The IRS is a tenacious debt collector. Even if you file bankruptcy, not all of your tax debts may be dischargeable. Because of how challenging it can be to deal with tax debts, the idea of paying off a tax debt for less than what you owe sounds very appealing. Luckily, the IRS has something for taxpayers called an offer in compromise.
Continue reading “Offer in Compromise: What to Expect”
The short answer to this question is that one’s bad and the other’s worse. But we’ll provide a more complete answer in this blog post. However, before we provide a more in-depth answer, it’s best to understand what tax liens and levies are.
Continue reading “What’s the Difference Between Tax Liens and Levies?”
If there’s one thing taxpayers in California hate more than paying taxes, it’s probably responding to a tax audit. And it’s not just the prospect of having to pay additional taxes or penalties that’s the scary part. Instead, it’s providing documents and other information requested by the IRS or the California Franchise Tax Board (FTB). Not only is it a major hassle and inconvenience, but it can be confusing as well. So it’s understandable that anyone subject to a tax audit might wonder if getting outside help is a good idea.
Continue reading “Tax Audits: Why Hire a Tax Attorney?”
Scams have probably been around almost as long as taxes have. So it’s safe to say unsavory people have been employing tax scams for a while now. And as the years have gone by, the tax scams have changed, although the overall objective remains the same: steal money. Here are some of the more popular or dangerous tax scams to be aware of during the 2022 tax season.
Continue reading “2022 Top 10 Tax Scams to Watch Out For!”
Form 1040 is the standard IRS form when it comes to filing federal income taxes as an individual. Over the years, Form 1040 has been modified to reflect changes in tax law and IRS practice. In some years, Form 1040 saw more changes than other years. The changes from the 2020 Form 1040 to the 2021 Form 1040 aren’t major, but there are still plenty of updates. Let’s take a look at three of the more notable changes for the upcoming tax filing season.
Continue reading “2022 Cha-ch-cha Changes to the 1040! How This Impacts You”
With a new year comes new tax rules and laws to be aware of. Some of these are good and some of these are not-so-good. Let’s take a quick look at some of the more notable changes and what they could mean for your 2022 taxes.
Continue reading “2022 Tax Trends and Tips”
The weather is getting colder and signs of the holiday season have arrived. But besides spending more time with family and friends, now is the time to think about taxes. The following is a list of tax strategies to make the most of 2021 and prepare for the 2022 tax year.
Continue reading “End of Year Tax Planning Guide for 2021”
One of the reasons why tax debts are so challenging for taxpayers is because they’re so difficult to get rid of. They often can’t be discharged during bankruptcy. Then there’s the ability of the IRS or the California Franchise Tax Board (FTB) to place liens on the taxpayer’s property and garnish wages.
Continue reading “Settling Your Tax Debt with an Offer in Compromise”
The IRS is one of the most persistent and effective debt collection organizations. There are plenty of reasons to explain why, but two major reasons have to do with its ability to place a tax lien or levy on a taxpayer’s property.
Continue reading “IRS Tax Liens and Levies: What’s New This Year”
They say two inevitable things in life are death and taxes. But that’s an incomplete expression as it leaves out another mainstay of life: scammers.
Continue reading “Scammers Never Sleep: Tax Scams Continue Year-Round”