10 Most Trustworthy Tax Attorney Reviews and When to Hire a Tax Lawyer


by Annie Beverly on December 12, 2019  0 Comment

10 Most Trustworthy Tax Attorney Reviews and When to Hire a Tax Lawyer
If you're struggling with tax matters like outstanding bills, IRS liens, or wage garnishments, it's easy to feel like you're drowning as the tax debt issues continue to pile up. However, it's important to remember that you aren't alone. Hundreds of thousands of taxpayers deal with serious federal and state tax debt issues every year, from overdue returns to tax levies on their property. Fortunately, there could be a straightforward solution to your problem. Tax attorneys have the knowledge and experience to assist with everything from appealing IRS audit decisions to negotiating tax settlements and navigating tax forgiveness programs. Not sure if a tax attorney is what you need? We'll walk you through the basics of what a tax lawyer ...

How the New York State’s Offer in Compromise Program Aids Taxpayers


by Annie Beverly on January 29, 2019  0 Comment

How the New York State’s Offer in Compromise Program Aids Taxpayers
Making an offer in compromise is an option if the amount of debt you owe in taxes to the state of New York is causing undue economic hardship. An offer in compromise allows you to pay an agreed-upon amount to the state, which is accepted as payment in full. Only certain individuals are eligible to take part in the program. Those who aren't eligible may qualify for a payment plan option.   The state of New York has a program in place designed to help its financially distressed residents who are unable to pay the full amount of their tax debt. This program is called the Offer in Compromise program, and it is handled through the Department of Taxation and ...

A Collector Calls: The IRS Will Now Use Private Debt Collectors


by Annie Beverly on January 10, 2019  0 Comment

A Collector Calls: The IRS Will Now Use Private Debt Collectors
The IRS now uses four private debt collection firms to cold call individuals with delinquent tax debts. The Taxpayer Advocate Service has condemned this method for encouraging private tax collectors to bend the law. Many scammers are pretending to be private debt collectors working on behalf of the IRS — but there are ways to spot them and not get caught out.   In 2015, Congress approved legislation which allows the IRS to use private debt collection agencies. Fast forward to 2019, and the IRS has hired four private debt collection firms to cold call individuals with delinquent tax debts. Even worse, some of these debt collection firms arrive at people's homes unannounced; a cause for concern to anyone in ...

How These 4 Changes to Tax Law Will Affect American Business Owners


by Annie Beverly on January 10, 2019  0 Comment

How These 4 Changes to Tax Law Will Affect American Business Owners
The Tax Cuts and Jobs Act of December 2017 has brought about the largest reduction in the corporate tax rate in American history. Business owners who make their income on pass-through entities can now claim 20% of it as tax-free. There are many other large tax breaks available for different business entities.  However, previous tax breaks, like those for entertainment expenses, business meals, cycle-to-work schemes, and business relocation, have been scrapped or reduced. There's been a lot a buzz in the financial community about the Tax Cuts and Jobs Act since it was first announced in December 2017, and that isn't dying down. The Act is the most comprehensive change of tax law in 30 years; the last time the ...

Am I Eligible for Tax Debt Relief?


by Annie Beverly on January 10, 2019  0 Comment

Am I Eligible for Tax Debt Relief?
It's estimated 21 percent of the American workforce is in tax debt; many are not yet aware of it. The IRS is often willing to compromise to help individuals pay off their tax debts when they can afford it, and no sooner.  If you think your tax debt is too large to ever be cleared, you may be able to reach an Offer in Compromise with the IRS and pay back less than what you owe. When you owe money to the IRS, it can feel like your tax debt problem will never go away — but that isn't the case. Like any creditor, the IRS is willing to reach a compromise to make sure they collect what you can ...

Struggling to Settle Your Tax Debt? Filing for Financial Hardship Offers a Solution


by Annie Beverly on January 10, 2019  0 Comment

Struggling to Settle Your Tax Debt? Filing for Financial Hardship Offers a Solution
30 million working Americans are currently not witholding enough each month to pay their taxes in full. The IRS offers many payment plans to help individuals pay off their tax debt in a comfortable and timely manner, depending on their circumstances. If paying off your tax debt will endanger your ability to live a normal life now, you may be able to file for Financial Hardship. If you are struggling with tax debt, you're not alone. An estimated 30 million Americans — 21% of the tax-paying workforce — aren't withholding enough each month to pay their taxes in full. Tax debt frequently starts as a small problem which then balloons in size, and slips out of your control. With an increase in ...

Everything You Need to Know If You Owe Taxes to New York State


by Annie Beverly on December 05, 2018  0 Comment

Everything You Need to Know If You Owe Taxes to New York State
Often those in tax debt owe money at both the state and federal levels. New York State uses conventional methods to recoup tax debt, like seizure and sale and income execution, but also more controversial ones — such as publishing the names of tax delinquents online. However, if you owe taxes to New York State's Department of Taxation and reach a payment agreement with them, there's no cause to fear their more punitive measures. If you live in New York State and you owe taxes to the Department of Taxation and Finance, it can be confusing to know how to resolve the problem of tax debt. Which is why we at Solvable are here to help: we're going to break ...

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