Tag Archives: IRS Tax Debt

Using the 5 Whys to Understand Why You Got into IRS Tax Debt in the First Place

Life doesn’t always go according to plan, despite our best intentions. When we get into tricky situations, it can be helpful to know what went wrong–so we don’t make the same mistakes in the future. The “5 Whys” provides a simple yet powerful framework for doing so. Especially when it relates to IRS tax debt. […]

Can Bankruptcy Wipe Out Your IRS Tax Debt?

Filing for bankruptcy is a last-ditch measure when you see no other way to get out of a financial hole. What happens if part of your debt is IRS Tax Debt? It depends on how you’re filing for bankruptcy and how you’ve handled your tax filings. The two most common types of personal bankruptcy are […]

How Does Your IRS Tax Debt Affect Your Credit Score?

Your credit score plays an important role in your life. It determines the interest rate you’ll have to pay on car loans, home mortgages, etc. In addition, insurers may factor in your credit score when they’re trying to decide your auto insurance rates. Potential employers might also check out your credit worthiness when making their […]

Do You Owe Money to the IRS for 2015? Will You Owe More For 2016? Here’s a List of Critical Dos and Don’ts

Being in debt to the IRS can be scary, regardless of how much money you owe, but ignoring the debt will only make the problem worse. So, what do you do if you already owe the IRS money for 2015, and you’ve just found out you’ll owe again in 2016? Let’s take a look at […]

IRS Tax Debt Resolved!

Many times when our clients hire us to resolve their outstanding IRS tax debt, they are usually up against a wall. Either their bank accounts have been levied, wages garnished, or the IRS is knocking at their door. One of our clients came to us in January of this year with a levy against his […]