Scams & Alerts

If you owed taxes and you did not file your tax return because you could not pay any amount of your tax bill, then you can resolve your back taxes through an IRS payment plan called Currently Not Collectible. Under this agreement, the IRS stops all collection actions and waits for the payment of tax…

Tax scams have been around for long, but scammers continue to change their methods of deceit, as taxpayers become familiar with their methods of operating. In spite of the best efforts of the IRS and the law enforcement agencies, the threat of tax scams is real for taxpayers, not only during the tax season, but…

Tax debt is a burden that only increases with time. And the pace at which it increases depends upon various factors, including the amount of tax debt you owe. To keep your tax debt from increasing, you can use various methods apart from considering paying the tax debt in full. Often, taxpayers postpone payment of…

The IRS has begun aggressively pursuing tax evasion using Foreign Account Tax Compliance Act (FATCA). Due to the strict compliance requirements of FATCA, many U.S. citizens living overseas have chosen to renounce their U.S. citizenship. Now, there are indications that the IRS may relax some of its tax rules for Americans living overseas to make…

Tax debt is a burden that increases with time. This is because the IRS charges monthly penalties and interest on the original amount of unpaid taxes. Therefore, early relief from tax debt provides advantages without even qualifying for tax debt reduction or reduction/elimination of penalties. IRS payment plans are designed to allow comfortable payment of…

Is it fair for companies to minimize their tax liability by using loopholes in the tax code in spite of the fact that they pay the highest tax rate in the world? That is the question that has led to the great debate about how much taxes large multinationals are evading using loopholes in the…

If you have the ability to pay your tax debt, then you must explore methods that will allow you to pay your debt most comfortably. If you can pay your tax debt in full in a single payment, you will save on IRS penalties and interest charged on unpaid taxes. If you believe that paying…

We estimate how much tax we will need to pay in retirement so that we can plan better for our future, but predicting the tax rate prior to retirement is difficult. It will be higher, but will all of your retirement income be impacted by it? How the increased taxes will impact the tax brackets…

Many times, when taxpayers first receive information about being in tax debt, they believe it difficult if not impossible to resolve. Moreover, communicating with the IRS to resolve back taxes seems like a tough task, especially if you are looking for tax debt reduction or a postponement in paying. If you learn about your tax…

Underpayment of taxes leads you to a tax debt, and overpayment of taxes gets you a refund. That is the reason why many taxpayers overpay in order to avoid underpaying. This is especially true for businesses that withhold and pay taxes on behalf of their employees, and those who pay estimated taxes. If you are…