Tax scams take many different forms. Recently, the most common scams are phone calls and emails from thieves who pretend to be from the IRS. They use the IRS name, logo or a fake website to try to steal your money. They may try to steal your identity too. Here are several tips from the IRS to help you avoid being a victim of these tax scams: Continue reading
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emails from thieves who pretend to be from the IRS. They use the IRS name, logo or a fake website to try to steal your money. They may try to steal your identity too. Here are several tips from the IRS to help you avoid being a victim of these tax scams: The IRS Fresh Start Program Helps Taxpayers Resolve Debts Easily
What’s the IRS Fresh Start Program?
The IRS Fresh Start Program was designed to help taxpayers with delinquent tax liabilities to both pay back their taxes, and avoid any liens being filed against them. The Fresh Start Program made changes to Installment Agreements, Offers in Compromise (OIC), and tax lien filings. Continue reading
Tax Tips for Preparing an Offer in Compromise
An Offer in Compromise is an option offered by the IRS for resolving outstanding tax liabilities. Through an Offer in Compromise, an eligible taxpayer can resolve their outstanding tax liabilities for an amount less than the amount of their total liability.
Through an Offer in Compromise, an eligible taxpayer can resolve their outstanding tax liabilities for an amount less than the amount of their total liability.Although you may hear many advertisements regarding “Saving Pennies on the Dollar” and promises of all your tax debts being written off, the actual process of preparing and receiving an accepted offer from the IRS is actually a much more complicated process. Continue reading
Should You Seek Professional Help For Your Tax Problem?
The question of should someone seek professional help is one that is constantly asked in society today. Usually this deals with a debilitating condition such as alcoholism, depression, and other mental health issues. However, knowing exactly when and where to seek professional help is sometimes overwhelming itself.
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society today. Usually this deals with a debilitating condition such as alcoholism, depression, and other mental health issues. However, knowing exactly when and where to seek professional help is sometimes overwhelming itself.Four Types Of Installment Agreements Help You Pay Tax Debts Monthly
If you’re financially unable to pay your tax debt immediately, you can make monthly payments through an installment agreement. As long as you pay your tax debt in full, you can reduce or eliminate your payment of penalties or interest, and avoid the fee associated with setting up the agreement. The IRS has four different types of installment agreements: guaranteed, streamlined, partial payment, and non-streamlined.
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nt agreementThree Ways To Avoid IRS Levies
It’s understandable to be concerned about the possibility of the IRS issuing a levy on your assets or bank account.
It’s understandable to be concerned about the possibility of the IRS issuing a levy on your assets or bank account.What’s levy?
The IRS defines a levy as “a legal seizure of your property to satisfy a tax debt”. Continue reading
Unfiled Tax Returns? 10 Things You Need to Know
Did you know you are considered a non-filer even if you have one unfiled return and it is considered a felony?
Did you know you are considered a non-filer even if you have one unfiled return and it is considered a felony?Check out the information below to help you file your taxes and get current with the IRS. Continue reading
Michigan Offer In Compromise Program
On January 1, 2015, the State of Michigan launched its new Offer in Compromise (OIC) program (learn more about OICs by clicking here). This program is designed to allow eligible taxpayers to compromise their current outstanding tax debts for an amount less than they owe. Both individuals and businesses are eligible to apply for this new program. Continue reading
On January 1, 2015, the Can’t Full Pay Your Taxes On Time? Request An IRS Installment Agreement
File Form 9465 to request an installment agreement
If you cannot full pay the IRS the amount you owe within 120 days, you can request a monthly installment agreement by filing Form 9465. Form 9465 can be used if you are an individual who owes individual income taxes, employment taxes related to a sole proprietorship that is no longer in business, or trust fund recovery penalties. Form 9465 can be filed with your tax return, or you may file Form 9465 by itself in response to an IRS notice. Continue reading
IRS Form 433-A: Collection Information Statement for Individuals
Introduction to the IRS Form 433-A
What is it used for?
Form 433-A is used to obtain financial information for an individual who is a wage earner or self-employed individual. It decides whether a specified individual can satisfy an outstanding tax liability. If there is funds left over after taking into account income and expenses, an installment agreement will normally result. If the form shows that there is $0 or negative income, a taxpayer will most likely qualify for currently non-collectible status. Continue reading