Tax Blog

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How to Appeal an IRS Audit

If you’re one of the unlucky ones facing an IRS audit and wish to appeal the IRS’s decision, the agency outlines a straightforward appeal process for you. The IRS appeals process is easier than you think, and you have an excellent chance of achieving some tax reduction.   Is an Appeal the Right Option for

IRS Tax Audits: What Are the Chances You’ll Be Audited?

With tax season over, the idea of an audit might be on your mind. In 2020, it was reported that the 2019 tax examination rate had fallen as low as .045% from 0.9% in 2014. This is mostly due to budget cuts within the IRS and fewer employees available to complete audits. Although the number

IRS Tax Liens and Selling Your House

In these post-pandemic times, selling your house is already a difficult process, but having a tax lien on your home makes it even harder. You may be wondering, how large of an affect does a tax lien have on selling my house? Before we dive into that, let’s look at what exactly a tax lien

Understanding the IRS Trust Fund Recovery Penalty and How to Get Help

By Mia Khattar   COVID 19 has had a profound impact on the lives of business owners globally. Some businesses flourished while others crumbled under the ever-increasing struggles brought forth by the pandemic. The latter case attributed to many businesses cutting their costs in ways such as, letting go of their employees or employing more

Check to IRS for all my money

How to Get an Offer in Compromise During Covid-19 Times

By Mia Khattar, guest blogger   Covid-19 has had a profound impact on the lives of all Americans for better or for worse. Some of us may have seen positive changes in our life such as taking up a new hobby or spending more time with family. However, despite the positives, these difficult times have

Woman noting important tax filing dates in planner

What to Know About Filing Your Taxes Late & How to Get Help

Your life is in a whirlwind right now. Not only are you juggling your job and your children’s schooling, but it’s also tax season. On top of that, if you’re reading this in Spring 2020, it’s tax season during an international health crisis. In light of the coronavirus pandemic, the Internal Revenue Service (IRS) has

Paperwork for taxes

Understanding the Difference Between Tax Liens and Tax Levies

You either forgot to pay your federal income tax debt or you refused to pay your debt. Either way, now you’re in hot water with the IRS. And you can’t stop panicking. The reality is, it is within the legal rights of the United States government to collect your owed tax amount via two extraordinary

Covid19 IRS response and its tax effects

IRS’ Response to COVID-19: What Taxpayers Need to Know

The COVID-19 virus continues to spread across the world. Every affected country has implemented measures to not only curb the spread of the virus but to also mitigate the economic impact of the pandemic. The United States government has held regular press conferences over the past several weeks, updating the American people about the latest

audit by the IRS image

Getting Audited by the IRS? What to Do Next

You’ve received correspondence from the Internal Revenue Service (IRS) stating that you’ve been selected for a tax audit. Lucky you. Suddenly, your palms begin to sweat. You feel a knot in your stomach. And you wonder why you couldn’t be as lucky with the Powerball as you have managed to be with Uncle Sam. Getting

tax calculator among several tax papers

Receive an IRS Summons Enforcement? Here’s What to Do

When opening any correspondence from the IRS, it’s natural to feel anxious. This is especially true when you realize you’ve received an IRS summons. How exactly do you tackle IRS summons enforcement? And what should you do if you’re confronted with a summons enforcement hearing? Here’s a look at what IRS summons enforcement entails and

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