Tax Debt

A Map From The IRS

I am not very good with maps. I prefer my cars navigation system or my cell phone GPS telling me when to turn and finding the best and fastest route to my desired destination. Recently, the Tax Advocate Service released a map of our tax system to...

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Wesley Snipes’ Tax Debt

Wesley Snipes’ Tax Debt

$9.5 Million in Tax Debt We recently posted a news article on Wesley Snipes’ $9.5 million tax debt.  Personally, I love the Wesley Snipes movies I grew up with.  My favorites are Passenger 57 and U.S. Marshals. Failing to File Tax Returns...

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IRS Tax Levy

IRS Tax Levy

What is an IRS Tax Levy? An IRS tax levy allows the IRS to seize and sell your property. This property includes: wages money in the bank or other financial accounts vehicles real estate other personal assets This action is taken by the IRS to...

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Tax Debt Relief Programs

Tax Debt Relief Programs

5 Main Tax Debt Relief Programs There are five main tax debt relief programs:  Offer in compromise  Installment Agreements  Currently Not Collectible  Penalty Abatement  Innocent Spouse Although your back taxes could be disputed on technical...

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Bankruptcy and Tax Debt

Bankruptcy and Tax Debt

Bankruptcy and Tax Debt Bankruptcy can discharge tax debt.  It can also give you a more affordable way to pay back the IRS.   Certain requirements must be met.  These include: that the taxpayer is current with their tax filings the taxes were due...

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