Federal Tax Lien: How to Solve the Problem

Tax lien

IRS Tax Liens What is a Tax Lien? A tax lien is a claim by the IRS that taxes are owed and they intend to collect these taxes.  It is legal claim by the IRS against your property.  The lien attaches to your property until the tax is paid. The purpose of a tax lien […]

IRS Appeals Process

Gavel and books

The IRS Appeals Process for collections began in 1998 with the IRS Restructuring and Reform Act.  As a result of this law, taxpayers were no longer at the mercy of the IRS.  The new rules prohibited the IRS from levying bank accounts and garnishing wages at will.  And a formal appeals process was instituted to […]

Expense Deduction for Teachers: $50 Increase

Teaching Moment

Educator Expenses:  A Bit of Good News The IRS increased the expense deduction for teachers by $50!  While this is not earth shattering, at least it is a step in the right direction.  We like to share good news whenever we can. The Basics of Teacher Tax Deductions Teachers and other educators may now deduct […]