If you have back taxes from unfiled or late tax returns, you could be subject to wage garnishment. Under IRS wage garnishment, 70% or more of your wages can be legally seized by the federal government to pay your back taxes. If you do not respond to IRS notices about your back taxes, the IRS… Continue reading →
back taxes
Late Tax Return? What Happens Next
It’s the day after taxes were due, April 18th, 2012. What do you do if you still haven’t filed your tax return? The IRS has some guidelines for what happens with returns that are past due. If the IRS doesn’t hear from you and you don’t file a return: The IRS will increase your taxes… Continue reading →
IRS Collection Financial Standards
Are you delinquent on your taxes and can’t afford to pay your tax debt? The IRS released updated Collection Financial Standards on April 2, 2012, to help with calculating delinquent tax repayment of federal taxes. These standards help to define a taxpayer’s ability to pay a tax liability. Standards include the following four categories of… Continue reading →
Tips for Taxes on Frequent Flier Miles
Did you know that you could be taxed on your frequent flier miles? That’s what thousands of Citibank customers learned when they received a 1099-MISC from Citi, which reported their miles as income to the IRS. These miles would have to be reported on their tax returns, or they could risk getting a notice from the… Continue reading →
Avoid IRS Penalties – Settle your IRS Tax Debt – Tax Settlement Tips
If you have been disregarding a notice from the IRS, tax filing deadlines, or ignoring tax liabilities, it is probably time to think about filing those back tax returns and paying outstanding tax balances. Even though the Obama Administration’s 2012 Budget request for increased funding for the Internal Revenues Service was not approved, the ability… Continue reading →
IRS Back Tax Tips – Help with Late Tax Bills – Pay Your Tax Debt
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 →
