Tax debt can arise for numerous reasons, many of which are simply out of the control of the taxpayer. There are those that ignore their tax liabilities or try and “work the system” to get around paying higher taxes, but many people ended up owing the IRS through no fault of their own. Whether it  … Read more

Unfortunately, tax debt is becoming a common source for the debt burden of many families. Unpaid taxes can easily result in penalty fees, wage garnishment and tax levies. For the family struggling to make their payments and keep food on the table, adding a large tax debt can be the final straw. What is most  … Read more

Many people end up in significant debt over unpaid tax liabilities. Owing the IRS money is serious business and the IRS doesn’t take tax debt lightly. Many people experiencing financial trouble wonder whether tax debts are dischargeable through bankruptcy.  Some say that tax debt is not dischargeable in bankruptcy. While this may be true in  … Read more

Some mortgage owners in Detroit have found a unique loophole to dodge their unpaid debts. Many investment property owners have avoided paying their property tax bill by voluntarily defaulting on their mortgage payments. Generally, homes at risk of foreclosure would end up getting sold at the auction and the previous homeowner would walk away absolved  … Read more

Debt: Most people have it, everyone fears it. Whether the debt is personal or business related, the threat of bankruptcy, foreclosure, tax liens and bank levies is enough to lose sleep over. With such a turbulent economy, businesses of all sizes are fighting to keep the bills paid. Unfortunately, many small businesses are experiencing an  … Read more

Unpaid taxes can really add up quickly for unsuspecting families. Tax debt can leave many families in turmoil when they are already financially strapped. In fact, tax debt is a big contributor to bankruptcy filings. The most important thing to know about tax debt is that it must be repaid. The IRS does not take  … Read more

Did you know that many bankruptcy filings are brought on by debt that was unintentionally collected? We aren’t talking about simply racking up charges on credit cards carelessly; but referring to debt from unexpected medical bills, loss of a job and even because of mistakes in a previous tax return.  If a previous tax return  … Read more

Luckily, the 2010 tax season has passed and some were fortunate enough to get by unscathed. But what about those who end up owing the IRS more than they can afford to pay? It is more common than you would think for hard working taxpayers to end up becoming financially strapped because of taxes. For  … Read more

If you are one of the many Americans faced with owing the IRS this tax season, you may be wondering exactly what your options are. There are numerous companies that assist consumers in repaying their tax debts. Just as the case is with some poor credit counseling agencies, consumers need to watch out for tax  … Read more

The 2010 tax season is over, but one of the largest tax preparation services never rests when it comes to finding a bigger niche in the market.   Over 22 million people worldwide use H&R Block’s in-house services each year to prepare their taxes. But with an increase in the demand for do-it-yourself tax preparation software,  … Read more