Popular Tags, Blogs, and Videos about irs tax debt

IRS Plan to Help Distressed Homeowners Falls Short

The Internal Revenue Service has announced a process that is supposed to make it easier for financially distressed homeowners to refinance a ... in the property above and beyond the mortgage debt plus enough to cover the tax debt, the IRS is able ... mortgage or sell a home by providing options when there is a federal tax lien blocking [more...]

Date: 2009-01-07 14:59:28

Blog posts (148) | Videos (84)

When You Owe Money to the IRS Tax Debt Relief Can Help

The IRS may offer a settlement deal, or they may agree to a more flexible payment plan Whatever solution you agree to will be the one that you keep Failure to comply with this agreement can result in garnishment and reassessment of penalties and interest [more...]

Date: 2009-09-29 08:10:48

What To Do When You re in Need of Tax Debt Relief

Tax debt relief experts are highly experienced with the IRS They know how to negotiate, and they're almost certain to be better at it and more successful than you would be on your own [more...]

Date: 2009-09-29 08:10:48

How to Make Deals with the IRS on Taxes Owed - Reduce Tax Debt Including Interest and Penalties!

I recently blogged about offer in compromise settlements and my guest appearance as the tax expert on Strictly Business on BlogTalkRadio ... to get a streamline installment agreement. And what they do is take the debt you owe divide it by 60 and that’ [more...]

Date: 2008-12-30 01:56:07

Income Taxes? "No Constitutional Basis or Law"

“In 1913 America was a free country. Then a band of powerful bankers achieved their fathers' and great grandfathers' goal ... , that is direct apportioned tax or indirect uniform tax. The IRS claims that the 16th Amendment allowed ... solely by interest on the federal debt. All individual income tax revenues are gone before one nickel [more...]

Date: 2009-01-14 15:26:00

The IRS Now Willing to Help

Credit issues have never concerned the IRS – unless you were trying to deduct interest on personal debt, ... their tax liens to a different asset. Until now, getting approval from the IRS to complete what is known ... to be more understanding in hardship cases. IRS agents will now have grater authority to suspend tax-collection actions [more...]

Date: 2009-01-13 21:38:24

IRS is willing to cut taxpayers some slack this year

IRS is willing to cut taxpayers some slack this year Jan 12th, ... out. The agency also launched a five-point plan to help those who are behind in past tax debts, giving IRS agents the ability to suspend collection actions, adjust payments for back tax bills and provide lenient [more...]

Date: 2009-01-12 04:21:16

IRS Help for Taxpayers Owing Back Taxes

If you currently owe the IRS and are having trouble making payments due to your current financial condition, there may be relief for you from the IRS. While they won't forgive the debt, they will make ... with an installment agreement in place. They may be allowed to miss a payment or even reduce [more...]

Date: 2009-01-10 17:19:13

Foreclosure Help is On the Way

The freeze on foreclosure sales and evictions has now been frozen until the end of January, ... mortgage debt for people filing for bankruptcy. The IRS is also stepping up to the plate to assist ... payments, many of the homes in question carry IRS tax liens. Over 600,000 such tax liens are filed [more...]

Date: 2009-01-13 03:52:55

Clearer Tax Laws, Help for Struggling Taxpayers Urged

The seemingly endless reams of complex federal tax laws and regulations need to be simplified, ... Code New York Times: Gentler Tax Laws Urged on Debt Default CNNMoney: A Kinder, Gentler IRS? Wall ... on financially struggling taxpayers: "1) Make greater use of collection alternatives when economic [more...]

Date: 2009-01-09 17:03:22

Mental Illness Made The Democrat Not Pay The IRS Or The State Of New York But He Was Fit To Work For The Governor

Robert, it really is a mental illness!  Gov ... he recently settled a debt that soared to at least $206,000. The sum included $151,000 owed to the IRS ... by the state. O’Byrne disclosed the tax debt and his failure to file returns after being questioned [more...]

Date: 2008-10-18 14:05:16

Old Debt Settlements Can Come Back to Haunt with Large Tax Bite

Q. I settled a debt in 2007 for less than owed, paying $15,000 on a $22,000 debt ... you for being so singled out)! Most of the time if you settle your debt with credit card companies ... as a result of cancellation of debt. The amount of forgiven debt will count as income. According to the IRS [more...]

