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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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An IRS Agent Is At Your Door. Now What?
It’s your worst nightmare. There’s a knock on your door, you answer, and it’s an IRS revenue officer standing at your doorstep asking for a moment of your time. Getting audited is no laughing matter. If the IRS really wants, it can ...
Five Mistakes to Avoid When Filing Your Tax Returns
Each year gives us the responsibility of filing our taxes and either getting a refund, or paying up. But while filing our taxes gets easier and easier every year with the help of technology and the internet, there’s some mistakes that we’...
Knowing the IRS Audit Process is Key
Going through the IRS audit process is no day at the park. You’ll have to dig up old records, make your case to an IRS agent, and afterward, it could be for nothing if the IRS decides to stick you with a bill for back tax debt.  In this case, ...
The Well-Traveled Roads Leading to IRS Debt
Finding yourself in tax debt with the IRS is no laughing matter. That’s why it’s important to avoid all roads and bridges that lead to IRS debt. Americans get into debt with the IRS for all sorts of reasons. Some don’t have the time...
Don’t Let Back Tax Debt Lower Your Credit Score
One of the most important assets consumers have is their credit score.  Our economy runs on credit. If you’re a business owner or investor, you know firsthand how important credit is. It can help you access loans and cash from financial instit...
Should You Discharge Tax Debt through Bankruptcy?
Some people who end up in tax debt may try some creative ideas to make it go away. One of those ideas may be filing for bankruptcy. Bankruptcy typically provides a fresh start free of the piled up debt. While your credit may take a hit for a while, t...
How to Get Out of Tax Debt for Good
Getting into debt with the IRS is certainly no laughing matter. With the IRS on your trail, your financial future can be unpredictable – and scary. You need to understand how to get out of tax debt for good. The IRS has all the time in the world wh...
5 Reasons You Need To Pay Your IRS Back Tax Debt
If you find yourself in debt to the IRS because of back taxes, you might debate what to do and whether you should even pay it. Depending on your financial situation, the decision may be easier said than done. The time will eventually come when you...
Disclosing Foreign Assets: When and What to Report
Nowadays, you can perform international business with the click of a mouse. You can make money investing in a factory or in businesses overseas, sure. But you must disclose your profits and assets to the IRS. If you’re disclosing foreign assets...
IRS Appeals an Option for Tax Disputes
Experiencing an IRS audit is bad enough. But what if the outcome is so one-sided that you just can’t accept it without putting up a fight? That’s where an appeal comes in. The IRS has an appeals branch that gives taxpayers an opportunity ...
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