All taxpayers know how complicated it is to file taxes correctly, especially if you are a business owner or have multiple sources of income. One mistake can lead to grave consequences, and if you’re not careful, you could end up owing more taxes than you can pay. The...
IRS Tax Debt
Can you inherit tax debt from a loved one?
Yes, inheriting tax debt from a family member or loved one is possible. However, you generally do not have to shoulder the financial stress of paying off a huge tax debt out of your own pocket. Inherited tax debt often becomes a genuine concern only if the amount is...
Owing $50k in tax could mean trouble
A healthy relationship with the Internal Revenue Service (IRS) is crucial for any business, and one of the best ways to do this is through tax compliance. However, even a minor misstep can lead to a significant tax burden, and the next thing you know, you owe the IRS...
Are you worried about the tax debt you owe to the IRS?
Many people in Georgia and beyond fear the Internal Revenue Service (IRS), and with good reason. Since the agency has authority to collect taxes, people worry about the potential penalties involved for not staying updated on their federal taxes or for failing an audit...
Resolving an unpaid taxes problem
It’s the time of year when many Georgia residents are waiting for their 1099 forms to come in the mail so they can prepare their tax documents for the Internal Revenue Service (IRS). For some people, the process of filing tax returns is quite basic and simple. Others...
What should I do if I owe the IRS for multiple years of tax debt?
The U.S. tax system is a pay as you go system. Those who have an employer will notice that taxes are taken out of their paychecks. The Internal Revenue Service (IRS) expects those who own their own business or work as contractors to make payments as well, generally on...
Didn’t pay a tax bill? Four tools the IRS can use to get payment.
There is little that causes a wave of anxiety in quite the same way as the mention of the Internal Revenue Service (IRS). The title of this post alone may have caused you to take a breath before diving into this content. This federal agency has built a reputation for...
What should you do if the IRS says you owe them money?
Let’s be real: Taxes aren’t always the easiest to manage when you run a small business. Despite your best intentions, you may still end up frustrated and upset because you found a surprising letter in the mail saying you owe money for taxes. Avoiding tax payments may...
What to do if you owe the IRS money and can’t pay
You try to file your taxes on time and probably assumed that you paid what you owed in full. However, some people make mistakes on their tax returns that can later come back to haunt them. Under-reporting your income or underpaying your taxes could result in a massive...
4 things you should know about dealing with the IRS
If you’re a business professional who has to deal with the IRS to straighten out your tax debt, it can feel intimidating. Many people worry that they’re going to go to jail or get hit with stiff fines. When that letter from the IRS arrives, it’s almost a cause for...