Owing back taxes is a stressful situation for many Americans. With it comes fear over what the IRS can do to collect. One common concern is whether your hard-earned retirement savings, specifically your 401(k), are at risk. The short answer: yes, the IRS can take your 401(k) under certain conditions. But it’s not their first […]
Article from November 2025
Tax Shelters: Meaning, Examples & How They Work
Tax shelters have long been a topic of interest and controversy in the world of finance and taxation. They can serve as valuable tools for individuals and corporations seeking to minimize their tax liabilities. However, the use of tax shelters often raises ethical and legal questions. This article dives into what tax shelters are, how […]
Can the IRS Seize a Legal Settlement If You Owe?
Dealing with the IRS is stressful enough, but when you’re expecting a lawsuit settlement, the stakes feel even higher. One of the most common questions taxpayers ask is: Can the IRS seize a settlement? The short answer: Yes, the IRS can seize or levy certain types of settlement payments if you owe federal tax debt. However, the long answer is far […]
How Much Do Billionaires Pay in Taxes?
This article explains how billionaires are taxed, why their effective tax rates differ, what the data shows about their real contributions, and how tax policy changes continue to affect what they pay. Understanding Billionaire Taxation Before exploring how much billionaires pay in taxes, it’s important to understand how the U.S. tax system works, and how the ultra-wealthy […]
How to Apply for the IRS Fresh Start Program
Key Takeaways Millions of Americans face challenges with unpaid taxes, and the IRS Fresh Start Program offers a structured path to relief. Originally launched to help taxpayers overcome financial hardship without harsh collection actions, this initiative remains a vital lifeline for individuals and small businesses. If you’ve ever wondered how to apply for the […]