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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 […]

Life After Setting Up an IRS Installment Agreement: How to Get Off the Treadmill and Back to Zero with the IRS

It’s time to breathe a sigh of relief — you have successfully set up an installment payment and are on the path to getting back in the good graces of the IRS. Unfortunately, you’re not quite out of the danger zone. Keep the following suggestions in mind as you strive to complete your installment plan: […]

What Happens If Coinbase Gives Your Information to the IRS?

If you think your information is safe when you hand it over to crypto exchanges, think again; top exchange provider Coinbase was recently forced to turn over personal information for over 13,000 users. If the IRS had its way, however, this handover would have spanned the entire Coinbase platform. If you were spared, you can […]

What to Say (And What Not to Say) When Communicating With an IRS Agent

You’ve jumped a variety of hurdles and managed to get in touch with an IRS agent. This is no easy task, but you’re not done yet. How you proceed could determine whether you make it through your current tax nightmare in one piece — or whether you make matters worse. The suggestions highlighted below will […]

What Are the Ways You Can Set Up an IRS Installment Agreement?

If you’ve fallen behind on your taxes, an installment agreement may be your best bet for staying out of trouble with the IRS. Setting up this agreement can prove surprisingly difficult, however. In addition to completing piles of paperwork, you’ll need to offer substantial documentation underscoring your current financial situation. Even so, this approach remains […]

What’s the Difference Between Taxable and Non-Taxable Income?

Sometimes, the tax concepts that seem like they should be easy to understand are, in reality, among the most complicated. Such is the case for taxable and non-taxable income, which, at first glance, may appear simple enough. Dive in a little deeper, however, and the distinctions between these two types of income are less clear. […]

Can You Negotiate Another IRS Installment Agreement If You Owe Taxes From a Previous Year?

The unfortunate reality of tax debt is that it’s rarely resolved in one fell swoop. Even those fortunate enough to secure favorable installment plans may suffer additional tax debt in the future. After all, the financial issues that lead to those initial tax problems are unlikely to disappear immediately. Your failure to adjust your installment […]