Negotiating a Tax Lien Withdrawal A federal tax lien withdrawal removes the Notice of Federal Tax Lien (NFTL) from the public records. You can request a tax lien withdrawal once you’ve paid off your tax debt or as part of your installment agreement negotiations.
Important Notice: Consumer Alert from the Attorney General on “Tax Relief” ScamsWhat’s Considered Reasonable Cause for Penalty Abatement?
Reasonable Cause for Penalty Abatement The IRS may grant penalty relief for reasonable cause based on all the facts and circumstances of your situation. This broad category of penalty relief can cover many different types of accidents or unexpected circumstances.
Can the IRS Garnish Wages from Both You and Your Spouse?
IRS Wage Garnishment Policy The IRS can garnish the wages of both you and your spouse for joint tax debt. The IRS policy is generally to garnish the wages of the higher earning spouse, but they may deviate from this rule if you’ve flagrantly refused to pay your tax debt.
What If You Can’t Make the Minimum Monthly Installment Payment?
What to do if You Can’t Make the Minimum Monthly Installment Payment? If you find yourself unable to make the minimum monthly installment payment, you can negotiate a monthly payment amount that fits your budget by completing Form 433-F and working with the IRS employee assigned to your case. However, you’ll need to show that… [Read More]
How Long Does It Take to Pay Off IRS Tax Debt?
Factors That Indicate How Long It Takes to Pay Off IRS Debt Several factors will influence how long it takes to pay off your tax debt, including the amount of your balance, how old the tax debt is, and your overall financial situation. You may be able to settle your tax debt relatively quickly if… [Read More]
3 Ways to Pay Off Your Installment Agreement Faster
How to Pay Off Your Installment Agreement Faster If you want to pay off your installment agreement faster, you have a few different options. The flexibility offered by IRS payment plans allows you to pay more if you are able to, which allows you to cut down your balance and minimize penalties and interest.
Who Needs to File a 2018 Tax Return?
How to Figure Out if You Need to File a 2018 Tax Return 2018 tax returns are due April 15, 2019, but not everyone needs to file a tax return. Taxpayers most commonly need to file when they want a tax refund, when they earned more than the income threshold, or when they had self-employment… [Read More]
IRS Payment Extensions for Undue Hardship
How to Get an IRS Payment Extension Taxpayers can request a payment extension of six months or more if paying the tax on time will cause an undue hardship. Use Form 1127 to file this request extra time to pay your taxes without incurring late-payment penalties.
3 Types of IRS Penalty Abatement
What is a Tax Penalty Abatement? Taxpayers with unfiled tax returns or unpaid taxes are often hit with the following IRS penalties: The failure-to-file penalty, which accrues at 5% of your unpaid taxes per month The failure-to-pay penalty, which accrues at 0.5% of your unpaid taxes per month
5 Signs You Need to Contact a Tax Resolution Attorney
When to Contact a Tax Resolution Attorney Tax problems often start small—you’re a little late filing your return or making a tax payment. These issues can quickly become worse because of penalties, interest, and the challenge of paying back taxes and meeting your current obligations at the same time.