The new year is upon us. You may be just coming out of your turkey coma or focusing on your near year’s goal of shedding those extra holiday pounds. While April 15 may still be a long way off—and preparing your tax return is never a task you look forward to—there are several reasons that filing early can provide serious benefits for you in the long run:
IRS trouble? Why hiring a tax attorney is your best bet
No matter how you slice it, facing problems with the IRS is stressful. Maybe you’re going through a corporate audit. Or perhaps you have an ever-growing pile of tax debt, and you can’t see a way out. Dealing with tax issues is confusing and unfamiliar to most people—making them difficult to manage on one’s own.
When the IRS sends you a letter in the mail
If you receive a letter in the mail from the IRS, it doesn’t necessarily mean you’re in trouble. They could be sending you a refund check. Or they could be contacting you to say that, after reviewing your tax return, they’ve found that you may be entitled to a higher refund than you’d claimed.
Why extension filers shouldn’t miss the October 15 deadline
If you requested an extension to file your 2017 income taxes, your deadline is approaching. Tax payers who requested an extension have until October 15 to file their income tax return for last year.
Responding to IRS collection efforts
There are many people with federal tax debts here in the United States. According to the Internal Revenue Service, overall, there is currently around $458 billion in back taxes owed to the federal government.
Does owing back taxes affect my credit?
Last year, you made a major career change. You moved from your safe, corporate job and branched out on your own. Things have gone well. Your earnings have been high, and you’re considerably happier in your new position.
Good news for people with a tax lien
Having a tax lien can be a huge burden in your life. If you failed to pay your taxes, the government can put a claim on your property—which can include land, personal property and financial assets. This can be a worrisome prospect. And if you can’t pay off your tax debt right away, the lien can loom over you—causing you a lot of stress.
How to recognize an IRS phone scam (part 2)
In a previous post, we talked about common IRS phone scams. We discussed some of the behaviors and scare tactics such scammers employ to try to steal your identity. In this post, we provide context. In order to effectively spot an IRS scammer, it's useful to understand how a legitimate IRS employee does--and doesn't--act.
How to recognize an IRS phone scam (part 1)
You're at home, starting to cook dinner. Suddenly, the phone rings. You answer, and the voice on the other end of the line identifies themselves as an IRS employee. They inform you that you've been charged with serious tax crimes, and you could face arrest if you don't clear up the matter within the next 24 hours.
How identity thieves are exploiting hurricane relief
In previous posts, we've discussed the growing issue of identity theft across the country. If your Social Security Number and other personal information gets into the wrong hands, it could have a devastating effect on virtually every aspect of your life. The criminal could clear out your bank accounts, file a fraudulent tax return in your name, steal your tax refund as well as other violations. Such a breach can leave you feeling angry and vulnerable.
