IRS Penalty Abatement: An Overview
Imagine this: As if the incoming tax burden isn’t enough, the IRS imposes additional penalties, exacerbating your situation further. You’ve been juggling multiple responsibilities—work, family, and unexpected life changes—and now those missed tax deadlines are looming over you. The added penalties feel like the final blow, turning an already stressful situation into something overwhelming. But […]
IRS Installment Agreements: Viable Options for Financial Freedom
Let’s imagine a scenario: Sarah, a freelance graphic designer, is having a particularly rough tax season. She’s just finished calculating her taxes and realizes she owes the IRS $7,500. The panic sets in—how is she supposed to come up with that kind of money all at once? She starts researching her options and quickly stumbles […]
Tax Lien Appeal Resolution: How to Take Back Control of Your Finances
An additional burden is something you don’t need when struggling financially. Especially after unexpected medical expenses and job loss, there is no way you can keep up with your tax obligations. Unfortunately, your problems are compounded further by the IRS placing a tax lien on your property. If you are considering liquidating some of your […]
Reasonable Cause Penalty Abatement: Do I Qualify for One?
Tax matters are stressful. More so if you owe the IRS. What makes the problem worse is the penalties the IRS adds to what you owe. According to the IRS, they collected $104 billion in assessments during F& 2023. This staggering amount underscores many Americans’ widespread difficulties in meeting their tax responsibilities. With late filings […]