Our Blog

As a business owner, you are constantly looking for ways to save money and reduce costs, right? The cost of employee wages can be one of the biggest expenses for businesses, but it's not something that can easily be cut back on. Fortunately, there is a way to get some relief from these cos...

Did you know that there are approximately 300,000 IRS audits each year? Most often, audits are related to unreported income. If you make payments or receive money through Cash App and Venmo, it's important to be aware of the $600 threshold associated with IRS payments. However, not everyone und...

How IRS Collections Works You might wonder what would happen if you partially paid your tax returns or didn’t file any returns. In such a scenario, the IRS quickly employs the following steps to collect what you owe them: The First Notice The first notice kickstarts the collection process...

Do You Owe Back Taxes to the IRS? If you think you owe back taxes to the IRS as the April 15 deadline looms, do your best to file your return. At the very least, request a six-month extension. The next step is to assess the various strategies for paying the IRS what you owe. Pay What You Can When ...

Unpaid taxes? Your passport might be at risk. Due to a new law expanding the Internal Revenue Service's power over your passport, there are things that you need to know if you owe the IRS and are planning to travel in the near future. IRC § 7345, enacted under the Fixing America's Surface Tra...

You've just been through a wild ride. You not only had to deal with the IRS, but you got hit with back taxes. You feel like you're up against a wall with nowhere to turn and no way to pay. For some people, this is where an offer in compromise (OIC) comes into the picture. An OIC provides an agree...

You owe taxes to the IRS and you're probably thinking, "What do I do now?" While paying a tax liability in full is the quickest way to get out of tax debt, that is not always a possible choice. This leaves payment settlements that are reached between the taxpayer and the IRS. But what if it's mor...

One of the more aggressive tax collection tactics the IRS employs is wage garnishment. This tactic is a continuous tax levy on wages, salaries, and other income from the accounts of delinquent taxpayers. While the IRS will not generally garnish all of your wages, levies can go anywhere up to 70 perc...

There may come a time when you, or your business, are unable to pay taxes owed to the Internal Revenue Service (IRS). When this happens, there are a number of ways for the IRS to respond. One of the most common IRS actions is a federal tax lien. An IRS tax lien is filed with local county governme...

You've been audited by the Internal Revenue Service (IRS) and it has been determined that you owe money to the government. A lot of money. So, you might be thinking that you're now on the debt hook forever. That, however, is not exactly the case. Though not widely shared by the IRS, each IRS audi...