How Does the 1099-C Cancellation of Debt Form Impact Your Taxes?
The IRS considers any forgiven debt as a source of income, of which you have to pay taxes on? ...
Can You Have Two Installment Agreements With the IRS?
When you cannot pay the taxes you owe, you can establish an IRS installment agreement. This allows you to ...
Basics of Tax Planning: Avoid Paying More Than You Owe
The ultimate goal of tax planning, overall, is to end up owing as little in taxes as possible, by ...
Does the IRS forgive tax debt after 10 years?
In general, the Internal Revenue Service (IRS) has 10 years to collect unpaid tax debt. After that, the debt ...
How Does an Offer in Compromise Work?
When individuals and businesses do not have the ability to pay a tax debt, the offer in compromise is ...
How Penalty Abatement Works
If the Internal Revenue Service has assessed a penalty against you for failure to comply with tax rules, you're ...