If you can’t afford your tax bill, ignoring it will only make the problem worse. The IRS charges daily interest, penalties, and can eventually garnish wages or seize assets. The good news: you have several options to manage your tax debt and protect yourself. What Happens If You Don’t Pay Your Taxes? Immediate penalties and […]

The IRS tax debt is the worst one that you can have. Because you can never run away from the citizenship responsibilities. And, never-ending IRS notices can be your nightmare. This daunting situation gets worse with garnishment or seizure possibilities. But getting a tax attorney on your side can make things easier. Their expertise can […]

When a business receives a cash payment exceeding $10,000, it is required to file Form 8300, titled “Report of Cash Payments Over $10,000 Received in a Trade or Business,” with the IRS and FinCEN. This form assists federal agencies in tracking large cash transactions to combat money laundering, tax evasion, and other illicit activities. Any […]

Let’s agree on this. No matter how much money you owe, the IRS will eventually collect your tax debt. And the total unpaid taxes will keep increasing each month until you pay.  Of course, the best thing is to pay the debt on time, but taxpayers may be unable to pay their debts for many […]

What happens if a deceased person owes taxes to the IRS? Are unpaid taxes automatically forgiven at death, or do the heirs inherit the debt? Settling IRS Tax Debt from the Estate After Death An estate is a person’s total collective property after their death. When someone with IRS tax debt dies, the debt doesn’t […]

A delinquent tax is a tax that hasn’t yet been paid to the IRS, which includes various types of federal taxes, such as income tax, payroll tax, or excise tax. Whether you’re an individual or a business, failure to file your taxes will lead to delinquent status once you have missed the filing deadline, and […]

Yes, failing to file your taxes is illegal. The IRS can impose heavy penalties, seize assets, and even pursue criminal charges for tax evasion. While not everyone is required to file a return, if you meet filing thresholds or expect a refund, you must file. Do You Have to File Taxes Every Year? Not everyone […]

Various tax relief options can resolve many tax issues, but when we talk about tax evasion or tax fraud, the things are different because the IRS may refer your case to federal courts. If you’re deliberately evading taxes, you should know that the result may end in prison. Still no need to panic. To make […]

Dealing with the IRS can feel like you’re in a labyrinth, where every turn brings a new complex rule or deadline. The possibility of an audit can be scary, or an unexpected tax bill can cause anxiety. Even so, understanding the IRS’s statute of limitations can be your guiding light. What Is a Statute of […]

Any tax debt, no matter the amount, puts a heavy burden on you. Aware of this, the IRS arranges alternative payment plans to help you settle your tax debts as soon as possible. The IRS has an initiative called the Fresh Start Program, which brings together various tax relief options. Should you qualify for one […]