Do You Owe Back Taxes?  If so, you could face tax levies if you continue to miss payments. These penalties are serious business that could lead to devastating consequences. A tax levy is an administrative action that the Internal Revenue Service (IRS) can take. It gives them the authority to seize your personal property to satisfy a tax liability.  […]

It’s a hard time to be a working-class American. Despite economic gains on a macro level, most American families are still living paycheck to paycheck. This financial hardship can rear its ugly head all through the year but can be especially difficult to face around tax time. The IRS hardship process can be your answer. If you […]

Avoiding paying taxes is impossible. You’ll face government tools like the IRS tax levy and tax lien. Reports show 40 percent of all the money the United States Treasury collects is from individual income taxes proves the same. In roughly equal measure, at least 40 percent of American households don’t pay income tax. Some do it knowingly, […]

21% of taxpayers in the U. S. are expected to owe the Internal Revenue Service (IRS) money in the 2019 tax season. With the recent changes the Treasury Department and the IRS made to reflect the new Tax Cuts and Jobs act, many taxpayers are set to owe more taxes. For example, these changes bring an […]

About 458 billion dollars in taxes go unpaid each year. So if the IRS says that you owe years of taxes, you are not alone. And if you can’t foresee any way that you’d be able to pay those taxes, you are still not alone. However, if you do owe taxes, one of the worst things you […]

In 2018, the IRS collected more than $55 billion in unpaid taxes. These collections can take many forms, including asset levies to recover back taxes and penalties.  If you’ve received a levy notice from the IRS, you may wonder what can the IRS levy to recover your taxes owed. These levies can take many forms, depending […]

An IRS tax levy results in the takeover of your bank accounts, property, and even your paycheck if it comes down to it. Unfortunately, the IRS assesses a tax levy without considering the financial implications that led to back taxes in the first place. Explaining your finances to the IRS is the best way to stop […]

The Internal Revenue Service (IRS) has the legal authority to seize your assets and property when you owe back taxes. Unlike other creditors, the IRS can enact its power when it sees fit. Not only can it use whatever power and means it wishes, but it doesn’t need to get a court order to do […]

Are you a senior citizen who owes money to the IRS for years of unpaid taxes? With little earned income when you retire, it can be even more difficult to pay your tax debt. The money you currently earn from your social security check and retirement funds can feel like it’s not enough to sustain […]

Every year, 30 million people end up owing money to the federal government for taxes. If you’re one of those people with unpaid taxes, you might forget about it and let it fall off of your plate. However, it’s unlikely the IRS is going to forget and they could come after you years after you file for […]