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 levy
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 →
Tax Lien and Tax Levy Facts – The Expert Advice You Need
What is a Tax Lien? A tax lien is a claim against one or more of a taxpayer’s assets. It is issued by the IRS or State Tax Agency for the purpose of insuring payment of a tax debt. The tax lien gives the issuing tax agency priority over other potential creditors with respect to… Continue reading →
Tax Levy – Understanding and Resolving IRS and State Tax Levies
Do you have or know someone with a tax levy? A tax levy is serious, it is the actual seizure of a taxpayer’s property by either the IRS or a State Tax Agency. It is one of the final steps in the enforced collection process and is usually exercised only after all previous attempts to… Continue reading →
How We Reduced One Client’s Tax Debt from $40,000 to less than $1,000
We were hired by the owner of a small mortgage company to resolve his tax debt. Our client had received a notice that his wages from a related company had been garnished by the state tax board and the federal government had issued an IRS notice of the intent to pursue a tax levy and… Continue reading →
