Tax Resolution 101

Tax Resolution 101 – Penalties and Interest

Tax Resolution 101 – Penalties and Interest

You already owe a tax debt to the IRS or State. Then they add interest and penalties on top of that? Talk about adding insult to injury. It is important to understand how interest and penalties are applied by the IRS to know how it impacts your tax debt. Interest...

Tax Resolution 101 – Installment Agreements

Tax Resolution 101 – Installment Agreements

One of the possible resolutions to your case is what is called an Installment Agreement. And it is what you think it is – the result of properly presenting your financial condition and negotiating an acceptable monthly payment [the important words in that sentence...

Tax Resolution 101 – Liens and Levies

Tax Resolution 101 – Liens and Levies

What’s a lien? What’s a levy? What’s the difference? Both a tax lien and a tax levy are collection tools used by the IRS and State to pressure taxpayers into payment or making payment arrangements. But there is an important distinction between a tax lien and a tax...

Tax Resolution 101 – Wage Garnishment

Tax Resolution 101 – Wage Garnishment

Imagine collecting your paycheck Friday at quitting time, or checking your direct deposit, and seeing the amount is half of what it should be, maybe less. If you owe back taxes, the likely reason over half your paycheck is gone is you just got hit with a wage...