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Can Bankruptcy Wipe Out Your IRS Tax Debt?

Filing for bankruptcy is a last-ditch measure when you see no other way to get out of a financial hole. What happens if part of your debt is IRS Tax Debt? It depends on how you’re filing for bankruptcy and how you’ve handled your tax filings. The two most common types of personal bankruptcy are […]

Haven’t Filed Your 2016 Taxes? Here’s What To Do Now.

You missed the April 18th tax filing deadline this year. Work got in the way, or there was a family crisis, or you were worried because you knew you didn’t have the money to pay the taxes you owed. You never got around to filing the request for a tax filing extension either—and since it’s […]

Funniest Cartoons Ever Made Concerning the IRS

Now that we’ve passed the tax filing deadlines, it’s time to lighten up a bit. After all, if we can’t avoid paying taxes, it’s probably better to try to find something funny about the process. No more, thanks! When you get unwanted solicitations in the mail, one way to solve the problem is by writing […]

IRS OIC Saves Client $54,000!!!

There have been many exciting stories concerning our clients tax issues this year. The most recent settlement took place for one of our favorite clients. He came to us with a large IRS tax issue in January of 2016 and he didn’t know how to fix the problem. He had been dealing with this tax […]

How Does Your IRS Tax Debt Affect Your Credit Score?

Your credit score plays an important role in your life. It determines the interest rate you’ll have to pay on car loans, home mortgages, etc. In addition, insurers may factor in your credit score when they’re trying to decide your auto insurance rates. Potential employers might also check out your credit worthiness when making their […]

Fascinating Facts About the IRS Offer In Compromise Program

What happens if you owe the IRS more money than you can possibly pay, even over an extended period like 6 years? (That’s the current maximum for the agency’s repayment installment plan.) To deal with these cases, the IRS has developed an IRS Offer in Compromise (OIC) Program that allows you to repay less than […]

Tax Cheats Avoided IRS Payments While Making Millions (or More)

No one likes paying taxes, but most of us grumble and then contribute our allotted share while scrimping and saving enough to pay our every day bills and afford a few luxuries. It’s often the richest Americans who try to evade paying their taxes. Here are three outrageous examples: Ty Warner may be best known […]

Five Common Reasons for Late Tax Filing (and Why You Shouldn’t Use Them)

“The dog ate my homework” is a time-honored (although probably not very effective) excuse for not turning in school work on time. The excuses that taxpayers use for missing the mid-April deadline for filing taxes are often just as lame. “I ran out of time.” You usually have at least three months to work on […]

Buried by Taxes? Get Help from a Colorado Enrolled Agent

Completing your taxes can be a nightmare when you own a business or have an unusual personal tax situation. It’s even worse if the IRS decides to conduct an audit. That’s why it’s a good idea to enlist an Enrolled Agent to help you right from the start. An Enrolled Agent (EA) is a person […]