A tax lien is a legal claim by a government authority, such as the IRS, against a taxpayer’s property due to unpaid tax debts. This claim acts as a security for the government, ensuring the taxpayer’s obligation is eventually fulfilled. Tax liens can significantly impact individuals and businesses, making it essential to understand their implications […]
Top 5 Tips to Avoid an IRS Audit in 2025
In 2025, the IRS is facing a shifting landscape. Although enforcement funding surged in 2022, recent federal budget negotiations, specifically the Department of Government Efficiency (DOGE) Act cuts, have reduced that long-term funding outlook. But don’t let that fool you into thinking audits are going away. Instead of scaling back, the IRS is getting more […]
Can the IRS Take My 401(k)?
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 […]
Can the IRS Levy a Joint Bank Account?
When it comes to IRS collection efforts, few actions feel more intrusive than a bank account levy. If you share a bank account with a spouse who owes tax debt, it’s only natural to worry: Can the IRS levy a joint bank account? The answer is more complex than a simple yes or no. While […]
Back Taxes and Divorce: Who Pays What?
Divorce often accompanies financial complications, and one of the most overlooked but critical issues is back taxes. Many divorcing couples are surprised to learn how complex and persistent IRS debt can be, especially when it’s tied to years of joint tax filings. The question of who pays what isn’t always as simple as looking at […]
What You Need to Know About Underpayment of Tax Penalties
Taxes are an essential part of a functioning society, providing the government with the necessary funds to provide public services and support various programs. However, when it comes to paying taxes, many individuals and businesses may find themselves making mistakes or underestimating their obligations. This can lead to tax underpayment, a situation that often incurs […]