Factors of Installment Payment Amounts

What determines your tax installment payment amount? Several factors come to mind. Since every person has a unique financial situation, their tax payment terms are also unique. Lucky for all of us, the government doesn’t require a flat monthly amount for its installment agreements. Here is a look at some of the determinants for installment […]

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Should I File Bankruptcy Because of Back Taxes?

When tax debt becomes overwhelming, it is normal to seek out an all-inclusive solution. For some people, that solution comes in the form of bankruptcy. Bankruptcy is a form of debt relief that essentially wipes the slate clean, giving you a fresh financial start. However, it comes with some serious consequences. Before you commit to […]

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How To Keep Tax and Financial Records Safe

Hurricanes, tornadoes, fires, floods and other natural disasters are common during the summer months. Take a few simple steps to protect your tax and financial records in case a disaster strikes. Here are four tips to help you protect your important records. Backup Records Electronically. Keep an extra set of electronic records in a safe […]

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What Types of State Taxes Do I Owe?

Back taxes owed at the state level may include but not be limited to: Sales and use tax Withholding tax Unemployment tax Excise tax Property tax Workers compensation Income tax Each state handles tax liabilities differently and has its own specific procedures and collection avenues. State taxing authorities often are more aggressive in tax collection […]

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How Long to Wait for Tax Resolution?

Taxpayers often believe they must wait a certain length of time before seeking help with their tax debts. This is like waiting for the engine to drop out of your car before you get an oil change. There is no set timeframe for seeking tax resolution. Get help as soon as you think you need […]

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Received An IRS Notice? Here’s What To Do

Each year the IRS sends millions of letters and notices to taxpayers. Understandably, you may feel anxious if you receive one. Don’t panic. There are many reasons the IRS sends notices to taxpayers. The notice usually covers a specific issue about your account or tax return. It may request payment of taxes, notify you of […]

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