for payment, which is the last thing you need to deal with. So, what do you do now? The steps you take could make all the difference, and here are some key things to do next.   Take a Deep Breathe It is easy to panic when you get a notice from the IRS but getting scared will not get you anywhere. So, slow your racing heart (if you can), take a deep breath, and try to calm your nerves.   You will need to think clearly to take on the IRS, and letting your emotions guide you is the last thing you want to do. You will want to have all your brain cells firing, so stop ... 10/10/2022

Dealing with tax issues can often be a challenging, and even overwhelming for many people. Choosing to work with a tax resolution professional is often a great choice if you are dealing with the IRS. Tax relief specialists can guide you throughout the entire process to help you avoid making costly mistakes. You will also have much less stress knowing that an experienced professional is working hard on your behalf. The IRS is no stranger to audits, and it can be a stressful process. If you've received a notice from them, don't panic! There are many things that could help relieve the stress - like working with one of our top-rated tax resolution professionals who will fight hard on your behalf so there's less risk for penalties or interest charges along with preserving any possible defens... 09/26/2022

Filing your taxes is never a fun thing to do, but if you don't file them at all then the IRS will come calling. They have unbridled power to file a return on your behalf in their, not your, best interest.They have powerful collection tools and an unforgiving nature that makes this one of the worst mistakes anyone could make. Getting on their bad side isn’t easy; having years’ worth of unfiled returns only adds fuel to the fire!The IRS is always on the lookout for taxpayer’s who haven’t filed legally required income or payroll tax returns. If you have unfiled tax returns, it’s only a matter of time before they find out and demand the return and their money with penalties and interest! When it gets to a point where the IRS contacts you, the amount they claim you owe will be far greater th... 09/12/2022

Unpaid payroll taxes are a serious matter to the IRS and are some of the worst kinds of back taxes you can owe. If you’re a small business owner with a payroll tax problem, read on to learn what you can do to avoid the IRS crippling your business or worse, shut your business down completely. Already in payroll tax trouble? Contact us to schedule a free, no-obligation consultation and let’s get your payroll tax issue resolved. Why Small Business Owners Get into Payroll Tax Trouble in The First PlaceIt’s hard being a small business owner today, trying to pay your employees their paychecks every week, and pay the IRS all those payroll taxes! A lot of times when money is short, you pay the employees first. It’s a natural thing to do—you need to take care of your employees, even if you have ... 07/25/2022

Even for honest taxpayers, the IRS can be extremely frightening. Unlike most other government agencies, the IRS has unbridled power to attack your wages, freeze your bank account and even confiscate your property, and that is enough to send a chill up the spine of any taxpayer.If you receive a letter from the IRS saying that you owe additional taxes, it is important not to panic. It may be a frightening situation, but there are things you can do to settle your tax debt and get back on the good side of the IRS. Taxpayers do have options when resolving tax disputes and paying additional taxes due, and simply knowing what those options are can set your mind at ease. As an expert Tax Resolution Firm, we encourage all readers facing a tax problem, whether it's the feds or the state,  to cont... 07/11/2022

If you don't have money to pay what you owe the IRS, you have a few options to work with. Whatever you do, don’t ignore the letters from the IRS and don’t let your back tax problem go unattended. The IRS has a great deal of power when it comes to recovering money, they think is theirs.   When you owe the IRS money, they can garnish your wages, levy your bank accounts, put a lien on your home and seize other assets.   Here's what you can do if you find yourself not being able to pay your taxes. Note, we always recommend getting in touch with a tax resolution professional to help avoid the harsh penalties and interest that accrued on your back taxes. It’s far easier to navigate towards tax resolution if you have a professional working on your behalf. If you’d like to schedule a no-cost c... 06/27/2022

When you owe money to the IRS, it is hard to think about anything else. While being in debt is never fun, no matter who the creditor is, the IRS enjoys almost unlimited power to collect the money they are due.Unlike your mortgage lender or credit card company, the Internal Revenue Service has the power to attach your wages, raid your bank account and even take your freedom. No other creditor even comes close in terms of its power and influence and taking on the agency on your own could be asking for trouble. If you have received a notice from the IRS, you need to act fast, and you need the right assistance in your corner. Taking on the IRS requires specific expertise, and that is why it is so important to work with a quality tax resolution company. Here are seven reasons why working wit... 05/20/2022

 If you owe back taxes to the IRS, some amount of panic is understandable. After all, the Internal Revenue Service has the power of the federal government in its corner, something no other debt collector can claim. They are considered the most brutal collection agency on the planet. It is easy to freeze up and just do nothing when you owe back taxes to the IRS, but hiding from, or doing nothing about your tax debt will not make it go away. In fact, ignoring the taxes you owe will only make the situation worse, since interest and penalties can really add up. You also risk having your paycheck garnished (the IRS does not need a court order to do this) or your bank account levied. The IRS can also file a Notice of Federal Tax Lien making it all but impossible to obtain financing for a car ... 05/11/2022

