Tax Laws

Taxpayers who have tax debt want to reduce their tax liability and avoid IRS collection actions. Most taxpayers who are under tax debt want to resolve their tax debt, but they do not have the money to pay their entire tax debt. However, they do not necessarily need to pay back the entire IRS back…

Online retailers were eagerly waiting for May 6th because the U.S. Senate was likely to pass a proposed bill that would require online retailers to charge sales tax outside their physical borders. On Monday, the Senate passed the bill, making the bill that much closer to becoming law. Currently, online retailers only collect sales tax…

Up to this point, online users usually did not pay sales tax on purchases made online. That was because current U.S. tax laws do not require online retailers to charge sales tax from customers who were not located where they had a physical store. This will change if a bill regarding online tax sales passes…

Back tax relief is not complicated; it becomes complicated when taxpayers apply for the wrong debt payment plan, sometimes because of bad tax advice from professionals. Many taxpayers fall victim to the rosy dreams fraudulent tax services sell them to pocket high fees. Believing a tax service will get the IRS to reduce their tax…

The complexity of the tax code is felt during the tax filing season. Democrats and Republicans both agree that the U.S. tax code needs to be simplified. The resolve is present, but the pressing question is how? Both the parties share the common goal, but have different paths to reach it. House Republicans and Senate…

That is a question that does not have an answer, till now. There are thousands of nonprofit firms with a tax-exempt status that are making billions of dollars and not paying a penny to the state. With a gaping tax deficit and talks of increasing taxes, the government is losing millions in taxes, thanks to…

Nonprofits that enjoy tax-exemption are earning millions of dollars. That means that the country is losing millions of dollars in taxes. There are many companies that have tax-exempt status when they are not a charity, a school, a hospital, a religious organization etc. and are enjoying millions of dollars of tax-free earnings. When talks of…

When taxpayers get into tax debt, they need to be looking for ways to get out of it because the IRS can anytime begin collection action. The IRS first sends notices regarding unpaid taxes. If taxpayers ignore or refuse to pay their tax debt after receiving notices from the IRS regarding debt payment, the IRS…

Many times taxpayers avoid paying of back taxes due to one reason or the other. In such cases of unpaid taxes, the IRS sends notices to taxpayers under tax debt informing them about the amount of taxes that remain to be paid. After sending of notices if taxpayers neglect or avoid fulfilling their tax debt,…

If you are a new landlord and have put your property on rent, you will be required to pay additional taxes to the government. That is because the IRS considers the rent you are getting as income, and income from any source is taxable under the law. Even though you will be paying additional taxes…