Tax Law

Tax debt is arguably the most intimidating financial obligation a person can face because the Internal Revenue Service (IRS) has the power to take more aggressive collection actions than many other entities. Tax debts could lead to wage garnishment or government...

Individuals and businesses often seek creative solutions to alleviate their financial burden when dealing with tax obligations. One such option is the offer in compromise (OIC), a program administered by the Internal Revenue Service (IRS). An offer in compromise is a...

Seeing a letter from the IRS is frightening. Many people set them aside without fully reading or understanding them, sometimes out of anxiety that isn’t easily managed. However, ignoring a notice from the IRS can be a major mistake. People familiar with the most...

Running a successful business is incredibly expensive. Thankfully, the Internal Revenue Service (IRS) does allow business owners to deduct certain expenses from their company's gross income when preparing an income tax return. Business owners can use deductions for...

Navigating the labyrinth of U.S. tax laws and regulations can be daunting, partially because the risk of being subjected to an IRS audit looms large for many taxpayers. While the IRS audits only a small percentage of tax returns, certain red flags may increase the...

The mere thought of a tax audit by the Internal Revenue Service (IRS) can evoke feelings of anxiety and uncertainty, even for the most conscientious taxpayers. These audits involve thoroughly examining a taxpayer's financial records and tax returns, and they can be a...

Running afoul of the Internal Revenue Service (IRS) is anathema to most business owners. The government can be quite ruthless when coming after companies for their money. In fact, simply being late on these payroll tax payments can incur financial penalties. But stuff...

Being audited by the Internal Revenue Service (IRS) can feel overwhelming. However, you may not need to be worried, as the department may select you for an audit randomly or when your returns involve issues or transactions with other taxpayers, such as your business...

When people are facing an outstanding tax bill, they sometimes worry that they simply have no way to pay it. It’s beyond their means, and they don’t expect that they’ll ever have the money to pay what is due. They want to look into other options. They don’t want this...

Times are tough in a lot of different industries right now, and quite a few businesses are struggling with their finances – including their quarterly tax obligations. What happens if you don’t pay? Typically, the Internal Revenue Service (IRS) is not known to be...