IRS Payment Plan: How It Works & How to Apply

October 17, 2023
The IRS payment plan, often referred to as an installment agreement or a tax payment plan, is a financial arrangement designed to assist individuals and businesses in meeting their federal tax obligations over time. This option is offered by the Internal Revenue Service (IRS) to help taxpayers who may be unable to pay their tax…

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Does IRS Debt Show On Your Credit Report?

October 12, 2023
When it comes to managing your financial obligations, understanding the potential impact on your credit report is crucial. One common concern is whether IRS (Internal Revenue Service) debt, such as unpaid taxes or tax liens, can affect your credit standing. In this brief overview, we’ll explore the relationship between IRS debt and credit reports, shedding…

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State Tax Debt: What You Need To Know

October 5, 2023
What Are State Tax Debt Settlement Options? State tax debt settlement options are various programs and strategies designed to help individuals and businesses resolve their outstanding state tax liabilities. Some may believe that state tax debt is less serious than federal tax debt. This is false. If you have failed to file to pay your…

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What Are The Dangers Of Filing Your Own Taxes?

September 15, 2023
A lot of people decide to hire a tax professional to file their taxes because they worry that if they don’t, their risk of getting audited by the IRS may increase. There is another risk of filing taxes on your own that everyone should be aware of. The U.S. tax code contains credits and deductions…

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Consequences Of Tax Debt

September 15, 2023
Owing the IRS and state revenues is extremely stressful. Both the IRS and state revenues have protocols and collection activities to collect past due balances. Being aware of such consequences may inspire you to take care of your tax debt sooner than later. Here are a few consequences to expect Interest and Penalties– Interest is…

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