If you owe taxes to the IRS, they may apply an overpayment or refund towards an unpaid balance.
Though the IRS paused sending collection notices during the COVID-19 pandemic, the IRS has resumed sending these notices. Taxpayers with outstanding balances who receive any notice from the IRS should not ignore them and address them quickly.
The Internal Revenue Service's practice of unannounced visits is coming to an end, with the IRS announcing this past summer they would be stopping the visits due to various scammers posing as IRS Agents.
If your business had to close during the Covid pandemic, you may be eligible for a tax credit.
If there's been a lien filed against your property and the debt has been paid, you may wonder what's next. There are two ways to remove a lien from your property, but what option best suits your situation?
With the end of the pandemic, the holds on IRS notices are ceasing. We can expect the IRS to resume sending notices to taxpayers about any balances or unfiled returns owed to the IRS.
Criminal investigations for tax fraud related referrals are on the rise.
A lien is a claim against collateral for payment of a debt. A creditor has to make sure that their claim is filed timely and correctly to preserve their right to the collateral.
If the Internal Revenue Service (IRS) has placed a tax lien on your property, once you've satisfied the debt, the IRS should notify you that the lien has been removed. To do so, the IRS should send you a “Certificate of Release of Federal Tax Lien,” also known as Form 668(Z). But you may still wo...
The Internal Revenue Service is responsible for notifying creditors and taxpayers before levying property. But what happens when the IRS doesn't get the notice right?
What happens when the state and federal government are both trying to seize your property?
If you owe an outstanding debt to the IRS and you've received notices of intent to levy, you're probably worried about how bad things can get with the IRS. While the IRS is entitled to your property to satisfy your debts, there are limits to what they can take from a taxpayer.
If you're facing a levy from the IRS, seeing a notice that the IRS intends to levy your bank account or your wages can be frightening. But it's important to understand the type of levy you're facing and how it will work. IRS Levies A levy is a legal seizure of your assets by the IRS. It can in...
If you received a levy notice in the mail it may mean that the IRS intends to seize your property because of a delinquent tax debt. To release the tax debt you will need to full pay the tax debt or explore some of the other options available if you cannot full pay your balance.
Living abroad can create many complex tax situations for U.S. citizens and resident aliens. For US citizens, your total global income is taxed, but what if you're a resident of a foreign country?
A tax lien can be field against you if you have an unpaid balance that has gone ignored and is still unpaid. The lien notifies other creditors that the government has a legal right to your property.
The IRS has a set amount of time they can pursue your outstanding tax debt, but that doesn't mean you shouldn't make efforts towards paying the balance. The collection statute expiration date (CSED) is a ten-year period that the IRS has to collect unpaid taxes from you, but there are some exceptions and extensions that can apply.
As a taxpayer, you have certain rights to challenge the Internal Revenue Services' position on your tax matter. You can appeal any collection decision made by the IRS for reconsideration.
It is understandable that you would worry when receiving a collections notice from the Internal Revenue Service, especially if the balance is substantial to you. It is important to not ignore these notices, because the collection process begins the second you receive the notice. However, while the balance may seem daunting, you have a few different payment options.