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Can the IRS pursue me as an individual for my business’s tax debt?

Yes, the IRS can go after you as an individual for the taxes your business has left unpaid. This applies especially in cases of small business that are run by their owners as independent contractors or sole proprietorships, but it can also apply to the legally responsible individuals behind registered corporations, S corporations and LLCs. IfContinue reading “Can the IRS pursue me as an individual for my business’s tax debt?”

Does the IRS Forgive Tax Debt After 10 Years?

Is unpaid tax debt stressing you out? Life happens, and unfortunately, financial troubles can occur. If you have an outstanding tax debt, there are things you should know. It would help if you understood the potential penalties and what to expect. Continue reading to learn more on tax debt forgiveness after ten years. Tax DebtContinue reading “Does the IRS Forgive Tax Debt After 10 Years?”

Marriage and Tax Debt: Who Owes the IRS?

Marriage is the ultimate way to legally bind two lives together. That can be beneficial, but when it comes to tax debt it may make things complicated.  When it comes to marriage, tax debt may be a confusing process to navigate through. According to the IRS, any couple that files a joint tax return is jointlyContinue reading “Marriage and Tax Debt: Who Owes the IRS?”

Tax Debt Myths Debunked

Roughly a sixth of the tax money the government has the right to collect goes unpaid. Both individuals and corporations carry a significant amount of tax debt. Tax debt can cause massive amounts of stress for debtors, especially with numerous half-truths and untruths floating around about the topic. Today, we’ll look at some of theContinue reading “Tax Debt Myths Debunked”

Resolving Tax Debt As an Essential Worker

The first wave of stay-at-home orders has now been released in response to the Covid-19 situation. Local governments asked residents of cities to stay in their homes and away from businesses. State officials then came to the conclusion that some federal guidelines would be helpful to try and stop any overlapping jurisdictions. Forty Two statesContinue reading “Resolving Tax Debt As an Essential Worker”

7 Ways that a Tax Relief Company Could Help you with your Debt

The IRS can be intimidating to say the least, but at the end of the day, having a good tax relief company working with you can really help you to navigate the process. If you want to find out more then simply take a look below.   Protection of your Assets and Income   IfContinue reading “7 Ways that a Tax Relief Company Could Help you with your Debt”

When Can Individual Taxpayer Identification Numbers (ITIN) be used as Social Security Numbers (SSN)

The ITIN doesn’t give you the right to live or even work in the US, but it is very useful for various other reasons. A lot of people who are born in the US, are given a Social Security Number. This is otherwise known as an SSN. This essentially allows for money to be takenContinue reading “When Can Individual Taxpayer Identification Numbers (ITIN) be used as Social Security Numbers (SSN)”

Everything You Need to know about your Individual Taxpayer Identification Number (ITIN) and Home Buying

Buying a home is something that a lot of people strive for. In the US, it’s more than possible for you to buy a home even if you do not have a social security number. If you are a foreign national but you are not eligible for your own security number, then it may beContinue reading “Everything You Need to know about your Individual Taxpayer Identification Number (ITIN) and Home Buying”

Can an Offer In Compromise Stop Levies And Collections?

If you are very behind in your personal taxes, then a tax settlement may be an option. In some cases though, it may be that an offer in compromise can give you a much faster resolution. It can also reduce the amount that you may need to pay. Before you go ahead and submit anContinue reading “Can an Offer In Compromise Stop Levies And Collections?”

Offer In Compromise VS Installment Agreements and Bankruptcy

If you know that you are in a substantial amount of debt, then you should know that there are numerous options available. If you want to find out more, take a look below. Offer in Compromise VS Installment Agreements If you are torn between choosing an offer in compromise or an installment agreement, then youContinue reading “Offer In Compromise VS Installment Agreements and Bankruptcy”