If you, like MILLIONS of Americans over the last two years, lost your job and had to take unemployment benefits, you might be in for a nasty surprise. Even if you have gotten back on your feet and back to work, all those benefits – read that “income” – might be taxable by Uncle Sam.… Read More
Despite the IRS being slammed right now due to COVID-19, millions of Americans still owe money to the IRS in back taxes for previous years and they’ll increasingly find themselves unable to pay up all at once. In this article, we walk you through IRS installment agreements and what to do if you can’t afford… Read More
COVID-19 is affecting millions of Americans in all aspects of their life. As of the beginning of May, 1 million Americans tested positive for the disease. A much more striking number is the number of people whose finances have been shred to pieces with the prolonged shutdown and “stay-at-home” orders. In just the first 6… Read More
Taxes are a fact of life, but tax problems shouldn’t be. If you find yourself in tax trouble, the IRS has clear plans for how to proceed in collecting what they believe you owe. After sending you notices, the IRS can garnish your wages, levy your bank account, even put a lien on your property. … Read More
No one likes filing their taxes, but not filing them at all is never a good idea. The IRS is a powerful collection agency, and an unforgiving one. Getting on the bad side of the tax agency is not fun, and having years of unfiled returns is one of the worst moves you can make.… Read More
Owing money to the IRS can be frightening to say the least. It is easy to feel helpless in such a situation but you should not let fear and feelings of helplessness freeze you into inaction. Everyday you wait is one more day interest and penalties are accruing, and those charges could balloon your liabilities… Read More
Even for honest taxpayers, the IRS can be extremely frightening. Unlike most other government agencies, the IRS has the power to attach your wages, freeze your bank account and even confiscate your property, and that is enough to send a chill up the spine of any taxpayer. If you receive a letter from the IRS… Read More
Hearing from the IRS is bad enough, but being contacted by a scammer posing as the IRS is even worse, or at least just annoying and frightening. IRS scams are everywhere these days, and they take many different forms. Even sophisticated taxpayers have been fooled by these fakers, sometimes losing thousands of dollars in the… Read More
There have been a lot of stories about surprised taxpayers this year, and many of those surprises were decidedly unpleasant. Taxpayers who had received large refunds for years were shocked to find that they owed the IRS money this year, sometimes thousands of dollars in additional taxes due. Still others were shocked to find an… Read More
Three of the most frightening words in the English language are Internal Revenue Service. Few government agencies can strike fear into the heart of citizens like the IRS, and the tax agency enjoys powers most parts of the government simply do not have. Unlike those other government agencies, the IRS has the ability to garnish… Read More