Best Strategies to Handle an IRS Bank Levy Effectively
An IRS bank levy is a serious action the IRS can take to collect unpaid taxes by freezing and seizing funds from your bank account. If you’re facing a bank levy, understanding the process and knowing your options is crucial to protecting your finances. This article will guide you through what an IRS bank levy […]
IRS Fresh Start Tax Program: How to Achieve Tax Debt Relief
Are you overwhelmed by tax debt? The IRS Fresh Start Tax Program offers relief options tailored to your needs. This article explains how you can reduce your tax liabilities and outlines the steps to apply. Discover if this program could help you achieve much-needed financial relief. Key Takeaways The IRS Fresh Start Tax Program offers […]
IRS Certified Mail: How to Handle Important Tax Notices Effectively
When you receive IRS certified mail, it means the IRS is informing you about important tax issues. This article covers why you might receive such mail and the necessary steps to take right away. Key Takeaways IRS certified mail ensures important tax notices are officially delivered, allowing taxpayers to respond appropriately. Timely and accurate responses […]
What to Do If I Haven’t Filed My Taxes in 3 Years
Haven’t filed my taxes in 3 years? It’s essential to take action quickly to avoid severe penalties and legal issues. This article will guide you through the immediate steps to get back on track, the consequences of not filing, and the options available to manage your tax debt. Additionally, filing your taxes is crucial to […]
What If an Estate Cannot Pay Taxes? Guide to Handling Tax Debts After Death
What if an estate cannot pay taxes? When an estate lacks funds to cover taxes, the executor must manage the debts and work with the IRS. If a deceased person owes taxes, it is crucial for the estate to settle any outstanding tax obligations to prevent financial burdens on loved ones. Beneficiaries might face delays […]
Effective Tax Lien Help: Top Strategies to Resolve IRS Tax Liens
Need tax lien help? You’re not alone. This article explains what an IRS tax lien is and outlines practical steps to resolve it. Whether it’s paying in full, setting up an installment plan, or negotiating a settlement, we’ll guide you through the process. Key Takeaways An IRS tax lien is a legal claim against your […]
Top Benefits of Professional Tax Audit Representation
A tax audit can be challenging. Tax audit representation involves professionals guiding you through the audit, protecting your rights, and reducing financial risks. This article covers the benefits of having expert support during an IRS audit. Key Takeaways Professional tax audit representation helps navigate the IRS audit process, ensuring compliance and protecting taxpayer rights. Common […]
Top Tips for Handling an IRS Notice of Deficiency
An IRS Notice of Deficiency informs you that you owe additional taxes due to discrepancies in your tax return. This document, also known as a ‘90-day letter,’ gives you 90 days to respond. In this article, we’ll explain what a Notice of Deficiency is, why you might receive one, and the steps you should take […]
IRS Notice CP2000: What is It?
What is IRS CP2000? IRS Notice CP2000 is one of the most common IRS letters that we see in our CPA practice. The IRS mails these notices to taxpayers when information from a third party source (such as a 1099 or W-2) does not match the information the taxpayer reported on their income tax return. […]
Who Can Take Your Tax Refund and How to Protect It
Worried about who can take your federal tax refund? Federal and state agencies, as well as private creditors, may have the authority to seize it. This article will explain which entities can take your refund and how you can safeguard it. Key Takeaways Federal and state agencies can seize tax refunds to recover outstanding debts, […]