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?”
Tag Archives: 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￼”