Date: 2008-12-01 14:54:03

What You Need To Know about Tax Debt Relief

The IRS does have the option of reevaluating the amount of taxes that you owe, and this will often result in a lower amount of debt [more...]

Date: 2009-09-29 08:10:48

How to Get the Tax Debt Relief You Need

Author : Vlavladi Vishnu A "little" tax probelm can become a huge financial and legal nighhtmare in just a short time Many thins can cuase you to have tax prbolems You might have made a mistake when you fled, thinking that everything was fine A few months later you get a letter from the IRS that tells you that you owe a substantial amount of mooney What are you gooing to do? [more...]

Date: 2009-09-26 07:31:07

A Tax Lawyer Can Sweeten The Bottom Line

You’ve worked and reworked your tax returns until it feels like your eyes are going to pop out of your head ... the final debt to the Internal Revenue Service a bit easier to handle. They include: Checking for errors – A tax lawyer is much more skilled at handling numbers and IRS tax code than a layman [more...]

Date: 2009-01-06 21:29:03

IRS Doing Their Part to Ease Mortgage Crisis

IRS Doing Their Part to Ease Mortgage Crisis 17Dec08 ... determines that taking a secondary position will ultimately lead to collection of the debt. The IRS has urged all prospective homeowners in such situations to contact the agency’s Collection Advisory [more...]

Date: 2008-12-17 19:05:41

Donate Your Car To Goodwill - And Receive Its FULL Value!

It’s that time of year again.  If you haven’t started doing so yet it won’t be long before you start dragging out boxes of receipts and paperwork ... on your tax return will be sent to you, including a donation receipt and the IRS Form 8283. That’ ... that debt without having to go to jail for noncompliance.  Well, have you considered participating [more...]

Date: 2009-01-13 00:13:00

Tax Resolution Companies- watch out for them....

You hear it on late night TV, early in the AM while you getting ready for work, and in the mail (or spammed e-mail!) ... solution to resolve your debt. The IRS operates in a business type manner as a collection agency ... is a Collection Agency with great collection powers5. You have options- you just need to know them [more...]

Date: 2008-12-30 14:27:00

Media Digest 11/24/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, the US government gave Citigroup (C) a bailout worth over $300 billion ... clients of UBS (UBS) are trying to settle tax cases with the IRS. Reuters writes that leaders ... . The Wall Street Journal reports that the Fed is looking at purchasing long-term debt to help [more...]

Date: 2008-11-24 08:54:11

Taxes, incentives for alternative energy, national politics

While I have my opinions on 'national' politics, I try to refrain from writing about such things ... such as an end to IRS contracts with private debt collection agencies, tighter basis reporting [more...]

Date: 2008-08-26 13:31:00

IRS Unveils Initiatives to Help Taxpayers in Financial Trouble

IRS changes offer relief to delinquent taxpayers. The IRS unveiled a series of initiatives Tuesday aimed at helping people who can’t pay their taxes ... and collection letters to taxpayers who recently lost their jobs, rely on income from Social Security ... the IRS to set up an installment plan. These plans allow taxpayers to pay their debt in monthly [more...]

Date: 2009-01-07 06:45:10

The IRS Will be Hiring

If Barack Obama is elected, the Internal Revenue Service had better double its workforce because the amount of cheating on tax returns will rival ... . I don't even know how deep in debt the nation is at this writing, but I am of the view [more...]

Date: 2008-10-16 18:24:43

Senior LO Sentenced In Mortgage Fraud Scheme Targeting Victims Through TV Ads

Winston Thomas , 43, New Carrollton, Maryland, was sentenced by U.S. District Judge Deborah K. Chasanow to 37 months in prison, followed by three years of supervised release, for failure to file federal tax returns and for conspiracy to commit wire fraud in connection with a scheme in which he and his conspirators offered to help financially vulnerable individuals save their homes from foreclosure, and instead defrauded homeowners and mortgage lenders. [more...]

