IRS Currently Not Collectible Status: The Hardship Status
March 16, 2023 by Jill B.
IRS Currently Not Collectible Status: The Hardship Status Each year, almost 30 million taxpayers file a return and owe taxes. Most people pay the taxes when they file, but about 4 million to 5 million taxpayers are unable to pay. About 3 million of these people set up payment plans with the IRS. These payment…
Unpaid IRS Taxes: What You Should Know
March 2, 2023 by Jill B.
Unpaid IRS Taxes: What You Should Know If I can’t pay my income taxes, should I still file my return? The penalty for an unfiled return is much greater than the penalty for not paying. If you fail to file your return, the IRS charges a monthly penalty that equals 5% of your balance. The…
WHAT YOU NEED TO KNOW ABOUT THE OFFER IN COMPROMISE
February 7, 2023 by Jill B.
WHAT YOU NEED TO KNOW ABOUT THE OFFER IN COMPROMISE If you are experiencing tax debt, you are not alone. Tax debt is a common problem to have for both individuals and businesses. If you have no idea how you are going to pay it off, you are again not alone. You may be starting…