The IRS installment agreement program provides a lifeline to taxpayers who owe back taxes and are unable to pay them all at once. If you set up a payment plan, the IRS will cease enforced collection activities while you pay your taxes in monthly installments over a period of time.
For many individuals struggling with overwhelming debt, bankruptcy can be an attractive option that allows the individual to start over with a “blank slate,” as it were. However, not all debts can be discharged through bankruptcy, and some are easier to discharge than others.
We all have a responsibility to pay our taxes each year. But what happens when the amount you owe has spiraled out of control?
Leading up to the passage of the Tax Cuts and Jobs Act, there was considerable discussion about repealing the estate and gift tax. That didn’t happen! But Congress did double the value of an estate that is excluded from being taxed,
If you’re a small business owner you may have experienced unpaid payroll tax problems at one time or another. Once you fall behind in making your payroll tax deposits it can be difficult to catch-up.
Some taxpayers who come to us seeking an IRS tax settlement also owe state income taxes. Each state has its own rules and regulations to resolve back taxes. For those taxpayers who have Georgia tax problems, you should know that Georgia has an Offer-in-Compromise (‘OIC”) Program that allows you to reach a tax settlement for an amount less than what you owe.
In April, the IRS began mailing letters to a small group of taxpayers whose past due tax accounts are being assigned to one of four private debt collection agencies. The program will expand to thousands of other taxpayers later in the spring and summer.
Are you in need of IRS tax relief services? Here are 10 of the most frequently asked questions by taxpayers seeking IRS tax debt help.
If you’re a business owner with highly appreciated business or investment real estate there is a tax planning strategy you should know about before you consider selling your property. It is a Section 1031 “like kind” exchange.
During 2016 you may have made substantial gifts to your children, grandchildren or other family members as part of your estate planning. Or maybe you just wanted to help those close to you with some financial support.