Business, Business Consulting, IRS, News, Personal Taxes, Taxes,
Can the IRS Take My Passport if I Owe Taxes?
The FAST Act If you or a loved one are among the hundreds of thousands of American taxpayers deemed to owe “seriously delinquent” tax debt, it is important to be conscious of the risks you are facing. Due to the Fixing America’s Surface Transportation (FAST) act, your passport may now be revoked if you’re liable […]
IRS, Personal Taxes, Taxes,
“I’d run into a burning building, but I couldn’t bring myself to open mail from the IRS”
I spoke to a prospective client today that is a firefighter in California. He told me his story about getting mail from the IRS and it stuck with me all day. I always knew how difficult it could be to deal with IRS debt, but it was the way this firefighter put it so succinctly […]
IRS, News, Personal Taxes, Taxes,
IRS Scams on the Rise: What Taxpayers Need to Know
Americans lose billions of dollars each year to fraud, and more recently, these scammers have moved into the taxpayer’s arena. Fraudsters impersonating IRS officials have become a common problem in the United States causing havoc at the federal level by stealing refunds from unsuspecting victims. These scams may come in the form of a phone […]
5 Steps to Take Before Jan 1 to Save On Your Taxes
The tax rates are going down next year, so a deduction now is worth a lot more than it will be in 2018. On top of that, several popular deductions are disappearing next year or getting substantially limited. But if you act now, you can get the tax savings you had hoped to take in 2018 […]
Personal Taxes, Taxes,
Tax Deductions You May Not Know About
What is a tax deduction exactly? Simply, tax deductions lower your taxable income; this plays to your favor as the lower your taxable income is, the more cash you get to keep in your pocket when you go to pay taxes. There are deductions for all sorts of things; here are 8 tax deductions you […]
How to Find Out if You Owe Taxes
Estimated reading time: 6 Minutes So you filed your taxes last month, but for whatever reason, you feel like you might actually owe the IRS taxes, rather than being issued back a return. Or maybe your situation is different. Perhaps your employer doesn’t deduct taxes from your paychecks throughout the year and you know for […]
All of Your 1040 Tax Form Questions, Answered.
Estimated Reading Time: 8 Minutes We’re currently in the midst of tax season, and you’ve been procrastinating filing your tax return for the year. You are definitely not alone. Just the thought of filing your taxes sounds like it’s going to be a daunting task. Below are the most common questions about IRS Form 1040. […]
IRS, Personal Taxes,
Can the IRS Take Your 401(k)?
Estimated Reading Time: 7 Minutes If you’ve worked your entire life to save money for your retirement, it can pose a serious issue if you receive a notice of delinquent federal taxes from the IRS. It may feel unfair and worrisome for both yourself and your family. You may wonder how it is possible for the […]
Woman sues Howard Stern over airing private call with IRS
On Monday, satellite radio personality Howard Stern was hit with a lawsuit initiated by a woman named Judith Barrigas for allegedly airing a private conversation with an IRS agent on his talk show. Per the complaint filed in Massachusetts federal court, Barrigas called the IRS’s service center on May 19, 2015 to discuss the potential […]
I Got a Notice Of Deficiency From The IRS. What Should I Do?
Estimated reading time: 5 minutes What You Should Do After Getting an IRS Deficiency Notice First, take a deep breath and relax. A deficiency notice is not a bill. It simply outlines information sent to the IRS by a third party and proposes how it may affect your taxes. The IRS cross-references information filed […]
Someone’s Claiming I Owe Money To The IRS. Is This Legit?
Estimated reading time: 8 minutes Are you wondering how ConServe Accounts Receivable or another private debt collection firm could be collecting your taxes? Check out our post below for answers. It turns out that sometimes the IRS turns to private debt collectors too. ConServe Accounts Receivable is a private debt collection agency. They are notorious […]
IRS, Personal Taxes,
How to Respond to an IRS Notice Letter (or IRS Notice of Deficiency)
Estimated reading time: 4 minutes. You have received an IRS Notice letter in the mail. On its front are stamped the letters “IRS.” The pit of your stomach drops and this once innocuous envelope now holds your full attention. What do you do next? Open Your IRS Letter First, open it. It may not be […]