We’ve been discussing in our last couple posts the risks of DIY tax filing and the relative benefits of working with tax professionals to file tax returns. As we pointed out last time, both CPAs and tax attorneys have special competencies in handling tax filing....
Back Taxes Or Tax Debt
Be cautious of DIY approach to filing taxes, consider working with tax attorney, P.2
In our last post, we began discussing do-it-yourself tax filing, and the risks taxpayers take when they go it alone. As we noted last time, working with a CPA is certainly a better way to ensure an accurate return is filed. Working with an experienced attorney has its...
Be cautious of DIY approach to filing taxes, consider working with tax attorney
There is no shortage of resources for folks looking to take a do-it-yourself approach to filing federal income tax. For individuals with a relatively simple tax profile, this may not be such a problem, but for those who have a more complex situation, who have...
IRS to use contractors to collect back taxes: be aware of your rights, P.2
In our last post, we began looking at IRS initiative to collect certain types of tax debts by using third party contractors. One concern taxpayers are bound to have about the effort is how to protect themselves from being scammed. There are several measures the IRS...
IRS to use contractors to collect back taxes: be aware of your rights, P.1
Last month, the Internal Revenue Service announced that private debt collection companies will soon be partnering with the agency to collect tax debts. The effort was authorized by the Fixing America’s Surface Transportation Act, which requires the IRS to use...
What are my options for paying back tax debt? P.2
In our last post, we began discussing two common repayment options for taxpayers: installment agreements and offers in compromise. Like installment agreements, there are certain requirements that must be met for a taxpayer to qualify for an offer in compromise. As...
Federal tax liens: how to avoid, satisfy and obtain relief from them
When a taxpayer is unable to pay his or her tax debt, one of the consequences is that the Internal Revenue Service will file a Notice of Tax Lien, a document notifying creditors that the federal government has a legal right to the taxpayer’s property to satisfy...
What are my options for paying back tax debt? P.1
Paying back tax debt is not always an easy task, for either businesses or individuals. Whether the difficulty is because of tight finances, an unexpected tax bill, both or something else, taxpayers need to understand their options for getting right with the IRS.Two...
Fans stream to help hip hop musician deal with back taxes
Having unpaid taxes isn't a situation that only affects one particular group of people. Old or young, wealthy or not, employed or unemployed, any person can wind up owing taxes to the IRS. Generally speaking, the solutions people are faced with are the same as well....
Taking responsibility for tax mistakes someone else makes
Filing your own taxes can be fairly simple for some people. For others who have complicated employment tax structures, multiple incomes sources, investments, properties, significant deductions and/or businesses to report, it can be all but impossible to do their own...
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