raleigh tax help: Raleigh, NC CPA Firm: Sell or Refinance Home with a Tax Lien!
- 08/21/18 06:17 AM
Need to sell or refinance a home with an IRS tax lien or North Carolina Department of Revenue tax lien? Many clients who come into my Raleigh, NC office assume that they cannot sell or refinance a home with a tax lien or judgment unless the underlying debts are paid in full. Contrary to popular belief, a home can be sold or refinanced when tax liens and judgments have been filed against a property even if the debts are not paid in full. A house with a tax lien can be sold whether utilizing a traditional real estate professional or an … (0 comments)
raleigh tax help: Raleigh, NC CPA Firm: New Tax Law – Deduct Home Equity Loan Interest
- 06/20/18 10:41 AM
The most recent changes to federal income tax law under the Tax Cuts and Jobs Act of 2017 (TCJA) have created a bit of confusion within the real estate investor community. A common point of confusion is whether or not the interest from a home equity loan can be deducted related to rental property. In general, the answer is – YES! Below is additional detail regarding the impact of the new tax laws on home equity loans or home equity lines of credit (HELOC). Old Tax Law: Deducting Home Equity Interest Under the old tax law, home equity loan or HELOC interest … (1 comments)
raleigh tax help: Raleigh, NC CPA Firm: My Day in United States Tax Court
- 05/29/18 08:59 AM
Recently I had the experience of attending US Tax Court in North Carolina. The primary focus of this trip was just to observe and to capture the experience from the perspective of an average person or taxpayer. The main focus of my CPA practice is income tax representation for individuals. Many taxpayers who come into my Raleigh, NC office seek relief from tax problems with the IRS or North Carolina Department of Revenue. Although some tax issues can be resolved in tax court, many can be resolved outside of the courtroom. However, if you do find yourself in US Tax Court, below … (0 comments)
raleigh tax help: Raleigh, NC CPA Firm: Remove Tax Lien From Credit Reports
- 05/17/18 08:40 AM
Tax liens are required to be removed from credit reports issued by the three largest credit bureau agencies (i.e., TransUnion, Equifax, and Experian) effective April 16, 2018. This decision was reached by the credit bureaus due to concerns about the integrity of the data pulled from public records and the correct matching of such data to individuals’ credit reports. For example, a tax lien filed for a person with a common name, say Joe Smith, may show up incorrectly on the credit report for another Joe Smith in the same town or even another person with the same name halfway across … (3 comments)
raleigh tax help: Raleigh, NC CPA Firm: How to File an IRS Offer in Compromise
- 05/16/18 06:03 AM
Have a large tax debt that you’d like to settle with the IRS for pennies on the dollar through the Offer in Compromise program? Filing an Offer in Compromise allows taxpayers to make an offer to the IRS to settle the entire amount due for a lesser amount if they cannot afford to pay. The main focus of my CPA practice is income tax representation for individuals. Many taxpayers who come into our Raleigh, NC office looking to settle their tax debts consult with us about the Offer in Compromise tax resolution option, also sometimes referred to as the “Fresh Start” program … (1 comments)
raleigh tax help: Raleigh, NC CPA Firm: Can I Settle My IRS Tax Debt for Less Than I Owe?
- 05/09/18 10:54 AM
We’ve all heard the ads on the radio and TV claiming to settle tax debts with the IRS for “pennies-on-the-dollar”. Is it a real program? Yes! Can anyone apply to have tax debts reduced? Absolutely, but this is not always the most appropriate solution! The main focus of my practice is income tax representation for individuals. Many taxpayers who come into our Raleigh, NC office looking to settle their tax debts consult with us about this tax resolution option, formally known as an Offer-in-Compromise (also referred to as the “Fresh Start” program or initiative). Below is some information about how an Offer-in-Compromise … (0 comments)
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Lauren Massie, CPA, EA, MBA
CPA - Specializing in Tax Settlement in Raleigh NC
Need to sell or refinance a home with an IRS tax lien or North Carolina Department of Revenue tax lien? Many clients who come into my Raleigh, NC office assume that they cannot sell or refinance a home with a tax lien or judgment unless the underlying debts are paid in full. Contrary to popular belief, a home can be sold or refinanced when tax liens and judgments have been filed against a property even if the debts are not paid in full. A house with a tax lien can be sold whether utilizing a traditional real estate professional or an … (0 comments)
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