A taxpayer may have some difficulties understanding their tax transcript or tax return. Knowing the differences between the two can simplify the tax process.RELATED: Taxes Taken Out Of Paycheck: Everything You Need To Know | Internal Revenue ServiceIn this article:What Is a Tax Transcript? How About a Tax Return? Why Will a Taxpayer Look for a Tax Transcript or …Continue Reading
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What Is The IRS Automated Collection System (ACS)?
Some delinquent taxpayers opt to have the ACS collections system take care of all their tax problems. What exactly is the ACS collection system and how can a taxpayer maximize its function?RELATED: IRS Form 9465 [Can’t Pay Your Taxes All At Once? READ THIS]In this article:What Is ACS (Automated Call Services)? Who Usually Gets Assigned to the ACS? Where Can …Continue Reading
What Is The IRS Fresh Start Program For Businesses?
This IRS Fresh Start program gives a lot of delinquent taxpayers a chance to get back on their feet financially.RELATED: What To Do When You Receive A Notice Of Deficiency From The IRSIn this article:What Is the IRS Fresh Start Program? Who Can Apply for Eligibility on the Fresh Start Initiative IRS Program? When Can a Business Apply for the IRS Installment …Continue Reading
What Is Tax Abatement And How Does It Work?
Tax abatement programs significantly lift a homeowner's property tax burdens for a long period of time, so it's best to be briefed about them and how you can take advantage of what they offer.RELATED: How To Write Off Taxes On Rental Property | Rental Property Tax Write OffsIn this article:What Is Tax Abatement? How Is Tax Abatement Different from Tax Penalty …Continue Reading
Penalty Abatement: 9 Factors That Can Qualify As Reasonable Cause
Wondering what the IRS may consider as reasonable cause? We have listed 9 factors below.RELATED: How To Prepare For A Tax Audit | Worker ClassificationIn this article:Death, Serious Illness, or Any Unavoidable Absence Natural Disasters Such as Fire and Other Casualties Being Unable to Obtain Records as Reasonable Cause Erroneous Advice Received by the …Continue Reading