Don’t Panic: Tax Resolution Firms Can Help with IRS Tax Debt


by Andrea Miller on December 11, 2019  0 Comment

Don’t Panic: Tax Resolution Firms Can Help with IRS Tax Debt
If you owe unpaid back taxes to the IRS, tax resolution firms can help you negotiate a settlement or a payment plan that makes your IRS tax debt more affordable. These firms are typically run by tax attorneys or certified public accountants (CPAs) who have the knowledge, experience, and authority to work with federal and state tax authorities on your behalf. Services Provided by IRS Tax Debt Resolution Firms Tax resolution firms work with individuals and businesses to resolve complicated tax issues. They provide a range of services which typically include: Negotiating penalty abatement, in which associated penalties are removed from your past-due tax balance. This is significant since these penalties can add as much as 25 percent to your ...

IRS Personal Taxes


by Anna Chumakova on December 05, 2018  0 Comment

IRS Personal Taxes
Owing taxes to the IRS is a serious matter that must be resolved as soon as possible to avoid unpleasant consequences and unnecessary stress. Once you've realized that you owe a hefty tax bill, you must be proactive about the situation, especially if you find yourself unable to pay in full right away. Whether you are short on money due to an emergency or some significant life event, you need to know what to do next and what mistakes to avoid. Costly Mistakes — What Not to Do Before we go into details about what to do if you owe taxes, let's look at some common mistakes taxpayers make. Not Filing Your Return Many taxpayers tend not to file a ...

Save Yourself From These Common IRS Penalties


by Jill Bridges on October 30, 2018  0 Comment

Save Yourself From These Common IRS Penalties
Every year, countless taxpayers find themselves penalized by the IRS for a problem with their tax returns. Failure to file and failure to pay are the two most common reasons for IRS penalties, and it's also possible to face combined penalties. There are several penalty-relief options available to taxpayers, including a first-time penalty abatement or an administrative and statutory waiver. Filing your taxes can be one of the most challenging processes that you do each year. Not only is it a tedious task, but there are many elements that can go wrong if you are not careful. Missing deadlines and making calculation errors is only the start of your problems. Failure to meet certain requirements can result in IRS penalties ...

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