People who owe tax must always file their returns on time or they risk severe penalties. However, you should complete and submit your return even if you don’t think you owe anything because you might receive a refund from the IRS. If you fail to file for a prolonged period of time, you could lose […]

Failing to pay your taxes brings serious consequences because the IRS has significant collection power. They can not only access your savings account but also your home, mode of transport, and even your wages. For this reason, it’s best to speak to tax consultants as soon as possible if you don’t have the means to […]

If you owe the IRS money and aren’t sure how you will pay your debt, you may worry about how this affects your future. The financial hardship you face could be made worse if your credit score lowers and you are no longer eligible for great interest rates on other products. But does tax debt […]

Taxes are a complicated issue, and it’s easy to get caught out. In fact, millions of Americans have tax debt or get audited every year, so you’re not alone if you are in trouble with the IRS. The key to resolving your situation is hiring the best tax advisors possible and working through your situation […]

Being in debt is always scary, but owing money to the IRS can be especially nerve-wracking because they have collection powers that go beyond those of most lenders. What’s more, it’s very hard to get your tax debt written off because the government believes that you should be able to pay what you owe, regardless […]

Unlike private lenders, the IRS has almost unlimited power to gain access to the money you owe them. Aside from seizing your assets and the money already in your bank account, they can also garnish your wages. This means that what your employer pays you will no longer come directly to you, but instead, the […]