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The Internal Revenue Service (IRS) is responsible for managing a wide range of tax-related functions and enforcement measures. As such, they have federal powers that allow them to enact a great degree of control over recuperative measures should they determine tax issues. Unfortunately, it’s not always clear to the average person what the IRS can do in […]
If you’ve recently had your IRS payment plan rejected, it is only natural to feel a little lost and worried. After all, nobody wants to fall out of favor with the Internal Revenue Service as it could lead to ongoing tax problems. This quick guide to rejected IRS payment plans and the next available steps will answer […]
laiming 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, if discovered by the IRS. A […]
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 action they may take and what […]