Advice

There are various IRS tax debt payment plans taxpayers can use to achieve a successful tax debt resolution. Although some payment plans involve the full payment of tax debt, there are IRS plans that allow taxpayers to pay a partial amount or postpone the payment of tax debt. Taxpayers need to calculate their financial strength,…

IRS debt can become a pain in the neck if it is not resolved early. The IRS can use aggressive collection actions such as a tax lien and levy to collect back taxes. It usually happens when taxpayers avoid paying their tax debt, even after constant reminders by the IRS. It is important for taxpayers…

When resolving back taxes, taxpayers often wait until after the IRS sends them a notice regarding the tax debt or moves to aggressive collection actions such as tax lien or tax levy. It is important for taxpayers to know that if they pay their back taxes late, they will end up paying more overall because…

There are many ways to pay back tax debt, but taxpayers need to choose a method that will provide them with most advantages. Choosing a payment plan depends largely on the amount of tax debt and the financial capability of taxpayers. Those taxpayers who have smaller tax debt should pay off the entire amount in…

Taxpayers can check their eligibility for a penalty abatement if they haven’t filed, or paid their taxes on time or in full. The IRS charges penalties and interest on any tax amount paid after the tax filing deadline. To get penalties reduced or forgiven, taxpayers need to provide a ‘reasonable cause’ for the delay in…

The tax filing deadline is around the corner, so taxpayers who are looking to pay their taxes before midnight April 15th should electronically pay their taxes. Taxpayers who cannot pay their taxes before the deadline and owe the IRS will need to either pay the full debt amount in a lump sum, or apply and…

The April 15th deadline for filing taxes is just four days away! The best option for taxpayers who have yet to file their return is to e-file their returns because it is easy and more importantly it is fast. As many as 100 million taxpayers e-file their tax returns. Using the IRS’ Free File service,…

Taxpayers often get into tax debt due to not filing taxes on time. Missing the filing deadline can lead to trouble for taxpayers because the IRS punishes any non-compliance, be it intentional or not, with penalties. In the case of IRS debt, taxpayers must avoid IRS collection actions, such as a tax levy. Taxes cannot…

Offer in Compromise, popularly known as ‘pennies on the dollar’ tops the charts of the most abused IRS tax debt payment plans. It is the attractiveness of the plan that has made it popular among tax services and taxpayers. Anybody who has back taxes to pay would like to get their tax debt reduced, and…

There are various ways to get out of tax debt, but there is only one that is most suited to you. Best resolution of back taxes depends on a number of factors including the financial situation of the taxpayer, the amount of tax debt and the length for which it has remained unpaid. Most taxpayers…