Blog
Unpaid payroll taxes can create serious financial consequences for business owners, corporate officers, and anyone responsible for handling a company’s payroll. When a business fails to turn over taxes withheld from employees’ paychecks, the IRS may pursue certain individuals personally through the Trust Fund Recovery Penalty (TFRP). This means that even though the taxes were […]
An Offer in Compromise can be a powerful tool for resolving IRS tax debt, but not everyone qualifies. Before submitting an offer, it is important to understand whether the IRS is likely to accept it. Filing an offer that has little chance of success can lead to delays, added costs, and valuable time lost pursuing […]
Many taxpayers treat a federal tax lien notice as something they can deal with later. In reality, it is often the point where IRS collection actions begin to escalate. Wage garnishments and bank levies can follow shortly after if the situation is not handled correctly. If you receive a notice of federal tax lien and […]
Many taxpayers believe filing an Offer in Compromise will buy them time. In reality, filing the wrong offer can extend the IRS statute of limitations and increase the likelihood that the IRS ultimately collects the debt. If the IRS believes you are submitting an Offer in Compromise simply to delay collection action, they will summarily […]
If you owe the IRS, the best time to act is before a Notice of Federal Tax Lien is filed. Once a lien is filed, it becomes much harder to get it removed, and appeals rarely succeed after the fact. That timing matters because a federal tax lien can affect your ability to borrow, your […]
Receiving a Notice and Demand for Payment from the IRS means the clock is already ticking. You may have only 10 to 21 days before serious consequences begin. Most people assume they have more time. They don’t. Once the IRS assesses what you owe and sends that first demand letter, a federal tax lien automatically […]
Owing the IRS is stressful enough. But if your mortgage is higher than what the IRS allows, that stress can quickly turn into a financial nightmare. For example, in places like Fairfax County, Virginia, where a mortgage plus utilities might cost $4,000 or $5,000 a month, the IRS will only allow about $3,000 for housing, […]
Imagine you’re 80 years old, retired, and suddenly facing the terrifying reality that the IRS is coming for your home. That’s exactly what happened to one of our clients. In his 80s and living off retirement savings, he suddenly found himself buried in $1.6 million of IRS debt. The government was ready to take everything, […]
Federal employees across the country are facing more than just uncertainty, they’re facing job loss. With mass layoffs underway, a less obvious but very real threat is putting thousands more at risk: unfiled tax returns. Under the current administration, job cuts are happening rapidly, and many employees are caught in the middle of unclear or […]
If you owe back taxes, the IRS can take your home. They don’t need your permission. They don’t need to negotiate. All it takes is a final notice, and they can seize your property and sell it for far less than market value. In the past six months, this has been happening at an alarming […]
