What Happens When You Buy a House in a Tax Sale?
Real estate agents often tell their clients to simply avoid houses with tax liens filed against them. Conventional wisdom seems to suggest that they’re simply too much trouble. However, there’s also a fair amount of money to be made by buying homes with outstanding taxes. Some investors have even drawn handsome profits simply by...
read moreWhat Should You Do When the IRS Files a Notice of a Federal Tax Lien Against You?
Getting a notice of a federal tax lien filed against you could mean that you won’t receive the proceeds from any property sales you make. When a lien is in effect against your house or another piece of property, the IRS gets paid out of the sales proceeds before you receive any money. If...
read moreHow And When to Pay Your Estimated Federal Taxes
Did you know that the IRS can penalize you even if you do pay your taxes at the end of the year? You could file every form correctly and still get charged! That’s because people who don’t have their taxes withheld still get stuck with the same tax burdens that everyone else does. At...
read moreHow Do I File a Financial Hardship With the IRS?
Did you know that there’s an IRS program that could get those collection agents off your back for as long as you need to get back on your feet? Would you believe us if we said that there wasn’t even a charge involved? At Success Tax Relief, we’re often asked whether there’s any program...
read moreWhat are Tax Liens and What Do They Mean for Small Businesses?
The IRS is a government agency that deserves respect. History recounts that dodged taxes landed Al Capone in prison and not his other heinous crimes. In fiction, heroes and villains quip that they’d rather face violent vigilantes and meteors rather than face an audit. We pay our taxes for a reason: to avoid that...
read moreHow to Find, Locate, and Recover an Old 401(k) Account
The vast majority of unclaimed income comes from brokerage, checking and savings accounts, plus annuities, 401(k)s and IRAs inadvertently left behind by people who switch jobs or financial institutions leaving valuable assets behind. The good news is that it’s relatively painless to locate lost funds. Since companies are required by law to mail send...
read moreDo You Qualify For The IRS Fresh Start Initiative?
The IRS Fresh Start initiative expanded several programs to help taxpayers struggling with unpaid tax debt as a result of the 2008 worldwide financial crisis. Some changes included the IRS increasing the threshold for filing a notice of federal tax lien from $5,000 to $10,000. Also, taxpayers are now allowed to obtain a lien...
read moreWhat Are the IRS or State Tax Levies?
Tax debts are among the most difficult debts to eliminate, not even avoidable by filing bankruptcy. This is because the IRS has more power than other types of creditors to seize your assets. In this way, the IRS can use a tax levy to seize property without even having to take you to court...
read moreWhat is IRS Form 1040-ES?
The IRS Form 1040 is an official documents that U.S. taxpayers can use to file their annual income tax return. You can use Form 1040-ES to pay income tax, self-employment tax and any other tax you may be liable for. ES stands for estimated tax, not to be confused with the standard 1040 which...
read moreWhat are Quarterly Estimated Tax Payments?
How would you feel if you got stuck paying a fee to the IRS even though you paid your taxes every single year? This happens to many people who failed to make estimated payments. Regardless of how you earn income, you have to pay your taxes during the whole year and not just in...
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