IRS Hardship Program: Currently Not Collectible
We regularly meet with clients of our accounting firm who owe taxes to the IRS that they cannot afford to pay due to a financial hardship. Sometimes it is a tax bill for one year. Frequently it is a tax bill for multiple years. The IRS offers a number of solutions that provide tax relief […]
Statistics on Federal Tax Liens in Alpharetta, GA
This is the first in our series of reports analyzing federal tax liens on Georgia businesses. Along with tax levies and garnishments, federal tax liens are one of the most powerful weapons available to the IRS in its efforts to collect back taxes. As of 2022 there were more than 15 million taxpayers nationwide in […]
Guide to IRS Payment Plans or Installment Agreements
The Basics of IRS Payment Plans or Installment Agreements IRS installment agreements, also called IRS payment plans, are offered to taxpayers looking for a way to pay their tax to the government in monthly amounts. Installment agreements are among the most popular programs requested by clients at our Atlanta CPA firm. There are several variations […]
Federal Tax Lien: How to Solve the Problem
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 […]
Tax Debts: Post-Covid Update
In response to the economic fallout from COVID-19, the IRS suspended attempts to collect back taxes through liens, levies, seizures and other methods. We have learned that the IRS is now restarting the collection of back taxes. There are already more than 25 million taxpayers in America that are in trouble with the IRS, and […]
IRS Tax Relief in 2021
IRS Payment Plans, Tax Liens, Tax Transcripts and More: Navigating the Tax Relief Maze. IRS tax relief includes more than just resolving back taxes. It includes filing missing returns, reconstructing accounting records, interpreting the statute of limitations, analyzing arcane IRS transcripts and the pain and embarrassment of dealing with the IRS. Which way should you […]