I haven’t filed taxes for years, how far back do I have to file?

Tax season can be a stressful time for many, and it’s not uncommon for individuals and businesses to miss filing deadlines. But what happens if you’ve missed not just one, but several years of tax filings? This post delves into the world of back taxes, providing clarity on how far back you can go to […]

How to file on time and avoid late penalties

One of the most feared days in the US is April 15th! This is the deadline for most taxpayers to file their tax returns. If April 15th falls on a weekend the deadline will be the next business day.You can always file an extension for personal tax returns to extend your filing deadline until October […]

How Does The IRS Calculate Penalties And Interests?

1. Interest The interest rate was just raised to 8% for the 4th quarter of 2023 for all balances with the IRS so we start at 8%. You can check the following link for more information: 2. Failure to File Penalty Is assessed when a tax return is not filed timely. This penalty accrues at […]

Government Shutdown – How Will This Affect The IRS And My Tax Situation?

What is a Government shutdown? When Congress and the US President cannot agree on a budget all ‘non-essential’ parts of the US Government will stop operating until a budget or other legislation is. This link shows the official plans for dealing with a shutdown. How long do shutdowns last? The longest shutdown started in 2018 […]

IRS Debt Forgiveness

Are you feeling the weight of IRS tax debt crushing your financial well-being? You’re not alone. Dealing with tax debt can be an overwhelming and stressful experience, but there’s a glimmer of hope: IRS debt forgiveness. This blog post aims to shed light on the often misunderstood world of IRS debt forgiveness programs, providing you […]

What happens if I file my taxes late?

Filing your taxes late is usually not a good thing for a few reasons. IF you are going to owe taxes filing late or not filing can hurt you. Understanding the Tax Deadline The IRS will assess penalties and interest. The worst penalty when you file late is the “failure to file timely” penalty. To […]

What is a levy?

This sounds like a list of horrible things that can creep up on you in the middle of the night! In fact, all these things are ways the IRS, States and other collection agencies seize assets and property from taxpayers! What these words mean in real life depends on how each collection agency uses these […]

How to buy property tax liens?

Introduction What is a property tax liens? We don’t buy tax liens or advise people on that at all. What we do is advise people on how to remove Tax liens and how it is going to affect them. What is a Tax Lien and should I be worried? Most people find out about Tax […]

What are IRS levies on bank accounts?

Bank levies are legal orders to banks/financial Institutions to remit any funds in the accounts to the IRS/State tax agency that issued the levy. How did my accounts get levied? Tax agencies use a taxpayers ITIN (usually a Social Security Number or Employer Identification Number of a business) to go after accounts opened with that […]

Does bankruptcy clear debt?

Can filing for Bankruptcy wipe out my tax debt? Filing for Bankruptcy can be an excellent tool to address tax debts as well as other debts but it is very important to talk to a local Bankruptcy Attorney before making any final decisions. Laws vary by State and Bankruptcy District As Bankruptcy courts are Federal […]