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This IRS Tax Resolution Plan May Afford You the Ability to Pay Off Your Tax Debt for Less Than the Balance Due With all the current economic turmoil, some cannot afford to pay their tax debt. Unfortunately, the IRS collection arm will continue regardless; however, some IRS programs are available to these individuals to manage…

How to Discover If You Have an IRS Tax Lien and What to Do to Remove Them What is the Difference Between a Tax Lien & a Tax Levy? Although these two terms are significantly different in application, they are often misapplied by many. An IRS Tax lien is the IRS’s legal claim against your…

Tax Levies & Liens If you have outstanding tax debt and no apparent resolution, the IRS can execute tax liens or levies against you. Either of these actions goes beyond just owing the IRS money; it is the actual IRS enforcement action to collect on the tax debt. With liens and levies, you could see…

Tax Attorney vs. CPA vs. IRS EA: Why Not Hire a Three-In-One? When looking for a tax professional to resolve a stressful and complex tax issue, whether personal or business-related, it can be challenging to narrow down which type of tax professional fits well for your situation. Wouldn’t it be ideal to employ a tax…

A Partial Payment Installment Agreement (“PPIA”) allows you to pay off your tax debt for less than the total amount you owe. This agreement puts you on a monthly set amount payment, which then ceases as of the Collection Statute Expiration Date (“CSED”). Once the CSED has occurred, any tax balances tied to this date…

When it comes to Tax Liens, it is better to employ preventative measures than to deal with curing them. Take our word on this. When the Internal Revenue Service (“IRS”) issued a tax lien, they made a public declaration that you are delinquent on your taxes. Tax Liens are filed with the applicable county, typically…

Certain taxpayers are surprised that they owe additional income taxes yearly even though their employer withholds taxes from their weekly paycheck. Having an outstanding tax debt is not as uncommon as you think, and there are many reasons it could happen. About 24% of all Americans owe back taxes. If you’re among them, you know…

How Does a Lien Originate The IRS may bring a tax lien against you if you have a large tax debt. A lien is not the same as a levy. It does not automatically result in the loss of one’s property. A lien gives the IRS creditor rights to the property under the lien, which…

For many, dealing with the IRS can invoke significant stress, especially when one has received a notice of an impending audit. Should I lawyer up? This may be the first reaction; however, in many instances, this is not necessary. When you get an IRS notification, you should first take a deep breath and relax so…

Surprisingly not many taxpayers either know about the IRS’s penalty forgiveness under Penalty Abatement (“PA”) and First Time Abatement (“FTA”) or take advantage of them if their tax situation warrants it. The IRS introduced this penalty waiver over 20 years ago, yet it is often overlooked. Tax penalties can significantly increase the total balance owed,…