Mired in tax debt? The IRS offer in compromise could be your path to a fresh start. This program allows select taxpayers to settle their bill for far less than they actually owe. Whether you intend on seeking an OIC or simply would like to know more about your options, you’ll want to keep the following five […]
President Trump’s decision to declare a national emergency and divert military funds to border wall construction was, to put it lightly, controversial. If, however, the critics can find a silver lining, it’s that this approach could prevent a second shutdown…for now. Unfortunately, however, another shutdown is far from out of the realm of possibility. If […]
The recent government shutdown wreaked havoc on a variety of federal agencies, including, of course, the IRS. This all happened at the worst possible time — while IRS employees were dealing with the fallout of the new tax bill. A recently released National Taxpayer Advocate Annual Report to Congress reveals that the shutdown-related challenges faced by […]
An IRS Offer in Compromise may seem like your best bet for escaping the burden of tax debt that currently dominates your life — but it’s by no means guaranteed. One wrong move on the long road ahead, and you could inadvertently disqualify yourself from this valuable program. As you proceed, make every effort to […]
With a new year comes new opportunities to get your finances back on track. If you’ve suffered tax issues in the past, it’s time to tackle the problem head-on. Your hard work now could pay considerable dividends down the road. The following are a few top strategies for getting your tax situation under control: Seek […]
You went to great lengths to score an IRS payment plan. While it’s only natural to experience a rush of relief, it’s dangerous to get too comfortable. Mess this up and you could face a series of truly harsh consequences. It’s time to get your finances in order — here’s how to get started: Set […]
As some of you know, I had the opportunity to travel to Ecuador to take in some hiking last month. Pictured is the active Volcano Cotopaxi, my last hike of the trip. I stared at this mountain from my Hacienda for 3 days before attempting to summit. I fell ill with a cold and needed […]
While ‘Currently Not Collectible’ (CNC) status can provide considerable financial relief to some struggling taxpayers, it’s not a viable option for everybody. What’s more, CNC comes with its fair share of downsides. Whether you fail to qualify for CNC or prefer to take a different route, it’s important to get a better sense of your […]
The financial issues that made it impossible for you to file or pay your taxes on time have not gone away — and now, you’re struggling to make your monthly IRS installment payments. Keep these next steps in mind as you determine how to proceed: Don’t Ignore the Problem Missing even one installment could cause your account […]
You’re ages behind on your payroll taxes and well aware of the harsh consequences that could result from your failure to pay up. Naturally, you’re freaking out. Panicking won’t make the problem go away, but it is possible to resolve your tax concerns if you take these simple steps: File Employment Tax Returns And Make […]