Some taxpayers who come to us seeking an IRS tax settlement also owe state income taxes. Each state has its own rules and regulations to resolve back taxes. For those taxpayers who have Georgia tax problems, you should know that…
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Many tax penalties are substantial and can significantly increase the amount you owe the IRS. Penalties can be assessed for various reasons, with some resulting from a taxpayer’s carelessness, overstatement of deductions, failing to report income, or procrastination. (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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Are you in need of IRS tax relief services? Here are 10 of the most frequently asked questions by taxpayers seeking IRS tax debt help. (more…)
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If you’re a business owner with highly appreciated business or investment real estate there is a tax planning strategy you should know about before you consider selling your property. It is a Section 1031 “like kind” exchange. (more…)
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Have you received an IRS notice or letter and are afraid to open it? Don’t worry; many of these letters can be resolved easily and painlessly. Every year, the IRS sends millions of letters and notices to taxpayers requesting payment of taxes, notifying…
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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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This is the final blog in our three part series discussing common mistakes made when submitting an Offer-in-Compromise. Retaining the services of a qualified tax resolution professional will help you avoid these errors. (more…)
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In our previous blog we discussed the mistake of not considering the remaining statute of limitations on collections before filing your Offer-in-Compromise. Here we discuss mistakes made in calculating a taxpayer’s future income which is used in determining your Offer…
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The Offer-in-Compromise program is one of the most popular programs used by both tax practitioners and taxpayers when considering a way to resolve IRS back tax problems. An Offer-in-Compromise allows qualifying taxpayers to settle their back taxes for less than…
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