Part I: How IRS Back Taxes Affect Passports

A New Law Means That Delinquent Taxpayers May Lose Their Passports – 3 Part Series The recently enacted “FAST Act”–Fixing America’s Surface Transportation–provides long-term funding for the country’s highways and other transportation projects. While an infrastructure act might not seem relevant to you, it may have a huge effect: because one clause in it may […]

Confronting Your Worst Fears About Your IRS Tax Trouble: How to Tackle Your Messes Head-On

It’s commonly said that people should face their fears to overcome them. For instance, if you’re afraid of the dark or heights, gradually expose yourself to environments where you can confront this fear while still feeling safe. However, this solution might not be much help if you fear the Tax Man. According to a recent […]

How to Tell Whether a Communication from the IRS is Real or a Scam

Tax identity thieves are paying attention. They listen to the Internal Revenue Service (IRS) warn the public that the agency will not call or send emails to discuss tax issues. Instead, the IRS always first contacts taxpayers via old-fashioned snail-mailed letters. So, that’s what tax criminals are doing now, too. In fact, even the IRS […]

IRS Offer in Compromise Program: January 2017 Edition

According to a proposed rule set published in October 2016, the Internal Revenue Service (IRS) could soon increase the fee for its tax liability IRS offer-in-compromise (OIC) settlement program. By hiking its cost from $186 to $300 after February 27, 2017, the agency aims to lose less money on the program. However, the IRS would […]

Owe Money to the IRS? Here are 20 Terms to Know

One of the reasons many people struggle with taxes is because the IRS effectively has its own language. You can access IRS instructions and forms with ease, but if you can’t decipher the vocabulary, you will face trouble and frustration – almost as if you’ve been parachuted into a surprise college Latin final. To simplify, […]

IRS Audit Concludes with No Change to 2014 Tax Return!!

Our client came to us this past December with an IRS Audit looming over his shoulders. He received notification from the IRS (generally called an IDR, or Information Document Request) that the IRS was conducting an audit for his 2014 tax return. More specifically, the IRS Audit wanted to take a peek at car and […]

5 Reasons to File Your IRS Taxes as Early as Possible

If you always file your IRS taxes as soon as those W2s come in and then laugh at the procrastinators who hold back until April 15 draws near, you likely have your tax situation under control. The earliest day the Internal Revenue Service (IRS) will begin processing 2016 tax returns is January 23, 2017. What […]

How to Tell Whether Communication from the IRS is Real or a IRS Tax Scam

Tax identity thieves are paying attention. They listen to the Internal Revenue Service (IRS) warn the public that the agency will not call or send emails to discuss tax issues. Instead, the IRS always first contacts taxpayers via old-fashioned snail-mailed letters. So, that’s what tax criminals are doing now, too. In fact, even the IRS […]

Trump’s Proposed Tax Policies and How They Affect You if You Owe Money to the IRS

Donald Trump’s tax proposal is detailed, but it doesn’t necessarily match what he said it would do. He proposes a three-bracket system – with rates of 12 percent, 25 percent and 33 percent – down from the current system, and the removal of the head-of-household tax-filing category. The standard deduction would be $15,000 for single […]

5 Character Traits to Look for When Retaining an IRS Tax Specialist

Clients expect their IRS tax specialists to boast a degree of precision and have great organization skills, but there is more to being an exceptional tax preparer than these two traits. The most successful IRS tax specialists tend to have vast amounts of practical knowledge, and they are simultaneously extremely precise with a sharp eye […]