IRS

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...

When you realize you have missing tax returns with the IRS, taking prompt action is crucial. Otherwise, you could receive fines, interest and other penalties. Understanding the steps to fix this issue can remove some of the stress from the process. Gather necessary...

Tax season can be a bewildering time for many individuals, as the complexities of the U.S. tax code can seem overwhelming. However, one of the most fundamental decisions you must make when filing your taxes is choosing the right tax filing status. The IRS explains...

Losing a loved one brings with it a multitude of emotions and challenges. Among the list of things to navigate during these difficult times is the often complex world of financial matters. One question that may emerge is the responsibility regarding your spouse's...