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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 […]

Podcasts Share Secrets of Breaking the IRS Debt Cycle

You’ve just completed your taxes and—like last year and the year before that—you’ve once again discovered that you’re going to owe Uncle Sam a good chunk of money. Now’s the time to figure out what you’ve been doing wrong and what you can do differently in the coming year. Your goal should be to break […]

5 Reasons To Be Grateful to the IRS—Even If You Owe Them Money

Few Americans have kind thoughts about the IRS around tax time. But—looking on the slightly brighter side—things could be a lot worse. As long as you file on time, the IRS won’t pile on additional penalties—just interest. Don’t delay filing even if you can’t pay up front. The IRS will charge interest on any money […]

What Happens When an IRS Tax Lien is Placed on Your Property – and What Can You Do?

Being hit with an IRS Tax Lien is an anxiety- and stress-ridden event, but understanding the action can help you navigate the process. The process begins when the IRS files a Notice of Federal Tax Lien, and this notice goes on your credit. The result is that the lien essentially diverts any income coming to […]

Do Other Countries Have An Equivalent Of The IRS? What Are They Like, And How Do They Work?

According to a 2015 Pew Research Center study, 59 percent of respondents agreed that “there is so much wrong with the federal tax system that Congress should completely change it.”  But change it to what? Before conversations about tax reform begin in earnest, perhaps it’s a good time to see how other countries handle their […]

What Happens to a Couple’s IRS Debt During a Divorce?

Separating from a spouse of many years—possibly 20 or more—can be deeply painful emotionally. And then, of course, there are the innumerable logistical issues to be hashed out: Splitting up assets, figuring out custody and visitation schedules, and negotiating other fine points of the divorce. Whether your ex collaborates to find solutions or fights you […]

Getting Over the Fear and Humiliation Caused by Your IRS Tax Debt: A Roadmap

If you’re afraid of your Form 1040 or other tax forms, you’re not alone. Our IRS tax fears–sometimes warranted, sometimes irrational–can wreak havoc and affect all aspects of our lives. Here’s some advice to help you overcome the fear and humiliation you may be feeling: You’re too embarrassed to ask for help. No one can […]

IRS Debt? Don’t Do These 5 Things

When it comes to filing taxes, most people want to be up-to-date on their finances and have their earnings accurately reported. What no one wants is a letter from the IRS stating that they owe money. But what then? Do not liquidate your retirement savings to pay down the IRS debt. You might consider liquidating […]

7 Warning Signs That Your IRS Enrolled Agent is Not Doing a Good Job…and Could Be Making Your Situation (Much) Worse

As Ben Franklin famously observed, there are two things guaranteed in life: death and taxes. With tax season underway, it’s critical to ensure your IRS enrolled agent is promptly–and correctly–filing your taxes. Here are seven warning signs that might indicate an agent is making your situation worse: No strategic plan Your IRS enrolled agent should […]

Here’s What Happens if You Mess with the IRS: Cautionary Tales

Don’t forget how they finally caught Al Capone. It wasn’t for murders or gun-running. It was for tax evasion and IRS fraud. And that wasn’t the end of the Internal Revenue Service’s criminal convictions: According to its annual report, the IRS made approximately 3,000 convictions in 2015 alone. So here are a number of cautionary […]