Receiving a notice from the Internal Revenue Service (IRS) can be an unsettling experience for any taxpayer. One of the types of notices the IRS sends is called CP14. This notice informs you about the unpaid tax amount due for…
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The filing of a Notice of Federal Tax Lien by the IRS automatically applies to all your property, including your home. Although a tax lien does not lead to immediate collection of your tax debt, such as through wage garnishment…
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A Trust Fund Recovery Penalty assessment is a tool the IRS uses to enforce the collection of unpaid payroll taxes. These taxes include federal income taxes and employee contributions to FICA (Social Security and Medicare). The trust fund penalty is…
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On December 21, 2023, the Internal Revenue Service (IRS) introduced a new Voluntary Disclosure Program. This program is designed to help businesses that have mistakenly filed claims for the Employee Retention Credit (ERC) to pay back the money they received…
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An IRS Bank Levy is one of the ways the Internal Revenue Service (IRS) can collect unpaid taxes. If you owe back taxes and have not made arrangements to resolve your debt, the IRS can seize your bank account for…
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An IRS Notice of Deficiency, also known as a "90-day letter," is a notice that no taxpayer wants to receive. It was sent to you because the IRS is proposing an increase to your taxes due to a mail or…
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To understand IRS lien subordination, you must first know what a tax lien is. Simply put, a federal tax lien is the U.S. government's legal claim against your property when you fail to pay a tax debt. When the IRS…
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If you've been notified that your tax return is subject to an Internal Revenue Service (IRS) audit or examination, you may have received an IRS Information Document Request or IDR. This formal request from the IRS is a standard part…
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Getting a letter from the Internal Revenue Service (IRS) can be a source of anxiety for many individuals. One particular letter, IRS Letter 1058, frequently causes confusion and worry. It is a serious matter if you've recently received IRS Letter…
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Sometimes unforeseen circumstances can create financial hardships that make it difficult for individuals and businesses to meet their tax obligations. To alleviate some of the financial strain, the IRS offers a Tax Forgiveness Program, officially known as an Offer in…
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