Did you receive an IRS notice that you owe back taxes? While owing money can be a big worry, ignoring the problem will only make things worse. There are options to pay your tax debt, even if you can’t do it all at once. If you need help with tax resolution because you owe back taxes,… Continue reading →
Balance
Have IRS Tax Debt? Need a New Passport? The GAO wants to know.
As of the end of fiscal 2010, the balance of reported unpaid federal taxes was about $330 billion according to the IRS. This is a huge amount and as we have written about in the past, the enforcement of the tax laws and the tax code is on Government Accountability Office’s list of high-risk areas…. Continue reading →
If You Have Unreported Income You May Get a Letter from the IRS
Understanding The IRS “Soft Notice” Pilot Program to Encourage Income Reporting Compliance In 2007, the IRS launched a pilot program designed to decrease the tax gap by identifying unreported income. Under this pilot program, which is still in effect, IRS notices are issued to taxpayers when there is a discrepancy between the income reported on their tax… Continue reading →
Can the IRS Take my Home Because I Owe Unpaid Taxes?
A common fear is that the IRS may take your valuable assets to pay off unpaid taxes. The fact is, if you owe the IRS money they have a legal right to seize your possessions, including your home but the reality is, you have the ability stop or resolve the problem before it gets to… Continue reading →
IRS Tax Debt Who Has it? Tax Lien Statistics Give Some Clues
Feel like you are the only one with a tax debt problem? Ever wonder where in the US more people have the tax debt issues? Is this a problem of the rich or is the problem of incurring Tax Debt affecting everyone? A recent 2010-2011 analysis of tax liens from across the U.S. found that New… Continue reading →
IRS Tax Settlement Help – Tax Debt Tips From a Qualified Tax Professional
The help of a qualified professional can be an invaluable asset when attempting to resolve a tax debt issue. However, finding the right person for the job can be a difficult task in itself. Many companies that advertise tax settlement help are made up of salespeople and marketing agents who know very little about negotiating… Continue reading →
