Audit Flag Alert: How Filing Bankruptcy Can Lead to More Scrutiny from the IRS
Filing for bankruptcy is one way to get a fresh start with your finances. When you file, the court issues an "automatic stay." This is a legal order that immediately…
How to check if a property owes back taxes
How to Find Out If a Property Owes Back Taxes
For anyone considering purchasing real estate, especially property at a deeply discounted price, the old real estate adage applies: buyer beware. When a property changes hands, certain financial obligations tied…
Does an Offer in Compromise Hurt Your Credit
Does an Offer in Compromise Hurt Your Credit?
An Offer in Compromise (OIC) can feel like a lifeline for many U.S. taxpayers facing tax debts. It provides real financial relief by letting you settle your tax debt for…
Can I Have Two Payment Plans With the IRS? The Definitive Answer for Taxpayers
When facing tax debt, arranging an Installment Agreement (IA) with the Internal Revenue Service (IRS) is often the first major step toward financial resolution. However, what happens when new tax…
Audit penalty vs tax fraud
Audit Penalty vs. Tax Fraud: Where Is the Legal Line?
Getting an IRS notice or letter often means you’ll face both civil and possibly criminal penalties. The most important factor the IRS looks at is willfulness, whether you made an…
Penalty Abatement
How to Get Rid of IRS Penalties: Penalty Abatement 101
IRS penalties are administrative tools designed to encourage taxpayers to file accurately, file on time, and pay what they owe. But what happens when you miss a deadline due to…
Form 12153
How to Use Form 12153 to Request a CDP Hearing and Stop an IRS Levy
Key Takeaways Filing Form 12153 within 30 days of receiving an IRS levy or lien notice immediately pauses collection activity. This form requests a Collection Due Process (CDP) hearing, where…
IRS Levy Letter
Received an IRS Levy Letter? Protect Your Bank Accounts With These 3 Steps
Key Takeaways An IRS levy letter means the IRS intends to seize money from your bank accounts, wages, or other property to collect back taxes. You still have time to…
Tax Debt Resolution
How to Choose a Legitimate Tax Resolution Expert for Tax Debt Relief
Key Takeaways The Big 3: Only three credentials (the Enrolled Agent (EA), Certified Public Accountant (CPA), and Tax Attorney) have unlimited representation rights before the IRS. Mandatory Oversight: These…