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 →
tax debts
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 →
For Those With Tax Debt, The Economy Could Cause Even More Problems.
The struggling economy has caused more taxpayers than ever to find themselves with and outstanding tax debt that they simply cannot pay. When accepting tax settlements one of the requirements of the IRS is typically that the taxpayers file and pay their taxes on time in the future. Most taxpayers get behind initially due to… Continue reading →
Make the IRS an Offer They Can’t Refuse, and Reduce Your Tax Debt with This Tax Settlement Option.
Chances are, you have heard the claims that your federal taxes can be settled for “pennies on the dollar” Sounds too good to be true, right? Although many of the companies advertising these claims are a scam, the IRS does have the authority to settle, or “compromise,” on tax debts, accepting less than the full… Continue reading →
Survey Finds Financial Stress of Employees is Decreased
According to a survey by workplace financial education provider Financial Finesse, roughly 34 percent of employees reported having high to overwhelming financial stress in 2009. Since then, the percentage has dropped significantly to 21 percent in the first quarter of 2011. Financial stress was reported as higher for woman than men. While 9 percent of… Continue reading →
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 →
