What Happens if You Default on Your Offer in Compromise?
When you accept an OIC, you are agreeing to a set of terms laid out by the IRS, including the payment schedule and your obligation to remain compliant with tax … Read more
When you accept an OIC, you are agreeing to a set of terms laid out by the IRS, including the payment schedule and your obligation to remain compliant with tax … Read more
Getting an Offer in Compromise (OIC) accepted by the IRS is a huge relief for anyone struggling with tax debt, as it means the IRS has agreed to let you … Read more
Missing the IRS tax deadline can feel stressful, but you’re not alone, and more importantly: it’s not the end of the world. Every year, many taxpayers find themselves in the … Read more
If you had no income last year, you might be wondering: “Do I need to file a tax return?” Since there’s nothing to report, skipping tax season might seem like … Read more
Sometimes life gets busy and tax season sneaks up on you. If you need more time to prepare your federal tax return, the IRS offers a solution: IRS Form 4868, … Read more
Many taxpayers worry about whether the IRS can take all the money in their bank accounts if they owe back taxes. The short answer is YES, the IRS can seize … Read more
If you’ve received a Notice of Federal Tax Lien, you’re probably wondering how long it will last. A tax lien from the IRS can have a big impact on your … Read more
One of President Trump’s 2025 tax proposals is to eliminate taxes on overtime pay, aiming to provide relief to workers who take on extra hours. But how are overtime earnings … Read more
With the IRS expected to lay off thousands of employees, the 2025 tax season is shaping up to be a challenging one for both taxpayers and the agency. These workforce … Read more
The IRS is set to lay off thousands of employees as part of a broader federal workforce reduction, raising concerns about potential disruptions in tax return processing, audits, and customer … Read more
When faced with an IRS seizure, it’s important to remember that not all of your assets are fair game. While the IRS does have broad authority to collect tax debts, … Read more
Facing an IRS lien or levy can be stressful, especially when your property, wages, or bank accounts are at risk. A tax lien can make it difficult to sell your … Read more
For those struggling with overwhelming tax debt, filing for bankruptcy may be able to provide relief but it does not automatically erase all IRS obligations. While bankruptcy can halt collection … Read more
Yes, you can appeal an IRS levy. One of the IRS’s most powerful collection tools, a levy, allows the IRS to seize property, garnish wages, or withdraw funds from your … Read more
If you’re a self-employed individual with unfiled tax returns, you’re not alone. Many freelancers, contractors, and small business owners miss tax deadlines for various reasons. While the IRS takes tax … Read more
If you’ve ever owed the IRS a significant amount of money, you may have encountered the phrase “tax lien.” A tax lien is the federal government’s legal claim against your … Read more
One of the most pressing concerns when dealing with IRS tax debt is the risk of property seizure. A common question people ask is: Can the IRS seize jointly owned … Read more
One of the biggest concerns for taxpayers dealing with unpaid taxes and tax debt is whether the IRS can garnish their Social Security payments or disability benefits. By knowing the … Read more
If you’ve paid for child or dependent care to enable you to work or search for a job, you might be missing out on a valuable tax benefit that can … Read more
If you have been wondering what happens when the IRS puts a tax lien on your property, here’s one key fact: it does not show up on your credit report. … Read more
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