Date: 2009-09-24 09:07:12

G20 nations meet as protests flare on issue of international banking regulation

Again, the summit is being presented as a way to get the bankers, when it is in fact a further centralization of banking power. The picture below tells you much of what you need to know about the G20. And for new readers, it’s not that banks are inherently bad. But at the international level, economies are being governed now by a syndicate of privately held central banks that operate above the law and print money with which to acquire real equity. [more...]

Date: 2009-09-24 22:35:28

Identity Theft – Are You Letting The Thieves Get Away With It?

How often do you check your credit report? For far too many consumers the answer will be “Only when I want a loan.” That means that identity thieves can use your credit and your good reputation for months or even years before you discover their activities. You might not notice at all until you find your bank account empty. Or, you may receive a notice from the IRS denying your tax refund because it has already been paid – or worse, asking why you didn’t report ALL of your income for the year. [more...]

Date: 2009-09-25 07:15:30

Tax Attorney Assistance

by Michael Brady An irs imposed tax lien on your property is no laughing matter. You can not ignore the irs or their audit notices. If you fail to respond in a timely manner to any requests for information or if you do not appear for a scheduled interview with an irs agent, you are headed for financial ruin. Other times, irs auditing is necessary because the irs wants you to prove a claim or deduction or they think that you provided them with false information. [more...]

Date: 2009-09-27 07:55:59

Job, Home and Stimulus Tax Breaks and Traps in Difficult Financial Times

In these tough economic times with many families struggling to make ends meet and the threat of unemployment looming the last thing people want to think about is taxes. However, it is precisely at the this time, with all the government subsidies on offer covering unemployment to housing that people need to realize what tax breaks and deductions they are entitled to and what tax traps they need to avoid. These include: Job Loss . Severance pay and unemployment compensation are taxable. [more...]

Date: 2009-09-25 03:11:00

What Are Fixed Retirement Annuities?

The Basics An annuity is a product that is marketed by an insurance company. It combines some features of life insurance with some features of investment products. This allows them to provide some benefits of both. A good product should be a safe investment with guaranteed returns, but also provide the owner with higher returns than some other savings options. Fixed vs Variable I am writing about fixed annuities only. You may have heard about variable annuities, but they are beyond this article. [more...]

Date: 2009-09-26 05:46:27

Carney says G20 must stay the course on stimulus

Those reading the transcript of the interview may be surprised to discover that, for all the lip service Carney gives the US dollar, Canada holds 40% of its reserve currency stocks in Euros. Holding Euros is not recent - government reports online dating back to 1999 indicate at the time 24 million in Euro reserves were held. there was a coordinated attempt to prop up the Euro in 2000, an effort in which Canada was a player. In 2008, the figure was 238 million . Just a little history. [more...]

Date: 2009-09-25 15:36:08

Where has the Bailout Money Gone? Good Billions After Bad

Where has the Bailout Money Gone? Good Billions After Bad Vanity Fair by Donald L. Barlett and James B. Steele As the Bush administration waned, the Treasury shoveled more than a quarter of a trillion dollars in tarp funds into the financial system—without restrictions, accountability, or even common sense. The authors reveal how much of it ended up in the wrong hands, doing the opposite of what was needed. Just inside the entrance to the U.S. [more...]

Date: 2009-09-28 06:17:36

Owing Taxes and Finding Tax Debt Relief And Using It

Author : Vlavladi Vishnu You owe taxes to the Intrenal Revenue Service It is soething that happens to thousands of people each year; for some people, it is just a part of life Mabye the bill is small enough to handle, and you will be able to pay it quickly and easily If this hapens, then you are certainly lucky For many, the bill is thousands if not tens of htousands of dollars Very few people have that kind of money readily available If you owe money that is much, much more than you can [more...]

Date: 2009-09-25 05:06:03

Saving Money: Emergency Funds & IRAs

This article is part of our 52 week journey through Bill’s latest book, The Graduate’s Guide to Life and Money.  Each week, a full excerpt from his book will be presented from beginning to end. To get your copy of his book, visit www.TheGraduatesGuide.com . Emergency Funds Emergencies come in all shapes and sizes. If you get into a small accident you may need to pay the $500 deductible on your car insurance. Maybe your furnace will need replaced and it will cost $1,500. [more...]