 Tax returns can be complicated and tricky to understand. Even for a professional, it can be surprisingly difficult to get every number and detail right. Often, you only notice the mistakes when you take a casual look at your return days after you submit it online or drop it in the mailbox. Or worse, the IRS sends you a letter telling you something is off.So, is there anything that you can do after your return is in?Actually, there's a lot that you can do. But if you don’t know where to start, it’s best to leave it to a professional. Our tax resolution specialists can navigate the IRS maze so that you have nothing to worry about. We help people who owe back taxes or have back tax debt. Call us today for a free consultation. 3 Major Types Of MistakesThere are many red flags the IRS looks... 05/03/2022

A growing number of people are leaving the world of traditional employment behind. These are the folks who are opening their own small businesses. The people who are embracing freelancing. And the men and women who are using gig work to make a good income.As this trend continues, many of those newly self-employed individuals are finding themselves at a loss, especially when tax season rolls around. One of the worst feelings is working so hard throughout the year, only to get blindsided by a huge tax bill you weren’t ready for.While traditional employees can rely on the companies they work for to withhold taxes and report their earnings to the IRS, the self-employed are expected to complete these actions on their own.To make matters worse, the self-employed often pay higher taxes than th... 03/14/2022

If you are running a small business, you have an unwanted, not so silent partner that will dig into your pocket every year: the IRS.The IRS wants to know what you are doing, how much you are earning and most importantly how much you are paying in taxes. And the tax agency is becoming increasingly aggressive in this regard. While the audit rate for individual returns has been hovering at far less than 1%, the audit rate for small businesses can be as much as 10 times higher.The IRS is watching what you do, and if they think you are not paying your fair share they will certainly come calling. When that demand letter from the IRS arrives, knowing what to do next can make all the difference, and the more you educate yourself the easier it will be to deal with, and eliminate, the tax debt.No... 03/07/2022

So many of us dread the April 15 tax filing deadline. The U.S. tax code contains more words than the Bible and hundreds of pages of new rules and regulations are often added. With so much complexity, it is no wonder so many of us put off filing our taxes until the last possible minute, but taking that approach introduces its own stresses and can potentially land you in hot water with the IRS.   What if you do not get it done on time? You can file for an extension, but you are still required to pay the taxes you owe plus penalties and interest.   How do you know you didn't make a mistake with your last minute tax filing? Something as simple as a mathematical error could increase the odds of an audit and put you in the crosshairs of the IRS.   We specialize in helping people who owe $10,... 02/21/2022

  The old saying that nothing is certain in life except death and taxes has never been truer, or more frightening. In the current environment, fear of the IRS is creeping in, and nothing will get your heart racing quite as fast as opening the mailbox and finding a letter from the tax agency.   When the IRS comes calling, you might think that there is nothing you can do. You may worry that you will have to liquidate your assets, sell your car, or even put your home on the market to afford what the IRS says you owe. The good news is that you may not have to pay that total amount, and before you write that big check you should check out the alternatives first.   The IRS understands taxpayers fall behind on their taxes, and they have programs in place that can reduce the amount you owe or ... 01/24/2022

  Opening the mailbox and finding a letter from the IRS is frightening, but what happens next can be even scarier. The tax agency wields incredible power, and if they claim you owe additional taxes they have many different options for forcing you to pay.   When the IRS claims you owe additional money, they will act quickly, and that could leave you reeling, and trying hard to preserve the money you need to pay your bills, feed your family and keep a roof over your head. If you are employed, the IRS can reach into your paycheck, forcing the company you work for to withhold part of what you are owed until the tax debt has been satisfied.   The IRS can also hold onto any refunds and government payments you would otherwise be due. If you have been waiting for that big fat refund check to a... 01/10/2022

It is hard to beat the freedom and flexibility of freelancing and gig work. When you work for yourself, you can set your own hours, turn your home into an office and even ditch the daily commute. As a small business owner, I understand the desire to be your own boss.All that is great, but there is one thing about freelancing that is much less pleasant. Compared to their corporate counterparts, self-employed individuals face an additional tax burden, an expense that takes many of them by surprise.Note: If you end up falling behind on your taxes and the IRS or state claim you owe $10,000 or more, reach out to our tax resolution firm and we’ll schedule a free, no-obligation confidential consultation.If you love the freedom of gig work but not the big tax bill, you need to think ahead. A li... 12/27/2021

Tax season can be a stressful time, especially for freelancers who might owe taxes at the end of the year. It can be overwhelming to look at the tax debt you owe from the profits you have made. Our firm specializes in tax resolution and helping people who owe the IRS or state $10,000 or more. We’ve seen small business owners and freelancers get blindsided every year by a huge tax bill and often falling behind on their taxes for years on end. If that’s you, we can help. Contact us to discuss your tax debt settlement options.  So, if you're worried about how you're going to pay your tax bill this year, try to relax. There are a wide variety of legitimate deductions you can utilize as a freelancer to bring your tax liability down. We encourage you to talk to a tax professional to see if an... 12/21/2021