Tax Debt Relief Articles

  • man and wife looking at IRS bill

IRS False Deduction: What is the Penalty & How Much Will I Owe?

Claiming tax deductions is one of the methods used by businesses and individuals to reduce the taxes they owe. As a form of tax incentive, your tax deductions can include expenses and other income-related costs.  Making false deductions, whether deliberate or not, can lead to penalties such as fines, ...

  • man reading mail from IRS

What Are Your Options After Receiving An IRS Garnishment Letter?

Recent data suggests that Americans owed $114 billion in back taxes, interests, and penalties to the IRS in 2020. Due to the COVID-19 pandemic and the cost of living crisis, it is believed that this number has only grown. If you are in debt with the IRS, it’s essential to understand the ...

  • stressed out man after reading offer in compromise rejection letter

My Offer in Compromise Got Rejected, What Are My Options?

It is easy to panic if your offer in compromise to the IRS (International Revenue Service) is rejected. After all, you may worry about the precarious financial position this leaves you in moving forward, especially with the tax deadline looming overhead. However, it's important to remember that most applications get rejected. For example, ...

  • opening envelope with paycheck

How can I stop a garnishment on my paycheck?

There are several reasons that could cause a garnishment on your wages, including owing money to the IRS. Wage garnishment is obviously not the ideal scenario, as it means you don't have control over when and how much money comes out of your income. It means you never see ...

  • couple reviewing tax records

Can the IRS Summon Your Bank Records

The IRS can investigate any finances if they believe you are a taxpayer withholding assets. One tool they use to assess this would be a bank summons. This document requires your bank to send your account balances, bank statements, and other information directly to the IRS. Your summons will ...

  • elderly couple reviewing unpaid taxes and ssi income

Can The IRS Garnish My SSI Income For Unpaid Taxes?

We are an aging society, and as the rate of Baby Boomers retiring rises every year securing your Social Security Income (SSI) becomes even more important. Indeed, while around 50% of US citizens have additional investments and savings put away for their retirement the other half are relying solely ...

  • women reading notice from the IRS

Can the IRS take my house if I owe back taxes?

When you are going through tax issues, it’s natural to worry about whether you are going to lose your home. Your home is your biggest asset and it can be stressful to feel like you’re going to have to give it to the IRS.  The process of dealing with ...

  • irs

What Are IRS Soft Letters?

If you receive an IRS tax letter in the mail, don't panic! While an IRS letter is not something you want to ignore, receiving one doesn't mean you have to close your doors and start an IRS payment plan. An IRS soft letter is often designed to inform you ...

  • financial aid

How to Qualify for Financial Aid When You Owe Back Taxes to the IRS

With the rising cost of college tuition, many people seek financial aid assistance to make the cost of attending college more affordable. However, some individuals may find that their financial situations hinder them from receiving federal financial aid. One of the most common challenges people face when seeking federal financial ...