Everything To Know About An Offer In Compromise
Are you worried about a tax bill that you can’t afford? Are you hoping for tax debt forgiveness? Owing more in taxes than you can afford can worry any taxpayer. While you may not be able to attain complete forgiveness of your tax liability beyond filing for bankruptcy, you may be able to pursue another […]
Read moreBack Taxes Explained
Are you feeling overwhelmed by back taxes? Do you wonder when you’ll ever be able to escape the tax debt you’re in? With a little help from us at BC Tax, you can regain control of your finances and get rid of your back taxes. When you work with experienced CPAs, Enrolled Agents and tax […]
Read moreWhat Is Tax Resolution? Tax Resolutions Explained
In the U.S., the Internal Revenue Service (IRS) has the responsibility of collecting federal taxes and making sure people follow tax laws. The IRS handles the processing of tax returns, collection of tax money and the distribution of tax refunds. In 2018, the agency collected around 250 million tax returns and distributed tax refunds worth nearly $400 […]
Read moreTax Planning Tips
You work hard to earn your money. You should get to keep as much of it in your wallet or bank account as possible. Although paying the tax you owe is important, so is making sure you don’t pay more tax than necessary. Tax planning helps you reduce your tax bill or defer certain taxes â […]
Read moreInstallment Payment Amount Factors
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 doesnât require a flat monthly amount for its installment agreements. Here is a look at some of the determinants for installment […]
Read moreShould You 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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