Date: 2009-09-25 05:00:17

How Many Available Options for Repaying Tax Debt Do You Really Know

While it may take the IRS some time to track down someone that owes back taxes, once they do it’s nearly impossible to get away from them. Instead of thinking that you can simply ignore them or sweep the situation under the rug, you need to take the appropriate actions to make sure the debt is paid off as it’s the only way to get the IRS to go away. Chances are if you talk to the IRS, you’ll be able to work out some sort of repayment plan. [more...]

Date: 2009-09-25 14:36:33

Bankruptcy Judge Gives O.K. to Sale of the Cubs

A federal bankruptcy court judge in Delaware on Thursday approved the Tribune Company’s $845 million sale of the Chicago Cubs to the family of Joe Ricketts, the founder of the TD Ameritrade discount brokerage. One of his sons, Tom, will be the controlling owner, The New York Times’s Richard Sandomir reported. The sale still must go through a Chapter 11 bankruptcy filing of the Cubs on Oct. 12, to divest the team of debt associated with Tribune, and a three-quarters vote of Major League Baseball owners. [more...]

Date: 2009-09-25 09:39:22

Is an Offer in Compromise Right for Your Tax Debt Relief

Author : Vlavladi Vishnu No one wants to be indebted to the IRS However, many people find that they have faallen behind on theiur taxes for one reaosn or another and the IRS is now demanding the money from the back taxews The IRS has a numbewr of different ways that they can get the mooney you owe, and none of them is very pleasant They can do everything from garnishing your wages to sending you to prison when you don’t pay all of your taxes These are thing the aveerage taxpayer can't imagine [more...]

Date: 2009-09-25 05:06:03

A loophole wide enough to drive a GMC truck though

The Bush administration’s outline of its automaker bailout package lists some seemingly sensible changes in labor practices that GM and Chrysler need to make. (Ford, to its credit, is seeking private financing instead.) Targets: The terms ... of Congressional negotiations but did not come to a vote, including: Reduce debts by 2/3 via a debt [more...]

Date: 2008-12-19 16:41:00

Several Tips About How To Talk to the Internal Revenue Service

Author : Vlavladi Vishnu That first phone call to the I R S may feel as if you are Luke Skywalker approaching Darth Vader for a final showdown After all, this is the federal government we’re talking about here! This is the same department that put Wesey Snipres away for tax evason, you know the courageous guy from Psassenger 57 All rgiht, so we know right away that of all the call center representatives you could smart-off to, this is not the one Adfter holding patieently and finlly [more...]

Date: 2009-09-25 05:06:03

Getting Ones Tax Debt Relief Case Together With Your Close Friend

Author : Vlavladi Vishnu When one is seeking tax debt relief, it's imperaive that they have eveyr record of everry expense that may be beneficial to theiir case Most often, when individuals seek out this type of remedy, it's becausse they cannnot pay the debt demaded of them by the IRS To get the government off of one's back, it requires that one makes every effort to ensure that they have every expense, down to the last cent, detailed so that any help they engage can work this to the taxpayer's [more...]

Date: 2009-09-25 05:06:03

Pay Off Tax Debt with a Maximized Return

Author : Vlavladi Vishnu Many consumers find themselves owiing taxes at the end of the year The US has a relatiuvely high tax rate, thoyugh it is certainly lower than some other nations What do you do when you owe taexs at the end of the year? Uncle Sam will want his money as soon as possible You should oviously file an extension for this year's taxes, whgich will buy you some time to save up the money needfed However, what should you do about previous years on whuich you might owe? [more...]

Date: 2009-09-25 05:06:03

Several Tips About How To Avoid the Wrath of the IRS with Tax Debt Relief

The IRS is one of the most featred and reviled of all government agencies, and while that reputation mgiht not be deserved, it is simply a fact that most people have a dislike for the agenmcy that wanst to take thewir money. However, people must remember that the mooney the IRS wants is technically the governmenbt's money. People understand that they need to pay ther taxes, but it doesn’t make them happy to do it. This is where some people get into trouble with their taxews. [more...]

