Author: Tax Consultants
Innocent Spouse Rule
(Important Info to Not be Hindered By Your Spouse’s Tax Debts) The vast majority of married couples file their federal taxes jointly. The joint filing of taxes is actually encouraged by the tax by providing certain benefits and advantages to joint filers, as opposed to a married couple that opts to file separately. However, a […]
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How To Stop a Tax Levy from the IRS
If you receive a tax levy notice from the IRS on your property, do notfret. A tax levy notice is not irrevocable. In fact, the IRS possesses the discretionary authority to affirmatively release you from the tax levy. Factors Considered in Releasing a Tax Levy The IRS may consider releasing you from the tax levy […]
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What Happens If You Fail to Make an Installment Payment to the IRS?
When someone owes back taxes to the IRS, it is quite common that they lack the available funds to pay the debt in full. Hence, the Internal Revenue Service (IRS) routinely agrees to an installment payment plan for people who owes back taxes. When an installment plan is agreed upon, the IRS allows you to […]
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Obtaining “Currently Not Collectible” Status for IRS Tax Debt Relief
There are instances where you agree you owe money to the Internal Revenue Service (IRS), but you simply lack the funds to pay the amount owed. If you find yourself in this situation, do not give up hope. You have options. For example, if the IRS determines that you are unable to pay both your […]
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Struggling with Debt? You’re Not Alone
If you are feeling anxious and stressed about an excessive amount of consumer debt or you owe a tremendous amount of tax debt to the IRS, it is important to keep things in perspective and understand that you are not alone. In addition to millions of Americans carrying some form of debt, the federal government […]
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Red Flags That May Trigger an IRS Egg Shell Audit or Criminal Tax Investigation
If the IRS suspects serious fraud has occurred, or is occurring, it is possible an eggshell audit or criminal tax investigation could be triggered that results in criminal charges being brought against you. While some IRS audits are random, many more are the product of an IRS agent running statistical diagnostic software applied to the […]
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Key Benefits of Retaining an Experienced IRS Tax Relief Attorney
If you were contacted by the IRS about unpaid taxes or outstanding tax debt, you may be contemplating whether to retain the services of a tax relief attorney. You might be on the fence about hiring a tax lawyer out of concern that it could make the situation worse and cost you an arm and […]
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Major Tax Mistakes You Need to Avoid
Making a mistake when filing your taxes can have significant consequences and potentially harm your financial well-being. Depending on the mistake, you could be subjected to large tax penalties, IRS wage garnishment, or even the prospect of serving time in prison. This is why it is so important to speak with a seasoned and knowledgeable […]
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How to Get a Tax Penalty Waived – Penalty Abatement
If the Internal Revenue Service (IRS) contacts you and alleges that you owe back taxes or underpaid taxes, there is a good chance you could be subjected to a penalty (if it turns out you do in fact owe the amount alleged by the IRS). Penalties levied by the IRS are quite common. For example, […]
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Overview of the IRS Wage Garnishment Process
The Internal Revenue Service (IRS) possesses the legal authority to “garnish” (i.e. legally seize) your income to satisfy any outstanding federal tax debt. The IRS can garnish hourly wages, salary, commissions, and even bonuses. The IRS generally does not garnish wages unilaterally. The federal agency will first send you a written notice that sets out […]
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