Were you late on your taxes and are now facing a sizable debt due to back taxes? While past-due taxes place a significant financial burden on filers, there are options. Relief is available; you just have to know where to look. Use available resources to your advantage when trying to pay past-due taxes. Learn how… Read more »
If you’re having tax problems
Category: payment plans
If you owe the IRS in back taxes, the federal agency can assess a tax lien against you for the amount you owe, plus any penalties and interest that you have accrued. This can mean the federal government has a legal claim to your property, and it can remain this way until your tax debt… Read more »
When you owe back taxes to the IRS, the federal agency can take several measures to collect the money owed – including garnishing your wages. This means that the IRS can contact your employer and have them direct a portion of your income — whether it is hourly wages, salary, commissions, or bonuses — directly… Read more »
Do you owe a large tax sum to the IRS that you cannot afford to resolve it in one payment? Relax. You have options. Instead of putting yourself in a tough place, financially, to pay your tax bill, you can work with a tax attorney to set up a payment plan with the IRS. This… Read more »
If you owe the IRS money in back taxes, you must resolve the debt to avoid having the federal agency take action against you. Some assessments they can enforce include: placing a lien on your home or garnishing your wages.
While you can work with a tax preparer to file your annual taxes, there are situations where you should seek representation from a tax attorney. Some instances where it can benefit you to hire an attorney include: if you’re facing a tax audit; if you’re being charged with tax fraud; if you have a large… Read more »
If you owe money in back taxes, the IRS can legally take any income you make to pay off your federal tax debt. This can cause both financial hardship and embarrassment, as the IRS will contact your employer and require them to send a portion of your income directly to the federal agency. To avoid… Read more »
When you owe the IRS money in back taxes, the federal agency can use a variety of ways to obtain the debt, including assessing a bank levy. This means the IRS can place a freeze on your accounts and seize the money until your tax debt us satisfied. To try to have the bank levy… Read more »
When you owe money to the IRS, you can typically set up a payment plan. But what happens if your financial situation changes before you’ve completed your payments, and you default on your plan? Find out what to do if you default on your IRS payment plan, and how a tax attorney can help.
An IRS installment agreement is one of the best ways to resolve your tax debt problems. You can avoid most types of IRS collection actions and pay off several years of tax debt as long as you make your monthly payment.