irs debt: Tax Compliance – The Key to Resolving Tax Debt
- 01/01/19 07:55 PM
If you are looking for a resolution to your tax debt with IRS, the first step is compliance. This is because eligibility for IRS Fresh Start programs require current compliance. This does NOT mean that you must pay off all your tax debts. Compliance simply means that 1) you have filed all your required tax returns; and 2) you are current in paying THIS years’ tax payments. Filing Past Returns Filing at least the last 6 years of tax returns, no matter how many years are unfiled, will gain your compliance with IRS. If you have missing records, we can help you re-acquire … (1 comments)
irs debt: What Do These IRS Collection Notices Mean?
- 01/01/19 03:30 PM
IRS Letters saying that you owe back taxes or have unpaid tax debt are scary. I get calls from concerned clients regularly who want to know what they mean. If you file a tax return and do not pay the tax due on that return, you will get a series of notices asking you to pay up. The notices start out as informational notifications but quickly escalate to threats of collection actions like wage garnishments, bank account levies and federal tax liens.
View the video version of this blog post on YouTube at: https://www.youtube.com/watch?v=tYEfdMaV3Sk&t=56s
The collection notices you can expect to receive are listed … (2 comments)
irs debt: Tax Tips for the Self-Employed: A Freelancer's Guide to Paying Taxes
- 12/31/18 11:51 AM
If you are an employee, you get a paycheck every pay period and most likely pay little attention to your taxes until the end of the year. Your employer does a lot of the work for you and you get a W2 at the end of the year. However, if you are a freelancer or are self-employed, the responsibility of paying your taxes rests solely upon your shoulders.
There are 14+ million American taxpayers currently in the IRS collection division, and it’s easier to land there if you’re self-employed and don’t fully know what to do when it comes to taxes. … (0 comments)
irs debt: A Taxing Situation: Timely Tax Tips for Cryptocurrency Investors
- 12/31/18 11:38 AM
Until recently, cryptocurrency investors have mostly flown under the radar as far as taxes are concerned. Now those days are coming to an end, and many holders of virtual currency are scrambling to understand what they owe and how their investments may impact their finances.
The IRS has already requested the identities of those who hold substantial amounts of cryptocurrency, and it is only a matter of time until the tax agency broadens its scope. Just as with overseas bank accounts, the days of free riding in the cryptocurrency market are quickly coming to an end.
If you're in New Orleans, LA give us a call at 800-433-0986 or email info@taxcrisisrescue.com
Visit our website at www.taxcrisisrescue.com … (0 comments)
irs debt: What are the Chances that your Income Tax Return will be Audited?
- 12/31/18 08:12 AM
For the vast majority of taxpayers, there is not much need to worry that you will be audited. In 2016, only 0.6% of individual income tax returns were audited according to the IRS 2017 Data Book. Why? For starters, the IRS budget has been cut resulting in more than 2,200 fewer agents available to audit returns. However, the “real” audit rate is closer to 7.o% as the IRS does not include the over 9.2 million notices that are questioning items on your client’s tax returns such as forgetting to include a 1099-Misc form. The IRS is relying more and more on technology … (2 comments)
irs debt: Owe Back Taxes? 3 Real Reasons You Need A Tax Resolution Professional
- 12/31/18 07:50 AM
Owing money to the IRS or State can be daunting, intimidating and throw your life out of whack. You might be tempted to just hide your head under a pillow, but ignoring your back taxes will only make the situation worse. Penalties and interest alone can bury you deeper so it’s important to take immediate action.
But where do you start? How do you go about tackling the behemoth that is the IRS and start getting your life back? A qualified Tax Resolution firm can help. Here are 3 real reasons to at least have a conversation with our tax firm. … (0 comments)
irs debt: Top 10 IRS Audit Red Flags
- 12/31/18 07:23 AM
No one wants to pay more income taxes than they are required to, but be careful if you do your own taxes. Attempting to cut your tax liability by getting into IRS grey areas can cause you problems later on. You don't have to do anything unethical to get your return pulled for an audit, you just have to raise too many of these red flags. If you’re in the middle of an audit or owe back taxes, contact us in New Orleans, Louisiana to schedule a free Tax Debt Strategy Session. www.taxcrisisrescue.com
1. Making too much money. Sounds like a problem … (4 comments)
irs debt: How IRS Collection Works
- 12/30/18 10:01 AM
If you are nearby New Orleans, LA and need help with IRS collections or IRS tax debt contact us to find out how to end the harrassment. www.taxcrisisrescue.com
Owing money to the IRS or State can be daunting, intimidating and throw your life out of whack. You might be tempted to just hide your head under a pillow, but ignoring your back taxes will only make the situation worse. Penalties and interest alone can bury you deeper so it’s important to take immediate action.
But where do you start? How do you go about tackling the behemoth that is the IRS and … (7 comments)
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If you are looking for a resolution to your tax debt with IRS, the first step is compliance. This is because eligibility for IRS Fresh Start programs require current compliance. This does NOT mean that you must pay off all your tax debts. Compliance simply means that 1) you have filed all your required tax returns; and 2) you are current in paying THIS years’ tax payments.
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