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The answer to this question is a resounding NO! Even if you owe back taxes when tax return filing is due, it is imperative to file the tax return anyway. Not filing a tax return will evoke far higher consequences than what occurs from being unable to pay the taxes current taxes owed because one…

Few people look forward to tax filing season. Unless you are an accountant who loves tax season, you probably dread this time of year, and you are thrilled when your return is in, your refund is on the way, or your tax debt is all paid off. When you sign your tax return and send…

When it comes to your money, there’s only one person with your best interests at heart – and that person is looking back at you in the mirror. Handling your finances and making decisions can give you peace of mind and help you avoid costly mistakes. There is a lot to be said for the…

Unpaid payroll taxes are serious to the IRS and are some of the worst kinds of back taxes you can owe. If you’re a small business owner with a payroll tax problem, read on to learn what you can do to avoid the IRS crippling your business or shutting your business completely. Already in payroll…

Even for honest taxpayers, the IRS can be extremely frightening. Unlike most other government agencies, the IRS has unbridled power to attach your wages, freeze your bank account and even confiscate your property, and that is enough to send a chill up the spine of any taxpayer. If you receive a letter from the IRS…

Choosing a Tax Resolution Professional (or Company) Isn’t Easy. Why? Because you’re bombarded with confusing claims, simply bad information, and near worthless solutions. How do you find a qualified, competent tax resolution specialist? How do you make sure you’re not getting ripped off? You may find this information useful to help make an informed, intelligent…

Myth #1: All tax professionals have basically the same training. The Truth: Not all tax professionals have the same training. A Tax Resolution Specialist, for example, undergoes rigorous comprehensive training and participates in annual continuing education courses specifically dealing with IRS problems. They have access to up-to-date material on an ongoing basis. Myth #2: All…

Because you’re bombarded with confusing claims, simply bad information, and near worthless solutions. How do you find a qualified, competent tax resolution specialist? How do you make sure you’re not getting ripped off? You may find this information useful to help make an informed, intelligent decision. RIP-OFF #1 Overpromising Results If someone guarantees to settle…

I sometimes hear from clients looking to settle their tax debts and have received incorrect advice regarding when and how to file an Offer In Compromise (OIC) from an IRS collection agent, their accountant, lawyer, or a friend, only to have their offer rejected. What should I seek from an individual advising me to file…

Until recently, the IRS would be the only one attempting to collect an outstanding tax balance owed. IRS has solicited Private Debt Collection Agencies (PDCs) to handle some taxpayer accounts. What are the differences between direct IRS collection efforts and that of a private debt collection agency? For starters, private debt collection agencies will make…