Tax Compliant Requirement
The IRS is no ordinary creditor. They aren’t like a credit card community who might be willing to settle your debt at a discount. The IRS is also very aggressive when it comes time to collect on the...
View ArticleTax Relief for Natural Disasters
Although the IRS is traditionally portrayed as a heartless entity, there are some occasion when the IRS does grant tax relief to those affected by a natural disaster or state of emergency. They call...
View ArticleStatute of Limitation for Tax Audits
One of the things that create a considerable amount of stress on people who owe back taxes with the IRS is how far can they audit you. Because once you owe the IRS money, you start to stress and...
View ArticleWhat is considered income?
The starting point of any analysis of how much you are going to pay in terms of taxes is how much money did you make during any calendar year. Internal Revenue Code Section 61, states, “Except as...
View ArticleAlternative Minimum Tax
The Alternative Minimum Tax is designed for individuals who make at least $100,000 a year. The tax laws were design to ensure that everyone pays some form of taxes. The tax code requires that you...
View ArticleFacts about IRS bank levy
An IRS bank levy is the most effective tool the IRS has to recover back taxes that they deemed is owed to them. Through a bank levy they can freeze your assets and then take those assets without your...
View ArticleCharitable deductions
Many people make the mistake thinking that all their donations to any worthy cause is completely tax deductible. This is not the case and can result in getting in trouble with the IRS. First, in order...
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