The ultimate goal of tax planning, overall, is to end up owing as little in taxes as possible, by arranging your financial affairs, appropriately. This may be accomplished in three ways: by taking advantage of any (and all) applicable tax credits, increasing tax deductions, or reducing your overall income.
In general, the Internal Revenue Service (IRS) has 10 years to collect unpaid tax debt. After that, the debt is wiped clean from its books and the IRS writes it off. This is called the 10 Year Statute of Limitations. It is not in the financial interest of the
When individuals and businesses do not have the ability to pay a tax debt, the offer in compromise is the IRS’s mechanism for reaching a settlement. It’s not universally approved and there are a lot of requirements that go into obtaining approval if you submit one, but the process is
While taxes are something you deal with every year, they can still fall to the wayside. Either that, or events beyond your control can cause your tax bill to skyrocket out of your financial hands. Either way, you may need tax relief help from us here at Anthem. First, let’s
If the Internal Revenue Service has assessed a penalty against you for failure to comply with tax rules, you're not alone. In 2012, the IRS assessed a total of $26.8 billion dollars in penalties against 37.9 million taxpayers. Sometimes circumstances prevent you from meeting your obligations to the IRS
Have you or anyone you know ever received a phone call from one of these guys? If so, it can be quite scary and hard to trust who is who. Thankfully that is coming to an end. Over the last few years, we’ve warned about a lot of imposter scams.