Are IRS Installment Tax Payments Deductible
Are IRS Installment Tax Payments Deductible? An installment agreement is one way to pay back taxes, interest, and penalties to the IRS over time if you cannot pay in one lump sum. Like a credit card payment, you are paying back the debt (plus any interest and penalties accrued) over
When Does The Irs File A Tax Lien?
The Internal Revenue Service (IRS) seeks to protect its interest when dealing with taxes against individuals or businesses in tax debt. It can do so by filing a tax lien called the Notice of Federal Tax Lien. This form of claim gives the IRS the legal right to seize your
How Can I Reduce My IRS Penalties and Interest?
Tax issues bring with them penalties and interest that can significantly increase the amount you owe. If you're dealing with a tax issue or have in the past, you're likely already aware of this. What you might not know is that sometimes it's possible to have penalties abated (removed
Is it Possible to Buy a House if I Owe Back Taxes?
Owing back taxes to the IRS can complicate your life in several ways. If you're looking to buy a house while you have a federal tax debt, you may have a more difficult time getting a mortgage. It's still possible, but you'll be seen as a riskier borrower. If
We Are Getting A Divorce & Owe Back Taxes, Who Is Responsible?
If you just received a notice from the IRS requesting payment for taxes that your spouse is primarily responsible for, at a point where you’re only concerned with getting on with your life, you may be asking: Whose responsibility is the IRS debt when a married couple divorces? Does
How to Handle Back Taxes & Taxes Owed While Unemployed
While most individuals filing taxes find themselves in the position of receiving a refund, that is not always the case for everyone. As it is, owing taxes may feel like a heavy burden on average taxpayers. The current COVID-19 pandemic has had a powerful impact on millions of Americans