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Earlier this year, the Internal Revenue Service (IRS) rolled out its Fresh Start Initiative, aimed at helping struggling taxpayers. The initiative allows qualified taxpayers to avoid the IRS Failure to File penalty. This penalty is usually placed on unpaid tax balances, with accrued interest. Qualified individuals can request a six-month payment extension in which no […]
The post Do I Qualify for the IRS Fresh Start Initiative? appeared first on Debt America.
How do you know if you need a tax attorney? Tax attorneys are lawyers who specialize in the complex and technical field of tax law. According to this article from about.com, you definitely need a tax attorney if: You have a taxable estate, need to make complex estate planning strategies, or need to file an estate tax return. […]
Annually, the Internal Revenue Service (IRS) reaches out to taxpayers across America who earned $49,078 or less to offer a little tax relief by way of the Earned Income Tax Credit (EITC). The EITC varies according to your income, family size and filing status. Basically, it is a federal refund for taxpayers with low to […]
The IRS brings good news this week to middle-class Americans who continue to struggle with tax debt by expanding their Fresh Start Initiative. Loosened guidelines for the Offer in Compromise program, which forgives a portion of a taxpayer’s debt, will allow more Americans to qualify as well as eliminate their tax debt in as little […]
A IRS tax levy is the toughest collection tool in the IRS arsenal. An IRS tax levy means that the government has the right to seize your property and assets in payment for unpaid tax debt. Unlike a lien, a tax levy actually gives the IRS the right to take and sell your property to […]
The post How to Remove an IRS Levy appeared first on Debt America.
Don’t fall victim to tax relief scams. Learn how to spot a scam and what to do. Thousands of people fall victim to tax relief scams every year – make sure it’s not you. Unfortunately, the Tax Relief Industry attracts circling vultures waiting to prey on those who are weakened by the threat of IRS […]