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Strategies an Enrolled Agent Can Take to Help You Deal With a Large IRS Debt

IRS debt is notoriously stressful, and, as an anxious taxpayer, you may have no idea where to turn first. While many taxpayers attempt to undertake dealings with the IRS on their own, this approach is rarely advisable. With an enrolled agent on your side, you can tackle IRS issues with confidence, knowing that a viable […]

Penalties For 941 Tax Non-Payment — And What to Do About Them

As an employer, you are responsible for reporting on federal income tax withholdings — and forwarding payment to the IRS on time. This often proves easier said than done. However, if you’re struggling to pay 941 taxes or have already fallen behind, you risk having harsh penalties brought down on you by the IRS, as […]

IRS to Waive a 2018 Penalty That Will Impact Over 400,000 Tax Filers

Good news may seem impossible when it comes to taxes and the IRS, but it arrives every so often. This is certainly true in 2019. Many tax filers will be pleased to learn of an exciting development involving 2018 federal taxes: a notable underpayment penalty has been waived, allowing over 400,000 taxpayers to breathe a […]

What If an Emergency Makes It Impossible to Pay Your Monthly IRS Installment?

You’ve done the hard work of establishing a monthly IRS installment plan — and until recently, you’ve managed to make every payment on time. That all could change if an emergency situation comes into play. Below, we highlight your best options for handling emergencies that make it impossible to pay your IRS installment on time: […]

What’s the Least Amount of Money You Can Pay Per Month on an IRS Installment Plan?

Installment plans are among the most commonly relied upon options for handling tax debt. While the IRS encourages high payments in the interest of settling debt quickly, this simply isn’t realistic for most people. Thankfully, IRS installment plans offer a variety of options that can be worked into sparse budgets. Read on to learn more […]

How Does Sustained Debt to the IRS Affect Your Credit Score?

IRS tax debt can impact nearly every facet of your daily life. Beyond the financial burden and the general stress of constantly dealing with the IRS, you may eventually wind up with a less than desirable credit score, which, in turn, could leave you struggling to obtain new lines of credit. Before you get too […]

The Many Ways You Can Deal With IRS Debt

IRS debt can be a huge burden, but thankfully, there are many available approaches for dealing with this stressful ordeal. The following are a few of your best options for resolving your debt issues: Set Up an Installment Plan A top approach to resolving IRS debt, a standard installment plan allows you to pay off […]

The Latest IRS Guidance on Cryptocurrency Taxes: How Will It Impact the Crypto Community?

Death and taxes may technically be the only constants in life, but even taxes can see numerous changes in a short period of time. Such has proven the case with cryptocurrency taxes, which bring new complications to an already confusing process. Previously, crypto miners and traders were forced to muddle through the process in hopes […]

Fall 2019 Best Practices for Scoring an Offer in Compromise from the IRS

An IRS offer in compromise could be the ultimate solution to your current tax woes. This arrangement allows you to settle your current tax debt for far less than what you actually owe. It’s not exactly easy to achieve, however. Below, we’ve highlighted a few up-to-date options for scoring an offer in compromise in 2019. […]

Avoiding an IRS Audit When You Have Crypto Investments

Change is afoot in the crypto world. While virtual currencies have long been regarded as taxable, their use was not heavily monitored by the IRS until recently. Now, however, the IRS is beginning to crack down on tax evaders who rely on virtual currency. As a crypto trader, however, you’re not doomed to audits or […]