Posts Tagged ‘IRS tax debt’

Tax Relief News: Expert Tax Relief Can Help Protect Taxpayers Faced With Mounting IRS Back Taxes

Monday, October 18th, 2010

Contrary to what some TV advertisements will have consumers believe, not everyone is eligible to save “pennies on the dollar” on their back taxes. In these cases, expert tax help is still vital in preventing or halting debilitating IRS collection tactics so struggling taxpayers can preserve their finances to the greatest degree possible.
Many taxpayers in the current economic downturn are struggling to make ends meet, have lost theirs job, are
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Tax Help News: If You Don’t File Your Taxes, the IRS May File Them for You

Tuesday, April 13th, 2010

Make no mistake about it, the IRS is serious about getting your tax return. Filing your tax return every year is not a voluntary act–and you had better file your own than let the IRS do it for you.
According to NYTimes, through mid-March, the IRS reportedly received 68.7 million returns, 3 percent fewer than at the same time in 2009.
In this economy, many Americans may opt to not file because
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Waiting Out the IRS Statue of Limitations Can Dissolve Your Back Taxes and Penalties

Wednesday, November 11th, 2009

Many taxpayers are not aware of the Statue of Limitations that the IRS must abide by when collecting taxes. The date of your initial IRS assessment marks the beginning of your ten-year Statue of Limitations with the IRS. This statue allows taxpayers to be freed from their entire outstanding back taxes debt obligations if the IRS fails to collect all of the remaining debt by the end of the ten
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Make Sure You Get Your Economic Stimulus Rebate By Filing Your Tax Return By October 15th

Tuesday, October 13th, 2009

To help taxpayers like you and me survive through this economic recession, the government is making efforts to put more money in the people’s pockets–especially those who make a low income, Social Security and Railroad Retirement beneficiaries, and recipients of certain veteran’s payments.
You can find out if you qualify to receive the economic stimulus rebate by checking out the Q & A on the IRS website.
The pre-requisite for anyone wishing
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Floyd Mayweather Jr. Agrees to Pay $5.6 Million in Back Taxes

Wednesday, October 7th, 2009

After his comeback fight with Juan Manuel Marquez, Mayweather Jr. agreed to pay the IRS $5.6 million in back taxes before the IRS took it out of his purse.
According to the LA Times, “the IRS sent the Nevada Athletic Commission a levy notice on Sept. 4 ordering Mayweather’s unpaid taxes from 2007 to be deducted from his $10-million fight purse.” Essentially, the IRS managed Mayweather’s cash flow for him by
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Avoid IRS Tax Penalties By Establishing “Reasonable Cause” For Failing to File and Pay Your Taxes

Friday, July 10th, 2009

If you failed to file and pay taxes one year due to severe emotional or physical illness that disabled you from managing your finances, you may be able to escape paying the IRS tax penalties for that year–as long as you can prove the existence of a “reasonable cause” with strong evidence. If your illness incapacitated you from filing and paying taxes for multiple years, you may be eligible to
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