Lesser Knowns Facts about IRS Debt Relief

The Truth About IRS Debt Relief

According to a survey conducted in 2013, Pew Research found that 51 percent of Americans have unfavorable views of the Internal Revenue Service as it ranked it at the bottom of the list in terms of public performances and perception. There are only a few who appreciate IRS debt relief and refund policies that help countless people to overcome their tax woes. Continuing on the topic, in this blog post, we discuss a few lesser-known facts about the IRS relating to debt relief that everyone should know. Read on. Tax Relief Options The IRS has many provisions for taxpayers to

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Here’s What You Need to Know Before Seeking Tax Lien Assistance

Know About IRS Tax Settlement Firms

The IRS uses a tax lien to claim against the taxpayer’s property or assets if they fail to pay their taxes on time for a certain period. IRS tax liens can adversely impact the taxpayer’s credit history and create hindrances while securing any other credit in the future. Before establishing a tax lien, the government will file a public document: Notice of Federal Tax Lien, to warn taxpayers about the government’s legal right to their property. After receiving the notice, creditors should either pay their back debts immediately or seek tax lien assistance for opting one of the legal procedures

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COVID-19 Related Scams You Must Avoid

Tips to Identify and Avoid COVID-19 Scams

A recent report revealed that the IRS Criminal Investigation Division (CI) has witnessed a variety of Economic Impact Payment (EIP) scams and financial schemes decreeing to take advantage of many unsuspecting taxpayers. Scams related to COVID-19 aren’t just limited to stealing EIPs from taxpayers, they have extended to selling fake at-home test kits, cures, vaccines, pills, and advice on unproven treatments for COVID-19. To help you stay informed and steer you clear from such troubles, we discuss the three most common scams you should watch out for. Read on. Related Blog: Basic Guide to File Your Tax Returns 1. Scams

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All You Need To Know About Self-Employment Tax

About Self-Employment Tax

The federal government, in 1935, passed the Federal Insurance Contribution Act (FICA), which established taxes to help fund Medicare and Social Security. The FICA tax is 15.3 percent, paid by employees and employers, who split the burden into half each by paying 7.65 percent. In 1954, the government passed a Self-Employed Contributions Act (SECA) to ensure that freelancers contribute towards Social Security and Medicare. The act established that these individuals would pay the whole 15.3 percent without any other party splitting the burden. This tax is known as the SECA or self-employment tax. Although this difference might seem significant, individuals

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Simple Financial Adjustments to Help You Get Through The COVID-19 Crisis

Deal with Your Finances During the COVID-19 Crisis

The COVID-19 crisis has seen everyone getting back to the basics. While the crisis continues to squeeze many in terms of finances, everyone has more than enough time on their hands to learn to DIY a variety of things as a way to save expenses and set-aside an emergency budget. The best way to survive the crisis and emerge unscathed is to invest more time into shoring up your finances. The Law Offices of Nick Nemeth stand ready to help you with IRS problems pertaining to issues such as IRS appeals and IRS tax investigations. Let’s look at some simple

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Answering Frequently Asked Questions about the Coronavirus Relief Law (CARES Act)

FAQs about CARES Act

In light of the economic impact of the COVID-19 pandemic on individuals and businesses, the US government is offering monetary support through the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act. The government is providing ‘Economic Impact Payments’ to American workers to support them through the current financial turbulence. Maximize your chances of receiving the stimulus payments by filing all unfiled tax returns and seeking help with any ongoing IRS tax problems. Continuing on the subject, in this blog post, we answer a few frequently asked questions about the Coronavirus Relief Law (CARES Act). Read on. Related Blog:

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Relaxed E-Filing Rules – How to Keep Your Data Safe

3 important tips to help you file your taxes online safely

The Coronavirus COVID-19 pandemic has forced a better part of the world to work from home. The workforce of the IRS is also largely working from home, as a result of which revised tax filing guidelines have been released in recent times. The IRS is now going to accept e-signatures and is processing tax filings and related documents online. That being said, sending sensitive tax information through email poses certain risks. It is, therefore, essential that you stay informed on how to send your data securely to the IRS and ensure that it stays protected. Continuing on the subject, in

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Important Info for Taxpayers During Covid-19 Crisis – Filing Date & Economic Impact Payments

Coronavirus Tax Updates

The global COVID-19 pandemic is affecting the economies of almost all countries including the United States. The IRS understands the impact of the global crisis on individuals and companies which is why it is helping taxpayers with different tax issues to get over these hard times. If you are facing tax issues and looking for IRS tax relief, it is advisable to consult an IRS tax attorney. The Treasury and IRS are working closely with the government to provide relief to the American people. Continuing on the topic, in this blog post, we present some important info for taxpayers during

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Basic Guide to File Your Tax Returns

Guidelines for file your tax returns

Most people will agree that there are few things quite as scary as getting into trouble with the IRS. Many taxpayers get into trouble for committing simple and avoidable mistakes on their tax returns. With some care and the right knowledge, you can avoid making mistakes on your tax returns that can come back to haunt you in the future. In today’s post, we’ll share some useful guidelines to help you file your tax returns. When Possible, File Electronically To guarantee the highest level of accuracy on your return, it is recommended to file electronically. The system used for filing

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Answering Commonly Asked Questions about IRS Penalty Abatement

FAQs about IRS Penalty Abatement

A penalty abatement is a request made to the IRS to either terminate or reduce a tax penalty. Such an abatement is applicable only if you have made an effort to comply with the IRS in the past but couldn’t pay due to circumstances beyond your control. A penalty abatement is commonly requested in cases such as when you want to reverse penalties for failing to file or pay taxes. Continuing on the topic, in this blog post, we answer some commonly asked questions about IRS penalty abatement. Take a look. What is a reasonable cause letter for IRS penalty

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