A recent press release from the Internal Revenue Service announced their plans to open the 2014 tax filing season on January 31. The press release from the IRS also encouraged taxpayers to take advantage of Free File or e-file methods in order to receive the quickest refunds. Wait for End of Month The IRS has  … Read more

While home prices across the country have seen a steady increase for the first time in nearly six years, there is a looming storm on the horizon. For the many Americans hoping to take advantage of the Mortgage Debt Relief Act of 2007, time is winding down. Unless congress comes in and extends the act,  … Read more

For those still suffering in the wake of Superstorm Sandy, there is some relief being afforded by the IRS. This formulation question primarily deals with damage dealt to businesses in the New Jersey and New York area as a result of the storm. Businesses affected by the storm will not need to apply for taxes  … Read more

The IRS recently announced a new effort called the “Fresh Start Program,” designed to alleviate much of the debt suffered by taxpayers behind on tax payments. The program allows debtors more leeway for debt negotiation when it comes to installment agreement requirements for many taxpayers, an extension of the period of time a taxpayer has  … Read more

As the year comes to a close there are many things to start thinking about in the new year, one being your taxes. Tax time comes quick after the New Year and could bring a hefty tax debt bill if you aren’t prepared. One way to avoid owing the IRS is to take a look  … Read more

While it is true that dealing with credit card debt can be stressful, owing the IRS can be worse. Besides the fact that they are notorious for making persistent collection efforts, they also are quick to implement more serious consequences for nonpayment. Therefore, the best line of defense is quick contact to negotiate a plan  … Read more

Since 2007, homeowners who were given mortgage debt cancellations by lenders, have been free of liability for that amount during tax season. However, the Mortgage Forgiveness Debt Relief Act is set to expire later this year and could have some serious consequences for already struggling homeowners. Loss Not Income When debts are cancelled, the IRS  … Read more

Nobody likes having to deal with the IRS.  Truth be told, not even tax lawyers are too fond of trying to get results from the IRS.  While there are a lot of programs that the Internal Revenue Service offers taxpayers who are interested in debt negotiation, sometimes you have a unique situation that can’t be  … Read more

Did you know that you can undergo debt negotiation with the IRS?  It seems that many people think Uncle Sam isn’t willing to budge when it comes to taxes.  While you will have to pay your taxes, there are lots of IRS programs available to those who are struggling to do so.  These programs can  … Read more

Uncle Sam has a way of finding us, and finding out what he’s owed.  Many freelancers are especially guilty of thinking they can get away with not filing income tax.  However, as much as we all would love to hold on to 100% of our income, the IRS doesn’t have the same sentiment.  If you  … Read more