For those who find themselves owing the Uncle Sam more money than they can pay, the IRS offers options to help make tax debt more manageable.  Some of these programs entail spreading payments out over a period of time; extensions to give tax payers more time to pay the money; utilizing the average of a  … Read more

Whether it’s through oversight or mathematical error, sometimes we learn that we owe money to the IRS that we didn’t realize we owed.  Upon discovering that a tax payer owes unpaid taxes, the IRS will send notification that includes details about the error, the amount owed, a due date for payment, and details about how  … Read more

Tax debt is no easy matter. In fact, most people dealing with unpaid taxes often avoid the IRS because they feel they have little recourse. While some tax debts are not eligible for discharge in bankruptcy, there are still options available for resolving these debts. Facts About Tax Debt First, some tax debts are eligible  … Read more

Part of your responsibility in owning a home is paying your property taxes. Failing to keep up with property tax payments can lead to serious consequences and even put your ownership of the home at risk. Property Tax Debts Failure to pay property taxes results in tax debts. Once you owe tax payments on your  … Read more

If you haven’t already done your taxes time is running out, but before you submit your return you should consider whether you will face any additional liabilities. In general, there are two very important questions to ask before filing your return. Do I owe taxes on a foreclosure or short sale? If you are one  … Read more

Tax time brings lots of anxiety for many Americans. Not knowing whether you will get a refund or owe can be nerve-racking . If you expect to owe this year, or are facing old tax debts that haven’t been paid, there is no need to worry. The IRS offers a plan to help you repay  … Read more

This year taxpayers will get a chance to participate in a new IRS program designed to help those who cannot afford to pay their tax debts. Deemed the Fresh Start initiative, the IRS is granting eligible taxpayers two new ways to manage their tax debts this season. Don’t Forget The Form The IRS will be  … Read more

Unpaid taxes are a serious problem that can often lead to more significant consequences by the IRS. While tax debts are not the biggest source of debt among Americans, they can be the most problematic if not resolved in a timely manner. Unresolved Debts The IRS is a creditor when it comes to collecting unpaid  … Read more

One of the major concerns for homeowners going through a short sale or deed in lieu of foreclosure has always been the potential for tax consequences. While a 2007 bill has provided for relief of such tax consequences, the expiration of the bill at the end of this year could bring trouble for homeowners. Mortgage  … Read more

If you owe tax debts, or think you might owe the IRS this tax season, there are some things you can do to evaluate your tax liability. While resolving unpaid taxes is a priority, it doesn’t mean that taxpayers should be overwhelmed by the process. In general, there are three things every taxpayer should do  … Read more