Category: Blog

When to Hire a Tax Attorney

Hire reputable tax attorney

Hiring an IRS tax attorney is the best way to escape harsh penalties and collection action by the IRS. There are, however, instances where you can deal directly with the IRS, especially when the errors or omissions that are at issue pertain to an amount that has little to no impact on the gross income that you reported. It is advisable to always hire an IRS tax attorney when there are chances things could go south. In this blog, we look at some of the scenarios where you need to hire an attorney to help with IRS tax problems. When

Read the full article…

Guide to Preparing a Request for Appeal

How to file an appeal with IRS?

Every year, millions of tax accounts are audited by the IRS. An IRS audit is a result of a mistake in a taxpayer’s return or suspicion of potential tax fraud. Sometimes, you may receive an unfavorable ruling after a tax audit. If your tax account was audited recently and you are not satisfied with the outcome, you have the option to request for appeal in the IRS appeal office. The IRS appeals phone number is inundated with calls from taxpayers seeking to get decisions against them assessed. In many cases, the IRS office of appeals may overturn or at least

Read the full article…

All You Need to Know about Tax Payment Plans

Tax Payment Plans

Many times taxpayers find themselves in a situation where they owe taxes and are unable to pay at once. The IRS takes strict action when it comes to collecting back taxes and enforcing tax laws. If you find yourself in a situation where you can’t pay your taxes all at once, you can apply for various IRS payment plans that can help you pay your back taxes in a convenient way. In this blog post, we will discuss the different payment plans offered by the IRS and how they can help you clear back taxes. Read on. What is an

Read the full article…

How Tax Debt Can Impact Unemployment Tax Refunds

Understanding IRS Debt Relief

A tax debt can have far-reaching consequences in a variety of ways. That is why it is important to do all you can to pay outstanding taxes as soon as possible. One of the ways tax debt can negatively impact taxpayers is by interfering with unemployment tax refunds. According to the IRS, Unemployment Tax Refunds are subject to normal offset rules, which means they can be seized on account of unpaid federal tax, state income tax, state unemployment compensation debts, child support, spousal support or student loans. Tax attorneys can help taxpayers seek IRS debt relief on favorable terms that

Read the full article…

Tax Liens: What is a Tax Lien Certificate?

Tax lien certificate

A tax lien certificate is a legal document that is issued against a taxpayer’s property that has a lien placed on it due to unpaid taxes. Tax lien certificates are sold to investors through an auction process, allowing the tax authorities to recover the tax amount along with penalties and interest. Taxpayers that are the subject of tax lien should immediately seek tax lien assistance from seasoned tax attorneys. Read on as we discuss various aspects of a tax lien certificate. Definition of a Tax Lien Certificate According to National Tax Lien Association (NTLA), a tax lien certificate is an

Read the full article…

Tips to Take Advantage of Tax Loopholes

FAQs about IRS Penalty Abatement

A tax loophole is a provision that allows taxpayers to avoid paying tax on some of their income. In general, tax loopholes are considered to be a forte of corporations and businesses but there are quite a few that individual taxpayers can take advantage of to save taxes. There are a few gaps in the tax code that are perfectly legal to leverage as a taxpayer. In this blog post, we will discuss some common loopholes in the IRS tax code that can help you save on taxes. Read on. Capital Gains Tax Capital gains tax is the money that

Read the full article…

Common IRS Audit Triggers

IRS Audit Triggers

Preparing tax returns is a complex affair for many taxpayers. The possibility of making a mistake and risking an IRS audit leaves many taxpayers extremely worried. Although full-blown tax audits don’t happen often, there are some factors that can readily trigger an IRS audit. In this blog post, we will discuss some common IRS tax investigation or audit triggers that you must strive to avoid. Read on. Discriminant Information Function Discriminant Information Function or DIF is an IRS computer system that is specifically designed to scan every tax return received by the IRS. It detects any anomalies in the returns

Read the full article…

All You Need to Know about IRS Free File Online

IRS Free File Online

Every year, millions of taxpayers pay their taxes and file returns. For this, they seek assistance from CPAs, attorneys, and accountants. Tax preparation is expensive but there are several ways taxpayers can access free tax preparation assistance to avoid issues pertaining to erroneous or unfiled tax returns. One such option is the IRS Free File program. Read on as we discuss all you need to know about the IRS Free File Program and how you can benefit from it. What is the ‘IRS Free File Online’ Program? The IRS Free File Online Program is a partnership between the IRS and

Read the full article…

Understanding the Effect of Chapter 7 Bankruptcy on Tax Liens

Effect of Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the most commonly preferred type of bankruptcy for most taxpayers as it is a fast process and taxpayers do not need to pay back any debts they owe to the IRS. It takes about four to six month to process from the date of filing a chapter 7 bankruptcy. As of December 2020, the cost of filing was $330, and you usually need to visit the courthouse only once to file and get it processed. Who Can File Chapter 7 Bankruptcy? Not everyone is eligible for a chapter 7 bankruptcy discharge. If your gross income is

Read the full article…

All You Need to Know About Payroll Taxes in 2021

5 Ways to Handle Unpaid Payroll Taxes

Most people have substantial knowledge about federal and state income tax provisions but very little understanding of payroll taxes. Payroll taxes are the taxes that are applied to earned income such as wages, salaries, and bonuses or any income from a business in which you actively participate. Employers withhold these taxes from employees’ salaries and pay them to the government. Payroll Taxes are used to finance government funded public programs and social insurance programs. In this blog post, we will discuss some major aspects of payroll taxes. Read on. Types of Payroll Taxes There are two main components to the

Read the full article…