If you are one of the millions of taxpayers who owe back taxes to the IRS there are certain actions you can take to protect yourself from garnishment.
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The beginning of the school year is a good time for a reminder of the tax benefits for education. These benefits can help offset qualifying education costs. Here is information about two tax credits available to those who pay higher
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Where individuals and businesses owe IRS taxes, the IRS has a settlement program where it can legally accept less than what is owed. Known as an “Offer in Compromise,” Congress has given the IRS the authority to “compromise” and reduce
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We didn’t know how to dig ourselves out of our tax debt, but we managed to do it, and we learned some valuable lessons along the way. If you’re overwhelmed by the amount you owe, here are some tips to help you rebound from a surprise tax bill.
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If you or someone you know is being affected by Hurricane Harvey, please send this information NOW…it could save them a lot of hardship! – Chris Crabb WASHINGTON —The Internal Revenue Service today announced that 401(k)s and similar employer-sponsored retirement
Read more →by McNair Law Firm, P.A. If an individual or business owes federal taxes and does not have the current ability to pay these taxes, the IRS can consider placing the account into “currently not collectible” (CNC) status. If placed in
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TOPICS IN THIS ISSUE: Introducing TaxRelief.Info For Your Peace of Mind Tax Tip: File Form 1040X to Amend A Tax Return ALERT: Program Underway To Yank Tax Delinquents’ Passports Tax Tip: IRS Recaps “Dirty Dozen” List of Tax Scams for
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Mistakes happen and tax returns are no exception. Filing an amended tax return corrects information that changes tax calculations. This includes making changes to filing status and dependents, or correcting income credits or deductions. Don’t file an amended return to fix math
Read more →by McNair Law Firm, P.A. If an individual or business owes federal taxes and does not have the current ability to pay these taxes, the IRS can “seller-finance” and offer a payment plan with the taxpayer. The primary benefit of a
Read more →Sometimes seniors find themselves owing past-due federal taxes they cannot afford to pay. Although notices from the IRS can be especially frightening, there are solutions. Article by Chambliss, Bahner & Stophel, P.C. – You may read the article in its entirety
Read more →by McNair Law Firm, P.A. The United States has a voluntary income tax reporting system. U.S. citizens, permanent residents, and businesses here must annually file income tax returns with the IRS, reporting their “worldwide income”, deductions, and their “net taxable income”,
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Most people don’t want to be behind on taxes, but if you do fail to pay the Internal Revenue Service, it’s important to know what happens. Here’s a look at the collections process and how you can resolve tax debt. By Craig Smalley Learn
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