Unreported income is a significant issue for the IRS. The agency estimates that the United States loses billions of dollars in tax revenue each year due to unreported income. Given the scale of this loss, it is not surprising that…
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Taxpayers dealing with tax debt can feel overwhelmed and stressed, particularly with the IRS' threat of penalties, interest, and enforced collection. During these trying times, IRS debt relief firms become valuable partners, providing specialized services to assist taxpayers in navigating…
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Facing IRS tax problems can be a stressful and complex situation, and you might think you need the help of a tax attorney. While tax attorneys can provide valuable assistance and expertise, they may not be necessary or affordable for…
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At $54,000 (as of 2021 and adjusted each year for inflation), your tax debt—which includes penalties and interest—becomes “seriously delinquent” under Internal Revenue Code 26 USC 7345: Revocation or denial of passport in case of certain tax delinquencies. At this…
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Tax debt doesn’t go away on its own. There is a solution to every tax problem, but finding the right resolution for your situation requires a thorough understanding of your circumstances and a comprehensive look at potential solutions. These three…
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You’ve probably heard the old saying, “if it sounds too good to be true, it probably is.” It turns out that that advice is particularly applicable in the tax debt relief arena. Many taxpayers who are struggling with tax debt…
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There are many reasons why taxpayers find themselves with tax problems and on rare occasions it is due to criminal intent. However, the majority of tax problem resolution cases we deal with are caused by some serious event that occurred in the taxpayer’s life. (more…)
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If you have been procrastinating about filing your 2021 tax return or have unfiled tax returns for prior years, you need to consider the consequences, such as penalties, interest, and aggressive IRS collection actions. (more…)
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In April, the IRS began mailing letters to a small group of taxpayers whose past due tax accounts are being assigned to one of four private debt collection agencies. The program will expand to thousands of other taxpayers later in…
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We’ve previously written about a law enacted in December 2015 that authorizes the Secretary of State to deny the issuance or renewal of passports to “seriously delinquent” taxpayers. The purpose of the law is to use travel as a way…
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