Why You Don’t Need a Tax Debt Relief Attorney for Short-Term Debt
Key Points Short-Term Window: Short-term tax debt is defined by the IRS as a balance you can pay off in full within 180 days. High Debt Threshold: Individuals and sole…
IRS Notice CP02
IRS Notice CP02 and Identity Theft: Everything You Need to Know
The sight of an IRS envelope demanding attention is stressful, but Notice CP02 holds a particular urgency. This notice is a critical administrative step that often signals one of two…
Offer in Compromise
From Pre-Qualified to Approved: 5 Essential Steps After Using the Offer in Compromise Tool
Key Takeaways Getting pre-qualified with the offer in compromise tool doesn’t mean automatic approval; it is just the first step. You’ll need to gather other documents, complete IRS forms, and…
bankruptcy vs offer in compromise
Bankruptcy vs. Offer in Compromise: Which is the Cheaper, Faster Way to Settle Tax Debt?
When your federal tax debt becomes too much to handle, you have two main options for relief: an Offer in Compromise (OIC) or bankruptcy. Both options can help, but they…
The 5 Strict Rules Your Tax Debt Must Meet to Be Cleared by Bankruptcy
The 5 Strict Rules Your Tax Debt Must Meet to Be Cleared by Bankruptcy
When facing tax debt, many U.S. taxpayers look to bankruptcy for a fresh start. But here is a big mistake people often make: treating tax debts the same as credit…
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…
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…
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…