When Does the IRS File Criminal Charges?
If you have been the subject of an IRS investigation or the IRS has been in touch with you about a potential audit, tax evasion or tax fraud, you should be aware of some basic facts regarding what the IRS can (and cannot) do in terms of filing criminal charges against you. Keep in...
read moreCan the IRS Seize Your Bank Account Without Any Notice?
If you owe the Internal Revenue Service (IRS), and they have attempted to contact you about this issue multiple times, and you’ve not responded, then yes, the IRS can seize your bank account. But the real question is: “Can they do this without any notice?” The answer is no. The IRS is supposed to...
read moreHow to Resolve a Tax Dispute with the IRS
If you disagree with the IRS about a decision they have made regarding your tax return, you may assume that you don’t have any chance of resolving it in your favor. Well, as it turns out, you may have a better chance than you might think – especially if you follow some basic tips...
read moreHiring a Professional to Negotiate with the IRS on Your Behalf
In some cases doing things yourself is often the best way to yield quick results. Yet, when it comes time to handle situations like tax filing and debt, it’s often a good idea to bring in a third party that knows the tax laws and has successfully dealt with your special kind of tax...
read moreHow Early 401K Withdrawals Can Affect Your Tax Return
Your 401(k) retirement account is an excellent way to save for your retirement and some employers even match your contributions, giving you an extra boost for your nest egg. But, what happens if you come upon hard times before you retire and need to cash in some or all of your 401(k)? Accessing these...
read moreAre IRS Installment Tax Payments Deductible?
Are IRS Installment Tax Payments Deductible? An installment agreement is one way to pay back taxes, interest, and penalties to the IRS over time if you are unable to pay in one lump sum. Like a credit card payment, you are paying back the debt (plus any interest and penalties accrued) over time, rather...
read moreTax Debt and Divorce: Who Pays the Back Taxes?
A divorce is a complicated situation no matter how you look at it. Besides all the emotional issues you have to battle, you also have to sort through a laundry list of financial issues when trying to separate merged finances. Many married couples have joint accounts, own property that belong to both, and have...
read moreHow to Write a Letter of Explanation to the IRS (with samples)
If you have received a written notice from the IRS requesting an adjustment to a recent tax return, requesting additional documentation for your return, or if the IRS sends notice that your payment is late, you need to know how to respond appropriately. Keeping the lines of communication open is key to a successful...
read moreIRS One Time Forgiveness: Does It Apply to You?
Have you heard offers on TV or online promising to eliminate all of your tax debt? Have you wondered if these promises could be real or are they just too good to be true? In reality, while no formal debt forgiveness plan actually exists, you might actually qualify for significant assistance from the Internal...
read moreHow to File an IRS Audit Reconsideration Request
An audit reconsideration request is the process by which a taxpayer is allowed to dispute the results of a recent audit of their tax return. If you disagree with audit results that prompted the IRS to assess additional taxes to you or a tax credit was reversed, the IRS may very well agree to...
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