Do you have a tax bill you can’t pay off? Have you been receiving notices, but ignored them because you didn’t have the money to pay? When a back tax bill is ignored, the IRS or State has the right to levy, or garnish, your wages as a means of getting payment. When this happens, they sometimes leave a taxpayer with so little to live on that they are unable to even pay for their basic housing and bills.
Read more ...The mere mention of the IRS strikes fear into the hearts of many Americans. People have nightmares that the IRS will throw them in jail for not filing or paying your taxes, or come to their home and seize their belongings. Of all debt collectors, IRS agents have a reputation of being especially nasty in their attempts to collect a tax debt.
While this reputation is not entirely unfounded, the fact of the matter is that the IRS will work with people to assist them. After all, their goal is the same as the taxpayer’s in many cases- to get things caught up and resolved.
Read more ...Another April 15 has come and gone Did you file your taxes on time?
There are many reasons people get behind on their taxes. Some anticipate a refund, and put off the chore of filing because they know they wont owe. While the IRS doesnt penalize those getting refunds for filing late, there can still be consequences.
Read more ...If you owe the IRS but have been putting off getting resolution for your past due tax debt, now is a great time to see if you may be eligible for a settlement, or Offer in Compromise. The Offer in Compromise program is where the IRS agrees to accept a smaller amount than what you owe, based on your financial situation and ability to pay.
Read more ...Another tax season has come and gone. Most people at this point are sitting back, anxiously awaiting their refund checks. For others, this time of year is just a stressful reminder that they are now one more year delinquent with unfiled returns.
There are a variety of reasons why people stop filing. Often time it’s because they know they’ll owe, and don’t have the money to pay. Other times, something as simple as a missing document can lead someone not to file; then the following year they falsely believe they cannot file the current year without filing the prior year, so they get further behind. Other folks simply find doing their taxes to be a headache, and put it off for that reason.
Read more ...According to a recent article in the Washington Post, right now could be the best time in recent history to resolve your past due IRS tax bill. The IRS has recently announced changes to their collections guidelines, in an acknowledgment of the fact that many taxpayers are struggling in the current economy.
Read more ...Lothamer has seen an especially tough year for our clients, whose challenging circumstances are sometimes hard to imagine. We admire their strength and courage as they come together with us to tackle difficult personal and financial issues, and we are proud to work as a team with our clients to help them put those issues behind them.
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