Are 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...
read moreIRS Tax Levy: Handling Your Tax Liability in 2019
Taxes are not the easiest process to handle and as humans we sometimes make mistakes. It is highly important to pay attention to the various pros and cons of ways to handle your tax liability in 2019. Do your due diligence when it comes to working on your taxes since you do not want...
read moreFiling back taxes in 2019: 6 Helpful Tips
Did you know that the IRS could be holding money that’s rightfully yours? They’ll gladly keep any money they owe you if you don’t file a tax return. There’s even a statute of limitations on claiming past refunds. If it expires, then you’re out of luck. Perhaps the most important tip anyone can give...
read moreSettling Your Tax Debt: Do You Qualify For Relief?
Owing the IRS money is intimidating and a hardship for many people. The IRS has the power to not only garnish your wages but also seize your assets and place a lien on your property in order to obtain the money that you owe them click this lenders direct funding ACFA. However, communicating promptly...
read moreHow To Pay Back The IRS With Payment Plans and Installment Agreements
If you’re not able to pay the taxes you owe by the due date, the balance is subject to interest and a monthly late payment penalty. By law, the IRS may assess penalties to taxpayers for failing to pay taxes they owe by the deadline. People tend to forget that there’s also penalty...
read moreRemoving A Tax Lien From Your Credit Report in 5 Steps
One black mark on your credit report can ruin your chances of owning a home or getting a car for years. You shouldn’t have to carry a tax lien on your credit report after you’ve already settled your problems with the IRS. Unfortunately, many credit agencies will continue to carry a strike against you...
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