IRS

Dealing with the IRS can be stressful, especially when penalties are involved. However, there is a provision called "penalty abatement" that can provide relief in certain circumstances. When dealing with the IRS, you must understand what penalty abatement is, when you...

Receiving a letter from the IRS about unpaid taxes can be unsettling and create a great deal of uncertainty. You might wonder about your options and whether you need to file a Collection Due Process (CDP) request in California.  What is a collection due process...

The IRS has the authority to place a levy on your bank account if you owe back taxes, which allows them to seize funds directly from your account to cover the outstanding debt. Understanding the mechanics of bank levies and the steps required to release them is...

Identity theft is a serious and common concern. For example, the Bureau of Justice Statistics points out that it victimizes about 9% of U.S. residents 16 and older per year. One significant consequence of identity theft is the potential for tax issues with the...

Receiving a letter from the IRS can stir a mix of emotions, from mild concern to outright panic. While it is tempting to set aside that envelope unopened, hoping the issue will resolve itself or disappear, this approach can lead to serious consequences. The IRS...

Many people owe taxes to the Internal Revenue Service but cannot afford to pay the full amount upfront. They may request an installment agreement to make manageable monthly payments. These agreements allow you to pay off your tax debt over time. However, it is...

If you were born on U.S. soil or have a parent who is a U.S. citizen, you may be an "accidental American" even if you do not live in the country. This makes you a citizen and subjects you to taxation despite spending none of your life in America. Understanding your...

Losing a loved one is undoubtedly a difficult time, and amidst the emotional turmoil, it is important to navigate the practical aspects of their affairs. One important question that arises is what happens to tax debt after someone passes away. Understanding the...

A tax levy arises when the IRS seizes your assets to satisfy outstanding tax debts. When it comes to your home, the consequences can be particularly intricate. An IRS tax levy on your personal residence can be particularly challenging. It can affect your ability to...

Navigating the intricacies of IRS installment agreements can be a challenging task. Many individuals inadvertently make mistakes that can lead to financial consequences. Understanding these pitfalls is important to ensure a smooth and successful resolution with the...