Archive / IRS

RSS feed for this section

Sneak Preview – Website Updates Part VI

IRS Tax Lien Release/Subordination/Discharge When the IRS slaps a tax lien against your property over non-payment of a tax debt, it can wreak havoc on your financial situation and possibly hamper your ability to obtain credit. Fortunately, there are a number of ways to minimize the damage that an IRS tax lien can cause while […]

IRS Pushes Tax Return Deadline Back!

Great news for taxpayers, the IRS has extended the deadline for filing 2020 taxes from April 15th, 2021 to May 17th, 2021. This will give taxpayers more time to take care of bills and file their returns amidst the craziness from stemming from COVID19. While Highland Tax Group, Inc. does not specifically prepare taxes, we […]

Completing a Real-Estate Mortgage Transaction When Subject to a Tax Lien: Part III

Borrowing to Buy a Residence When Subject to a Tax Lien One of the more extraordinary powers one can wield to improve one’s life is the power to borrow money at a favorable time, especially to buy a home. A home is often one’s first and best investment, it is an investment that requires most […]

Completing a Real-Estate Mortgage Transaction When Subject to a Tax Lien: Part II

Selling a Mortgaged Property When Subject to a Tax Lien Life goes on, even when you are subject to an IRS or other state or local tax authority’s lien or have a tax lien against your real property. At least, you need and want life to go on despite the tax lien. And those personal […]

Completing a Real-Estate Mortgage Transaction When Subject to a Tax Lien: Part I

Nothing complicates a financed real-estate transaction quite like an IRS or other tax lien. Real-estate transactions involving a mortgage are complex enough, even when they don’t include a tax lien. Add the IRS or state or local taxing authority to the mix, and a tax lien can look like a deal killer. A tax lien […]

Ways to Delay or Stop the IRS Collections Process

You’ve made every effort to settle your tax bill, but you just can’t achieve a positive standing with the IRS. Collections could be in your future if you don’t take action. Don’t lose hope just yet. A few final options may be available for stopping IRS collections or at least delaying the process until you […]

What Happens If You Owe the IRS in 2020 But Set Up an Installment Plan in Previous Years?

The economic struggles of 2020 have caused enough stress already, but this can quickly be amplified if you expect to pay in when tax season arrives. Even worse: paying in when you’re already dealing with an installment plan to deal with debt from previous years. Keep these considerations in mind as you seek a solution […]

Determining Your IRS Installment Agreement Amount When the Future Is Uncertain

Determining the right amount for IRS installments is never easy, but this takes on a whole new level of confusion when you lack confidence in your financial future. If, for example, you anticipate layoffs at your place of employment, you won’t be in a position to take on an ambitious payment plan. Still, it’s important […]

Can You Renegotiate Your IRS Installment Agreement? Should You?

You’ve faithfully paid your IRS installments for months or even years. Circumstances change, however, and the arrangements that previously worked may no longer be ideal. Now, you face a difficult decision: renegotiate your installment plan or stick with the status quo? Using the IRS Online Payment Agreement Tool In some cases, it’s easiest to make […]

Should You Set Up an Installment Agreement With the IRS or Try for an Offer in Compromise?

You’re desperate for a solution to your tax debt. Two main options exist: the installment agreement and the offer in compromise (OIC). Each approach holds numerous advantages and challenges. Choosing between them can be confusing — and the wrong selection could set you up for a world of trouble. Keep the following considerations in mind […]