Dealing with the IRS can be an unnerving task for many taxpayers, especially when unexpected penalties arise. One such penalty that often catches people off guard is the dishonored check penalty. Understanding this penalty and how to avoid it is crucial for taxpayers to navigate their financial obligations smoothly. In this article, we explore the details […]
How Does the IRS Collections Process Work?
The IRS is responsible for collecting taxes owed to the United States government. When taxpayers fail to pay their taxes on time, the IRS initiates a collections process to recover the outstanding debt. This process can be complex and intimidating for those unfamiliar with it. Understanding how the IRS collections process works can help taxpayers […]
What You Need to Know About IRS Notice CP2000
Receiving a notice from the IRS can be anxiety-inducing for anyone. Among the various notices the IRS sends, Notice CP2000 stands out as one that often causes confusion and concern among taxpayers. However, understanding what Notice CP2000 entails and how to respond to it is crucial for resolving any discrepancies with your tax return. In […]
What Happens to IRS Tax Debt When You Die?
Death is an inevitable part of life, but what happens to our financial obligations when we pass away? Among the many considerations that arise after someone dies, tax liabilities can be a complex issue that requires careful attention and understanding. While tax liabilities don’t simply vanish upon death, the way they’re handled can vary depending […]
What is an IRS Notice of Intent to Offset?
Receiving a notice from the IRS is never pleasant, especially when it involves a Notice of Intent to Offset. This notice signals the IRS’s intention to collect a liability owed to a government agency or entity. They do this by using any federal payments due to you. This might be a concerning situation. However, understanding […]
Can the IRS Take My Pension?
The IRS is responsible for collecting taxes to fund government operations. While the IRS has various tools at its disposal to ensure tax compliance, there are limitations on what assets it can seize. One question that often arises is whether the IRS has the authority to take pensions. In this article, we will explore the […]