Can’t you pay off your tax liability because of your financial difficulties? The IRS may help you with an Offer in Compromise (OIC). When you can’t pay off your tax debts, the IRS allows taxpayers to pay less than the full amount owed. The Offer in Compromise isn’t convenient for everyone. Before submitting it, you […]

If you owe back taxes and the IRS is threatening to seize your property, you probably have one question: what can they actually take? The short answer is almost anything of value: your bank account, your car, even your home. But exemptions exist, and there are legal steps you can take to stop a seizure […]

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 your plate. However, it’s unlikely the IRS is going to forget, and they could come after you years after you file […]

A bank levy allows creditors—or the IRS—to freeze and withdraw money directly from your account to settle debts. Government debts like taxes, student loans, or child support often don’t even require a court order. The best way to avoid a levy is to act early: respond to collectors, know your exemptions, and keep protected funds […]

Precision Tax Relief is honored to announce our distinction as the winner of the East Washington-North Idaho 2019 Better Business Bureau Torch Award for Ethics. Precision ranked top among regional contenders for this prestigious award. On September 26, 2019, Better Business Bureau officially conferred the award at our Coeur D’Alene offices. Better Business Bureau distinguishes […]

Most people do not realize their paycheck is at risk until the deductions begin. When tax debt goes unresolved, the IRS has the authority to collect directly from your wages. It is a serious step, and one that often catches people off guard. This guide breaks down what you need to know and what you […]

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 […]