The IRS does not accept offers in compromise to everyone. However for those that meet the qualifications, this tax settlement program can be life changing. Here is the story of one Professional Tax Resolution Client’s journey to tax relief.
Tax
Tax Preparation May Become Easier for Seniors
Many seniors have limited forms of income, including social security or retirement benefits. However, the current IRS tax form 1040EZ does not include lines for these sources of income. Therefore, seniors must file the much more difficult form 1040 and its schedules. This makes filing taxes even more dreadful for the elderly. To help with… Continue reading →
Tax Debt Can Start with a Small Mistake – Tips to Avoid the IRS Debt Cycle
Tax Debt can develop from a simple mistake or unreported item on a return. The IRS takes time to find errors and yet penalties and interest accrue during that period. Here are some simple steps to help avoid making some common Tax Filing mistakes.
Case In Point-Hiring A Qualified Professional To Handle Your Tax Settlement = A Good Investment
Hiring a qualified tax professional can seem like a bit of an investment. However by representing yourself before the IRS or State Tax Board small mistakes or assumptions can cost you even more time and money. This case study is a real world example.
Consider Carrying Back a Net Operating Loss as a Tax Settlement Tool
In this economy many taxpayers have allowable deductions that exceed gross income. The Net Operating Loss Carry Back provision can be used to offset taxes paid in or even owed for prior years. Read more below about this excellent tax settlement option.
2010 Electric Car Credit and Other Tax Incentives
Tax Credits can allure taxpayers to rush applications or file even when unsure about qualifing standards. Learn why tax liabilities can appear years after filing incorrectly for incentives such as the first time home buyer or electric vehicle tax credits.
