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 →
Tax Debt
IRS Tax Debt – Don’t Just Ignore It – Resolve Tax Debt Before the IRS Collects
Most people who have IRS debt do not find themselves in that situation due to an unwillingness to pay their fair share of taxes. It is much more common that taxpayers find themselves owing the IRS either due to a mistake on a previously filed income tax return or some unavoidable circumstance such as a… 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 Debt – Avoid a Tax Liability When Helping Friends or Relatives
With credit so tight and banks unwilling to loan to small businesses and individuals, more and more family members are faced with the difficult decision of how or when to help out. Once you decide to lend a hand, you have to consider the potential tax implications. You ask yourself would it be better to… 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 →
IRS Tax Debt Alert – Tax Advocate Services Limited by Budget Cuts.
The IRS Taxpayer Advocates Services are being forced to eliminate some of the services they offer, at least temporarily due to budget limitations. What are they cutting back on? In a blow to taxpayers, they will no longer deal with cases where the problem involves an IRS delay in processing tax documents. Of course as… Continue reading →
