debt Archives | Crabb Tax Services https://crabbtaxservices.com Experience, Integrity & Personal Service Fri, 11 Mar 2022 01:24:26 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.2 IRS Announces New Payment Option for Some Delinquent Taxpayers https://crabbtaxservices.com/irs-announces-new-payment-option-for-some-delinquent-taxpayers/ https://crabbtaxservices.com/irs-announces-new-payment-option-for-some-delinquent-taxpayers/#comments Sat, 19 Oct 2019 15:14:06 +0000 https://crabbtaxservices.com/?p=2549 The Internal Revenue Service (IRS) has announced that a new payment option has been added to the private debt collection program. The payment option is intended to make it easier for those who owe to pay their tax debts, although some practitioners, like me, fear that it could lead to abuse.

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]]> https://crabbtaxservices.com/irs-announces-new-payment-option-for-some-delinquent-taxpayers/feed/ 1 IRS Audit Period Is 3 Years, 6 Years Or Forever: How To Cut Your Risk https://crabbtaxservices.com/irs-audit-period-is-3-years-6-years-or-forever-how-to-cut-your-risk/ https://crabbtaxservices.com/irs-audit-period-is-3-years-6-years-or-forever-how-to-cut-your-risk/#comments Wed, 09 Oct 2019 14:12:18 +0000 https://crabbtaxservices.com/?p=2533 It is only natural to worry about an IRS audit, and the duration of audit periods can be downright frightening. Tax lawyers and accountants are used to monitoring the duration of their clients’ audit exposure, and so should you.

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]]> https://crabbtaxservices.com/irs-audit-period-is-3-years-6-years-or-forever-how-to-cut-your-risk/feed/ 1 Crabb Tax Services Newsletter (July 2019) https://crabbtaxservices.com/crabb-tax-services-newsletter-july-2019/ https://crabbtaxservices.com/crabb-tax-services-newsletter-july-2019/#respond Tue, 06 Aug 2019 08:35:55 +0000 https://crabbtaxservices.com/?p=2415 TOPICS IN THIS ISSUE: 3 Costly Tax Mistakes to Avoid 6 Summertime Uses For This Tax-Favored Savings Account Understanding How Taxpayers May Appeal to the IRS Office of Appeals This Crazy Map Shows You How Complicated The Tax Code Has

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]]> https://crabbtaxservices.com/crabb-tax-services-newsletter-july-2019/feed/ 0 Crabb Tax Services Newsletter (June 2019) https://crabbtaxservices.com/crabb-tax-services-newsletter-june-2019/ https://crabbtaxservices.com/crabb-tax-services-newsletter-june-2019/#respond Mon, 01 Jul 2019 13:00:31 +0000 https://crabbtaxservices.com/?p=2366 TOPICS IN THIS ISSUE: Optimizing Residential Real Estate Deductions Tax Court Approves IRS Denial of Installment Plan Request The Marriage Tax Penalty, Post-TCJA 3 Great New Tax Videos! IRS TAX TIP: Here’s What Taxpayers Should Know Before Visiting an IRS

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]]> https://crabbtaxservices.com/crabb-tax-services-newsletter-june-2019/feed/ 0 Crabb Tax Services Newsletter (May 2019) https://crabbtaxservices.com/crabb-tax-services-newsletter-may-2019/ https://crabbtaxservices.com/crabb-tax-services-newsletter-may-2019/#respond Tue, 04 Jun 2019 09:29:47 +0000 https://crabbtaxservices.com/?p=2293 TOPICS IN THIS ISSUE: Tax Levy: What It Is, How It Works and How to Stop One What Is A Tax Lien? IRS corrects error in Schedule D tax calculation worksheet 3 Great New Tax Videos! IRS TAX TIP: Taxpayer

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]]> https://crabbtaxservices.com/crabb-tax-services-newsletter-may-2019/feed/ 0 How A $1,250 Student Loan Becomes Thousands More https://crabbtaxservices.com/how-a-1250-student-loan-becomes-thousands-more/ https://crabbtaxservices.com/how-a-1250-student-loan-becomes-thousands-more/#respond Sat, 13 Apr 2019 01:27:43 +0000 https://crabbtaxservices.com/?p=2199 Just under 500 lawsuits were filed in 2018 in federal courts across the country by private attorneys seeking money for the federal government.

The lawsuits are a mostly unknown part of an industry of private collectors working on behalf of the federal government to track down student loan payments. It’s a system that showcases how student loan debt is different from all other kinds of debt: It can’t be written off in bankruptcy and, because it’s owned by the federal government, long-term unpaid debt is never written off, but relentlessly tracked down.

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]]> https://crabbtaxservices.com/how-a-1250-student-loan-becomes-thousands-more/feed/ 0 Free Tax Return Preparation for Qualifying Taxpayers https://crabbtaxservices.com/free-tax-return-preparation-for-qualifying-taxpayers/ https://crabbtaxservices.com/free-tax-return-preparation-for-qualifying-taxpayers/#respond Wed, 27 Mar 2019 00:14:47 +0000 https://crabbtaxservices.com/?p=2168 The Volunteer Income Tax Assistance (VITA) program offers free tax help to people who generally make $55,000 or less, persons with disabilities and limited English speaking taxpayers who need assistance in preparing their own tax returns. IRS-certified volunteers provide free basic income tax return preparation with electronic filing to qualified individuals.

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]]> https://crabbtaxservices.com/free-tax-return-preparation-for-qualifying-taxpayers/feed/ 0 7 Red Flags That Could Trigger An IRS Audit Of Your Taxes https://crabbtaxservices.com/7-red-flags-that-could-trigger-an-irs-audit-of-your-taxes/ https://crabbtaxservices.com/7-red-flags-that-could-trigger-an-irs-audit-of-your-taxes/#respond Tue, 19 Mar 2019 22:09:42 +0000 https://crabbtaxservices.com/?p=2156 No one wants a visit from the Internal Revenue Service. But if you get too generous with your calculations, you may need to back up your tax return.

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]]> https://crabbtaxservices.com/7-red-flags-that-could-trigger-an-irs-audit-of-your-taxes/feed/ 0 IRS Reminds Taxpayers of Its Ability to Revoke Passports and Deny Passport Applications https://crabbtaxservices.com/irs-reminds-taxpayers-of-its-ability-to-revoke-passports-and-deny-passport-applications/ https://crabbtaxservices.com/irs-reminds-taxpayers-of-its-ability-to-revoke-passports-and-deny-passport-applications/#respond Fri, 08 Mar 2019 00:13:58 +0000 https://crabbtaxservices.com/?p=2133 What You Need to Do If You Plan to Travel Abroad and Have Unpaid Federal Taxes WRITTEN BY: Rosenberg Martin Greenberg LLP   Last week, the Internal Revenue Service (“IRS”) published another friendly reminder that it was recently vested with the

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]]> https://crabbtaxservices.com/irs-reminds-taxpayers-of-its-ability-to-revoke-passports-and-deny-passport-applications/feed/ 0 Report Suggests Congress And IRS Should Give Taxpayers More Time To File In 2019 https://crabbtaxservices.com/report-suggests-congress-and-irs-should-give-taxpayers-more-time-to-file-in-2019/ https://crabbtaxservices.com/report-suggests-congress-and-irs-should-give-taxpayers-more-time-to-file-in-2019/#respond Thu, 07 Mar 2019 20:26:17 +0000 https://crabbtaxservices.com/?p=2138 It’s not your imagination: It really is a different kind of tax season. It’s so different that the National Taxpayers Union Foundation (NTUF), a nonpartisan research and educational organization, is calling on Congress to extend the filing season. by Kelly Phillips

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