Category: Blog

4 Signs to Help You Avoid IRS Debt Tax Relief Scams?

Tax Resolution Scams

A tax relief organization can help individuals settle their tax debts and avoid IRS penalties such as bank levies and wage garnishments. What you may not know is that there are some unscrupulous tax resolution companies perpetrating tax relief scams. Partnering with such companies can worsen your problems before we can even start talking about settling your taxes and avoiding IRS tax penalties. That is why you must first learn about a company’s history and know how to avoid IRS debt relief scams before securing their services. In this blog post, we introduce four signs that can help you avoid

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Types and Limits of Wage Garnishments: All You Need to Know

Wage Garnishment Process

If you have an outstanding debt, such as a student loan, child support, or back taxes, the government can garnish your wages. How wage garnishment works is that the court orders your employer to withhold part of your salary and use it to meet your outstanding liabilities. Wage garnishment laws vary from one debt type to another. What you must know is that there are a number of restrictions on wage garnishments, including the amount of money your employer can garnish. It is always advisable to speak to experts to learn how wage garnishment works and get help avoiding or

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6 Prerequisites for Successful Payroll Tax Negotiations

Payroll Tax Negotiation

Paying taxes on time is a civic duty and any deviation can lead to undesirable consequences. If you owe the government a payroll tax debt, the IRS (Internal Revenue Service) has a lot of tools to seek recourse, such as penalize you, take over your business, and seize your bank accounts. The only way to get out of such a problem is to face it head-on as soon as possible, but before you get to that point, here are a few prerequisites that must be followed to increase chances of success in your payroll tax negotiation. Read on. Must Read:

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5 Must Know Facts about an ‘Offer in Compromise’

Offer in compromise settlements

If financial hardships are preventing you from settling unpaid taxes, an OIC or ‘Offer in Compromise’ settlement may be the best solution to your troubles. Part of the IRS’s ‘fresh start initiative’, an OIC is an agreement between the IRS and a taxpayer, wherein the latter is allowed to pay less than their total outstanding dues. Before you decide to settle your tax debts through an Offer in Compromise, there are more than a few facts you must know. Here are five such facts related to an OIC. Must Read: 7 Useful Guidelines To Qualify For An Offer-In-Compromise 1. IRS

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Offer in Compromise Vs Non-Collectible Status : Which Way to go?

IRS Non-Collectible Status

Failure to meet your annual tax obligation is an invitation to severe financial and legal consequences. The IRS can impose legal penalties, delay reimbursement, and in worst-cases, seize your possessions and put you behind bars. There is no escape from filing and paying your taxes, but the IRS provides a few avenues to help those who are unable to make payments due to financial difficulties. An Offer In Compromise and Non-Collectible status are two solutions available to help taxpayers who meet the IRS’s financial hardship criteria. Both options, however, have their pros and cons, which you need to be aware

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Procedural Map to an IRS Tax Investigation

IRS Tax Investigation

The Internal Revenue Service (IRS) is a government agency responsible for collecting taxes and administering the Internal Revenue Code. The IRS also conducts criminal investigations on any personnel or organization against whom they may find fraudulent evidence while an audit. When facing an investigation by the IRS, tread smartly to avoid any civil and criminal charges and the resultant punishment if you are found guilty of tax fraud. Before you can learn how to protect yourself, you first need to familiarize with the whole IRS tax investigation process. Given below are four key stages of the investigation. Must Read :

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Tax Debt Settlement : Everything You Must Know on IRS Tax Settlement Firms

Irs Tax debt settlement

In the event that the IRS has summoned you, you may have stumbled across a number of TV commercials tax debt settlement firm that promise to settle your taxes.  Uncollected taxes are way above 280 billion and growing each day, which is why the IRS is constantly striving to collect from individual taxpayers and businesses. To remedy an otherwise frightful ordeal, many agencies help slack taxpayers with their debts, including filing for IRS debt relief. Negotiating for IRS debt forgiveness is a lifesaver for many; however, reaching out to the right people is important to set realistic expectations and chart

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Understanding the Difference Between Innocent and Injured Spouse Relief

Difference Between Innocent and Injured Spouse Relief

Innocent and injured spouse tax relief are two different avenues that can be pursued by couples filing joint tax returns if one party faces tax consequences due to the actions of their partner. Although the two scenarios are fairly different, they are both meant to release the innocent spouse from income tax liabilities that arise from joint tax filing. Before you request the IRS to consider you for innocent spouse relief or injured spouse relief, it is imperative to understand the differences between the two. We cover the basic differences in the blog post. Must Read: Innocent Spouse Relief :

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Appeals: The Gateway to Resolving IRS Tax Disputes

tax dispute resolution

Any discrepancy in the involved tax collection, proposed tax assessments, or other IRS actions can increase a taxpayer’s grievances. Once you receive a final notice from the IRS, you may seek tax dispute resolution through legal intervention. Filing appeals is a preferable, yet less formal approach than other court proceedings, but is independent of judicial mandates of evidence or procedure. In the past, appeals have helped settle a significant number of cases. Let us take a closer look at the various aspects of Appeals, and how you can benefit from the process. Must Read: IRS Appeal, Appeal Issues, and Appeal

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Debunking 5 Myths About the IRS Offer in Compromise Program

IRS Debt Forgiveness Program

The IRS is considered a brutal government agency by many taxpayers who become uneasy when filing time approaches and shake in their boots when contacted by the agency. There are a number of situations when the IRS can cut down the amount of tax debt, provided the taxpayer qualifies according to guidelines laid by the IRS. One of the IRS debt forgiveness programs that promises IRS tax debt relief is the “Offer in Compromise”, which taxpayers and businesses sinking under tax debt can give a shot. Despite the existence of such programs, delaying paying your taxes without good reason can

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