Tag Archives: IRS Tax Liability

Preparing for an IRS Audit When Your Records Are a Mess

Nothing may make your heart pound and your head throb like the notice of an IRS audit. Even if you know the precise location of every form, receipt, and file folder, an audit can have negative financial implications that affect you for years to come. But what if your tax records are in less than […]

Part III: What To Do If You Could Lose Your Passport Due to IRS Tax Liability

A New Law Means That Delinquent Taxpayers May Lose Their Passports As we discussed, due to a new law, the State Department may now seize US citizens’ passports if the holders have seriously IRS tax liability (defined as owing more than $50,000). If you’re someone at risk of losing your passport, you should know about the […]

7 Steps to Initiating an IRS Installment Agreement

Today we are writing about the IRS installment agreement process and how it can help you as it relates to your IRS tax liability.  First and foremost, there are various types of payment plans available to fit your needs. Secondly, depending on what you may owe the IRS, either for your business or you personally, […]