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15 Tax Debt Facts You Didn’t Know

To many, tax debt is a bit of an enigma. Unless you’ve spent hours upon hours studying the federal tax code, it’s unlikely you’ll find yourself comfortable and confident when hit with a tax bill...

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latest posts

Tax Delinquency Lists Haunt Those with Tax Debt
If you’re thinking that not paying your state or federal back taxes won’t come back to haunt you later, you’re wrong. Tax delinquency lists are a real thing. The pain comes in multiple forms: financial, legal, and, now, reputational...
What’s the Effect of a Tax Lien?
Buying and owning your home can be a dream. It can be used to raise a family, or can be used to rent out the rooms and live of the rental payments. But a big enough tax debt can lead to your home being targeted by the IRS through an IRS tax lien. How...
How to Pay Tax Debt Over Time
If you have tax debt, getting it paid off is your first priority. Paying it off is important no matter how it’s done. Whether it’s in a one-time lump sum payment, or with a payment plan involving multiple payments, back tax debt should be...
IRS Eases Rules for Reporting Hidden Overseas Cash
Making money overseas can be exciting. Whether you have family or business assets located abroad, making goods or providing services overseas can lead to big profits here at home. But after the IRS started to crack down on overseas tax dodgers in 200...
IRS Tax Debt Statute of Limitations Exceptions
Where there’s a rule, there’s an exception. And that even applies to the IRS when it comes to collecting back tax debt. That even includes the tax debt statute of limitations. There’s always exceptions to the rule, even with tax deb...
Choosing to Ignore Tax Debt? Choose Again.
If you’ve made the decision to ignore tax debt, then your future has some costly and potentially embarrassing measures in store for you.  Tax debt is created by unsuccessful risky tax moves, or lack of intent to pay it. However it’s made...
How Taxes Hinder Your Financial Future
Having unpaid tax debt is the first step the walk towards financial ruin. Tax debt does nothing to improve your financial situation, and gives the IRS all the ammo it needs to pry open your business’s books and get its hands where they don̵...
When Should I Hire A Tax Attorney?
If you’re getting in hot water with the IRS due to back tax debt, you may be able to swim on your own for a while. But the time may come when you’ll need a tax attorney by your side. But when is it necessary for you to hire one?  It may ...
Tax Debt Through the Roof? Try Reducing Penalties
If you’re caught in back tax debt to the IRS, your financial situation is – to say the least – a difficult one.  And it can get worse with the IRS tacking penalties and interest onto the original debt.  That’s why knowing how to req...
Thinking of Representing Yourself in Tax Court?
When you’re dealing with the IRS, you’re in store for a wild ride. Representing yourself in tax court when dealing with the IRS in its efforts to collect your back tax debt is an idea that deserves many second thoughts. The Cons of Repres...
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