Date: 2009-09-25 14:36:33

It’s Your Credibility, Stupid

Ross Douthat: For a week or so now, I’ve been listening to smart conservatives suggest that Obama’s “spreading the wealth” remark might really, ... ? His signal domestic-policy proposals are 1) a series of tax cuts and tax credits aimed at Americans ... ; both of these plans, he promises, can be paid for with tax hikes on the richest 5 percent [more...]

Date: 2008-10-20 18:04:10

File Back Taxes with Tax Debt Relief Assistance

Author : Vlavladi Vishnu If you know you owe back taxes but you're afrid to file, you should know it doesn't have to be a nightmare Even though you neglected to pay, you don't necessarily have to pay hefty fees, interest and penalites By taking the initiatiove in dealing with the IRS, you'll set yourself up for the best possible resolution to your back tax problem hTere are a lot of misunderstandings about back taxes, and consulting with a pofessional tax debt relief specialist can help you [more...]

Date: 2009-09-24 13:48:17



Date: 2009-01-14 08:55:00

Which reward are you seeking?

I gave notice at my tax job today. As of April 15th, I will officially be out of the tax business. It was the hardest thing I've done in a long time ... year and I wanted to cry because they're such special people and I care about them. I find tax law fascinating. I love empowering people with knowledge so that they don't fear the IRS but understand [more...]

Date: 2009-01-13 05:03:00

Remeber Every Day How To Find the Right Tax Debt Relief for You And How To Use It Promptly

Author : Vlavladi Vishnu If you have fpound yourself in the stuation wherre you are unable to pay your yearly taxes, then it may feel completely overwhelming and frustrating for you One fantastic choice for you to look into to get out from under this mountain of debt is to contact the IRS for an Offer in Compromise An Offer in Compromise is viable for midddle claass and lower income families to help evade the tax debt that may be plaguinng your financees This will offer you the option of [more...]

Date: 2009-09-24 13:48:17

IRS offers help to financially strapped taxpayers

IRS officials say the agency is ready to help the many taxpayers who are facing extraordinary financial difficulties this year and unable to pay ... : Postpone collections: IRS employees will have greater authority to suspend collection actions in certain ... problem, IRS staff may be able to suspend collection without documentation to minimize burden [more...]

Date: 2009-01-07 20:19:58


As I will be “going into hiding” for the next 7 days or so I wanted to provide some comments on Friday’s Emergency Economic Stabilization Act of 2008 ... benefits us tax preparers as well as the IRS, who can now match gains and losses reported on Schedule ... before I begin “lock-down”.In its analysis of the tax aspects of the bill CCH calls it “ [more...]

Date: 2008-10-04 16:31:43

What is 529 Plan

A college savings investment plan that offers significant tax breaks for its beneficiaries is referred to as a 529 plan . The 529 plan is so named after Section 529 of the Internal Revenue Service (IRS) US federal tax code. There are many advantages of this savings plan and it has become a popular way to save money for a child’s education. State tax code effects 529 plan State tax code may affect the 529 plan, and in each state differences will takes place. [more...]

Date: 2009-09-27 13:00:02

Half a Million Lost Jobs, Civil Unrest, the Obama Rally and More!

by Addison Wiggin & Ian Mathias Another half a million jobs lost… unemployment reaches new historic highs So how long until people take to the streets? Army already plans to “quell civil unrest” Consumers, businesses borrow less… Bill Bonner on why government spending can’t cure private withdrawal Hoping for an Obama rally? [more...]

Date: 2009-01-08 01:36:29

Here Is Several Tips For You For Finding Effective Tax Debt Relief

Author : Vlavladi Vishnu If you have somehow gotten behhind on your taxes or not filed your tax rreturn, then this may cause the IRS to contact you to pay back your tax debt on time Don't let this happen to you! You may have hezard terrible stories of othre peoplle in these types of situtaions where they were haunted by their tax debt and had serious issues paying it back These types of situtions whhere you are unable to pay your taxes have hppened to many people for a variety of resaons, [more...]

Date: 2009-09-24 13:48:17

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