Income Tax Refund Loans and Back Taxes!

If you file your taxes electronically and allow the government to deposit your refund directly into your checking account, the Internal Revenue Service promises to refund your money within 21 days. Before 2012, you could get the money sooner through a refund anticipation loan offered by most tax…


What are the Chances that your Income Tax Return will be Audited?

For the vast majority of taxpayers, there is not much need to worry that you will be audited. In 2016, only 0.6% of individual income tax returns were audited according to the IRS 2017 Data Book. Why? For starters, the IRS budget has been cut resulting in more than 2,200 fewer agents available to…


A Taxing Situation: Timely Tax Tips for Cryptocurrency Investors!

Until recently, cryptocurrency investors have mostly flown under the radar as far as taxes are concerned. Now those days are coming to an end, and many holders of virtual currency are scrambling to understand what they owe and how their investments may impact their finances. The IRS has already…


If You Don't Have Money to Pay Your Taxes, You Have Legitimate Options!

If you don't have money to pay what you owe the IRS, you have a few options to work with. Whatever you do, don’t ignore the letters from the IRS and don’t let your back tax problem go unattended. The IRS has a great deal of power when it comes to recovering money they think is theirs. When you owe…


Increase Self Employed!

The House says it is worried about the growing numbers of self-employed people because it creates opportunities for them to avoid taxes. If you’re self employed, it’s important to have solid accounting so you don’t get in tax trouble. https://buff.ly/2vukzKU


Unpaid Tax Debt Affecting Your Ability To Obtain Or Renew A Passport?

As many as 362,000 Americans with unpaid tax debts will not be able to apply for or renew passports until their debts are settled. The new law requires the Internal Revenue Service and the State Department to deny or revoke passports for people who have an overdue tax debt of $51,000 or more. If…


Taxable Income, But No Cash?

A variety of events can give you taxable income even though you’ve seen no cash. Here’s how it works when you have taxable income but no cash. https://buff.ly/2vrIXxz      


Achieve Tax Resolution with an Offer in Compromise!

An offer in compromise is the IRS’ tax resolution debt settlement program. It’s a program for taxpayers who owe the Internal Revenue Service more money than they can afford to pay. It’s the IRS’s version of a “fresh start” when it comes to tax debt. If approved, the IRS accepts a lesser amount…


Do You Owe Back Taxes? Why You Should Stop Panicking and Start Planning !

If you owe back taxes to the IRS, some amount of panic is understandable. After all, the Internal Revenue Service has the power of the federal government in its corner, something no other debt collector can claim. They are considered the most brutal collection agency on the planet. It is easy to…