Here's what taxpayers need to know about not paying taxes and the possibility of serving time.RELATED: 9 IRS Penalties You Could Be Facing After An AuditIn this article:How Does the IRS Ensure the Success of Their Collection Efforts? How Does the IRS Penalize Those Who Are Not Paying Taxes? What Options Are There for Taxpayers to Resolve Unfiled or Unpaid …Continue Reading
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Using The IRS First Time Abatement Strategically To Reduce Penalties
Incurring penalties and fees from the IRS can make paying unpaid taxes more difficult, making first time abatement a valid strategy for saving money.RELATED: 9 IRS Penalties You Could Be Facing After An Audit How to Minimize IRS Expenses Through First Time Abatement Step 1: Be Aware of IRS Penalties and Interest For abatement purposes, taxpayers can classify IRS …Continue Reading
How To Get Your Home Back After A Tax Sale
Taxpayers going through a tax sale of their houses can expect a long and oftentimes complex process, which makes knowledge of tax sale facts crucial for retaining the assets.RELATED: How To Get Rid Of An IRS Tax Lien On Your Home How to Get Back a Home After a Tax Sale Step 1: Understand First How a Tax Sale Works Tax Sale Definition: The state sells a property to …Continue Reading
What Happens If You Don’t File Your Taxes For 5 Years Or More?
Need to know what happens if you don’t file your taxes for more than 5 years? We have listed the possibilities below for you.RELATED: How to Negotiate with the IRSIn this article:How Long Can You Go Without Filing a Tax Return? Can You Go to Jail for Not Filing a Tax Return? Do I Have to File My Taxes Every Year? What Happens When a Person Fails to File …Continue Reading
10 Assets That Can Be Put Under An IRS Levy
Know which of your assets may be eligible for an IRS levy by reading the list below.RELATED: What Is A Tax Levy? | Everything You Need To KnowIn this article:Work Pay Savings Account Investment Retirement Accounts Life Insurance Policies Vehicles Second and Vacation Homes Expensive Jewelry Furniture Government BenefitsA List of …Continue Reading
