One of the most sensitive topics tax professionals must face is helping people handle taxes for family members or loved ones who have passed away. Family members often wonder if filing taxes for decedents is necessary. The answer is that death doesn’t erase taxes; a tax obligation still stands even if a person passes away. In …
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The thought of owing late taxes can be terrifying if you’ve never dealt with the IRS before. If you just realized that you forgot to file taxes by the tax deadline, you may even be expecting the IRS to show up on your doorstep. But how worried should you really be? You don’t have to …
How the IRS Decides Your Ability to Pay When You Owe Taxes If you owe the IRS money, you’re probably constantly thinking about it. Worrying about your tax debt can be stressful and overwhelming if you know that you don’t have a way to pay it off. Many taxpayers are surprised to learn that the …
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Do you need a tax lawyer? Admittedly, it’s not a question that anyone looks forward to asking. However, the reality is that knowing when to hire a tax attorney can potentially save you from lots of needless legal trouble and IRS fees. You may be looking at some telltale signs that it’s time to get …
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Can the IRS take your paycheck if you owe late taxes? Unfortunately, the IRS can claim a part of your income through something called an IRS wage garnishment. One of the frustrating features of a wage garnishment is that the IRS will contact your employer directly to have your earnings redirected. Fortunately, the situation isn’t …
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One of the big things tax experts see time and time again is the way that fear of the IRS can cause people to miss out on opportunities to properly handle tax problems before the situation becomes critical. If you owe back taxes, the situation may not be as bleak as you think. A tax …
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While serious, a tax levy isn’t necessarily unstoppable. You may be concerned if you’ve received an IRS levy notice. Taxpayers have a number of options when faced with the possibility of a levy. First, it’s important to file on time and pay all owed taxes if your goal is to avoid getting into levy territory. …
Any experienced tax preparer will tell you that tax season isn’t an event. Tax “season” should be the lens that you view your finances through all year long. Let’s talk about how to prepare for tax season in a way that keeps you ready and shielded. Even a person who feels confident about filing their …
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Tax lingo doesn’t come naturally to people who don’t work for the IRS. That’s one of the reasons why there’s some confusion regarding the difference between a levy and lien. The two terms are not interchangeable. However, they are linked. Let’s break down what there is to know about these IRS penalties that should never …
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What does a Freedom of Information Act (FOIA) request have to do with your taxes? You might assume that an FOIA request is something that only happens in big court cases. However, this resource can be beneficial if you’re managing a tax issue with the IRS. Taxpayers use documents obtained through FOIA requests all the …
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