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Tax debt resolution does not always involve payment of the entire tax debt amount. Taxpayers that are going through financial hardship and cannot pay their entire tax bill can qualify for a payment plan that reduces their tax debt or postpones it until they are able to make payment. Tax Debt Resolution using Offer in…

There has long been talk about the need for an overhaul of the tax code. The House of Ways and Means has put forward a blueprint for the tax reform, but it is just the beginning of the changes in the tax code. This initial blueprint begins the process of making proposals, debating, reviewing and…

The resolution process to resolve tax debt varies according to the amount of tax debt, its duration and the debtor’s ability to pay the debt. Most taxpayers under heavy IRS debt choose to pay their tax debt in monthly installments. Even if taxpayers under debt have the financial ability to pay the tax debt in…

Identity theft has again topped the IRS Dirty Dozen Tax Scams list for 2014. For the third consecutive year, identity theft has been found to be the most widespread tax scam in the country. The tax season is ongoing and there have been reports that the IRS is struggling to combat identity theft. There are…

Taxpayers that cannot afford to pay their entire tax debt often believe that they cannot resolve their debt without making full payment. This leads them to wait to pay the taxes owed, which increases the tax debt amount that they need to pay because of the interest and penalties imposed the IRS. Taxpayers that do…

Tax preparer fraud has been widespread and made it to the IRS Dirty Dozen Tax Scams last year. Even though most tax preparers are honest professionals, there are an unscrupulous few that defraud the IRS and their clients to pocket refund money. It is important to know the extent of the problem so that we…

Taxpayers who cannot afford to pay back taxes often ignore the debt due to their inability to pay. Often, they simply stop filing tax returns. Even though this approach might seem to be the most convenient at the moment, it causes even larger tax debt and exposes them to the threat of IRS collection actions….

Unlike other misconceptions, myths about taxes can affect your finances. The tax code is more than four million words long and has grown increasingly complex over the years as additions and amendments have been made to it. Some of the top myths that most taxpayers believe to be true are about tax obligations and audits….

Approximately 25% of taxpayers that file taxes each year owe back taxes to the IRS. Before filing taxes, it is essential that taxpayers make efforts to resolve their tax debt using professional tax help. It is important to resolve tax debt and get current with taxes because of the threat of IRS collection actions, as…

Foreign citizens with dual U.S. citizenship have to deal with complex tax problems every tax season. Most of the time, taxes are based on where a person is living and where they work. Millions of Canadians have dual U.S. citizenship and millions of Americans live overseas. If you are an American citizen living overseas, you…