IRS

The IRS sends a notice of deficiency when it believes a taxpayer owes additional taxes. This letter, also called a "90-day letter," gives the recipient 90 days to respond before the IRS assesses the tax. Ignoring this notice can lead to penalties, interest, and...

If you owe taxes to the IRS and can’t pay the full amount right away, you have options to set up a payment plan. The IRS offers several choices that can help you pay off your taxes over time. Understanding these options will make it easier to manage your payments and...

Getting a tax decision from the IRS that you disagree with can be frustrating. Fortunately, you have the right to challenge it through an appeal. Understanding the process helps you take the right steps and increases your chances of a favorable outcome. Review the IRS...

The IRS’s Fresh Start Program provides relief for taxpayers struggling with unpaid tax debt. It offers a structured way to manage tax obligations and avoid severe penalties. Understanding the program’s components and qualifying requirements can help individuals regain...

The rise of gig economy work, including freelancing, ride-sharing, and other contract-based jobs, has drawn the attention of the IRS. As more workers join the gig economy, the IRS increases its scrutiny, which impacts how workers report taxes and meet compliance...

Taxpayers sometimes face penalties for filing their taxes late. These penalties can add up quickly, causing financial stress. Fortunately, taxpayers have ways to challenge these penalties if there is a reasonable explanation for the delay. Understand reasonable cause...

Digital nomads often earn income while traveling across different countries. Understanding how the IRS treats foreign income is crucial for tax compliance. The IRS rules can be complex, but knowing the basics helps digital nomads avoid penalties. What qualifies as...

When you owe a tax debt to the federal government, the IRS may place a tax lien on your property to secure payment. A tax lien can complicate your financial situation by affecting your ability to sell property, secure credit, or refinance.  If you've partially paid...

Dealing with unfiled taxes can be daunting. The length of time the IRS can review your tax history, known as the statute of limitations, varies depending on several factors. Understanding the statute of limitations For most tax returns, the IRS has three years from...

Are you considering settling your IRS debt ahead of schedule? Many people find themselves in a situation where they owe taxes and opt for an installment agreement with the IRS to manage the repayment. However, circumstances can change, and you might want to clear that...