Let Morgan Sebastian Law Help Solve Your Tax Problem
Your home is probably one of the more valuable assets you own. Indeed, according to Ramsey Services, the average sales price of a house in the Golden State is upwards of $600,000, which is more than $280,000 more than the national average. Owning a home gives you...
There are various issues that could cause difficulties for you in making your federal income tax payments. The Internal Revenue Service (IRS) can help resolve the debt through an Offer in Compromise, but can you qualify for this agreement? What it is An Offer in...
The process of auditing can be costly for the IRS. As a government agency, it relies on funding from the federal government to operate. When funding for the agency is low, it often leads the IRS to avoid auditing people making the most money. These higher earners pose...
Learning that the IRS wants to audit you is an overwhelming prospect. It is natural to feel concerned, but keep in mind that some audits result from random selection. Even if the IRS has questions about your tax return due to errors or oversights, there is no reason...
Filing a joint tax return as a married couple can offer you certain benefits. However, if you and your spouse decide to divorce, you may bear responsibility for paying any outstanding taxes or penalties. According to Benefits.gov, you may be eligible for innocent...
If you owe back taxes, you likely have considerable stress regarding this issue. Whether you recently received a letter from the IRS or you have dealt with unpaid taxes for years, it is pivotal to explore all of your options and address this debt properly. If you...
If you owe the IRS money, it can be challenging to figure out how to pay that bill. You may not have expected to owe the money, and you may not have it on hand. The IRS explains it offers multiple ways for you to handle your tax debt. Additional time option You may be...
Owing back taxes can feel like a crushing burden when your financial situation does not allow you to make any tax payments without cutting into your food or shelter budget. The IRS is aware that some people lack the money to pay their outstanding taxes and may defer...
In most cases, when you have a debt forgiven, tax agencies treat them like income. Since President Joe Biden announced he is forgiving student loan debt for many borrowers, there is concern about whether it is taxable. According to Time, the federal government will...
The idea of a tax audit is nerve-wracking for most people. However, the Internal Revenue Service usually does not perform an inspection at random. There are several reasons that people might receive an audit notice. The IRS is more likely to audit someone if the...
