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There are many tax debt relief companies out there that claim they can help you take control of your debt to the IRS or the state and make it easier to manage. Most of these companies offer promises, but only a fraction can deliver real results.
In your search, you may have come across the Tax Defense Network. This company offers a few services, including tax preparation, tax relief solutions, and audit representation. But you may be asking yourself the next logical question: Is Tax Defense Network a scam? People are using this company to help them with their tax debt — should you? There are many tax debt relief scams that pose as legitimate companies. It's important you find out which ...
It was the “American Dream” for past generations: Your own home on a nice piece of property with a white picket fence, 2.5 children, and perhaps a family dog or cat.
While 82% of millennials today view homeownership as the “American Dream,” according to a recent study by Clever Real Estate, they waited longer than past generations to finance that dream. The average age of first-time homebuyers is 32, compared to 29 and 30 years old in the late ‘70s and early ‘80s.
Owning a home has always been expensive, but it also comes with several tax benefits. While some of the tax laws related to home ownership have changed, owning a home still provides some tax relief over renting.
Falling behind on your business taxes can result in the IRS taking steps against your business to recoup the money you owe.
The IRS has to follow the rules and protocols in place that can protect your business from being shut down outright.
Working with the IRS to solve your business tax debt is in your company's best interests in preventing the forfeiture of your business assets or having to shutter your business.
As a business owner, you've put significant resources into your business with long hours and personal sacrifices. The question of whether the IRS can shut down your business can be one that may make you worry that all you've worked for could come to an end. Some circumstances ...
An IRS tax lien notice can be removed from your credit report before the full seven years has elapsed.
Your IRS tax lien notice is eligible for removal if there was a mistake on the paperwork, you are working on your payments, or you can prove that having it removed will make it easier for you to pay them the money back.
There is a set process in place that you can follow to have your tax lien notice removed from your credit report.
When you finally pay off an outstanding debt, that debt should be removed from your credit report, right? You made the payment, and it's no longer something you owe, but the negative debt remains on ...
Not all of the services available to people with tax debt are created equal as some companies are only interested in the check you write them.
When researching tax debt relief services look for red flags that a company may be looking to scam you out of your money.
A real tax debt relief service will offer an honest assessment and documentation on helping you with your tax situation.
Imagine the realization that a mistake occurred on your taxes, and you owe the IRS money. You go through your options and turn to a tax debt relief service. Then, you later find out that the company you thought was going to help you turn your tax debt around is an ...
While you can represent yourself in Tax Court, it can be beneficial to use a Tax Court representative in this process.
An attorney or other tax professional can represent you if they have been admitted to practice with the Tax Court.
Your experience with Tax Court often starts by filing a petition to negotiate with the IRS regarding your tax debt.
Few situations are as worrisome as dealing with Tax Court. The rules and regulations that make up our tax code are complex, and representing yourself in Tax Court can be difficult to do on your own. The good news is that while you're able to handle your case yourself, you have the option to hire a tax attorney to ...
Tax debt is considered part of your marital assets and liabilities during a divorce.
The state you live in will determine how your marital assets and debts are split among the two parties going through the divorce.
You may have to file this current year's taxes with your future ex if your divorce isn't finalized before the year is up.
The end of a marriage can be a sensitive situation to handle. When a couple separates, they have decisions that have to be made, such as custody of children. The property gathered over the time of the marriage has to be divided between the spouses. All of the debt that a couple has together is also required to be divided ...
Most individuals that file taxes consider how they can go about not owing anything and getting a larger refund. With a little planning, it's possible. It's all about being proactive about your finances and tax debt. These may seem like little tricks, but they can make a huge difference when it comes time to pay your tax debt. Who wouldn't want a larger refund check from the federal government? The good news is that anyone can implement these changes. They don't require a large salary or a big checking account balance.
Change Your Withholding Amount
One of the easiest things you can do to reduce the amount of tax you owe is to change the amount you withhold from your ...
Filing your tax return to the IRS can be an absurdly arcane process depending on who you are. Business owners, people with foreign assets, and even charity contributors all seem to have extra hoops to jump through to satisfy the IRS. It is not surprising that people make audit mistakes under those circumstances. In some cases, these mistakes can result in you understating your income, which is the best way to get on the IRS's bad books. With that said, what is the statute of limitation for an IRS audit?
You have been notified that the IRS suspects that your banking activities are not entirely on the up and up. Given that the issue is only a minor ...
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Potential savings may vary based on the interest rates, balances and remaining repayment term of the loans you are seeking to refinance. Your overall repayment amount may be higher than the loans you are refinancing even if your monthly payments are lower. Variable rate options will fluctuate over the term of your loan with changes in the LIBOR (or other index utilized by the lender) rate, and will vary based on applicable terms and presence of a cosigner. Fixed interest rates may be based on applicable terms and presence of a co-signer. Additional terms and conditions, and rates are subject to change at any time without notice and may not be available in all states or for all types of current student loans. Such changes should only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Lenders are required to provide every potential borrower with disclosure information before they apply for a private student loan. The Lender you select is required to provide you with an Application Disclosure and an Approval Disclosure within the application process before you accept the terms and conditions of your loan. solvable is not a lender or creditor, it does not offer, extend or alter credit terms. Only participating lenders can perform the full application and deliver the required disclosures, please ask your lender about rates, terms, fees, and potential discounts that may be available for each product.
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Consolidation/refinance may lead to other negative results, such as loss of grace periods.
Loans in default generally cannot be consolidated until completion of a repayment trial plan so tell your lender if you are in default and determine relevant options (be wary of those asking for upfront fees as well)
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