How Realtors Can Fix Their Debt Problems With the IRS
The stress associated with a tax debt to the IRS is heavy to deal with many times. But instead of pretending time will solve it, you can be proactive and solve the problem. Don’t...
Category: IRS Debt Resolution
How A Debt With The IRS Will Affect Your Personal Finances
Carrying a federal tax liability is perilous at best. You cannot have a worse creditor chasing you. The IRS is free from the constraints that hamper creditors like your credit card supplier; they do...
How To Report Your Hidden Offshore Holdings To The IRS
Offshore tax methods have been used for decades by many wealthy Americans to conceal income and assets to reduce their tax burden. However, around 2007, the financial collapse increased concerns regarding federal budget shortfalls....
How to Apply for Penalty Abatement for Your IRS Debt
Forget about asking the IRS to remove interest charges from your account. This will never happen. Standard and mandatory interest is a fact of your financial live, and it’s a waste of time to...
IRS Offers Relief Penalties For Deferred Offshore Company Income Late Tax Payment
According to thetaxadviser.com, the IRS will provide relief from late-payment penalties. Sec. 965 Treatment of deferred foreign income upon transition to participation exemption system of taxation. Sec. 965 required some taxpayers to pay a transition tax...
Tips To Avoid Financial Statement Mistakes For Non-Profit Organizations
Anyone who has ever been through an audit season for financial statements for not-for-profit organizations know that they will see some of the same common mistakes over and over again that could be easily...
Tips To Resolve Your Tax Problems With The IRS
No one wants to find himself or herself indebt with the IRS. It’s a sticky situation that can be hard to get out of if you don’t know how to navigate the problem, and...
LLC With Foreign Owner Need Report To IRS
As far as the IRS is concerned, single member LLC’s with a foreign owner are a disregarded entity and still need to report to the IRS just like corporations do. They will also be...
Deadline Is Approaching for IRS Offshore Account Voluntary Disclosure Program OVDP
The situation is about to change radically for those with offshore accounts. For the last 10 years the Offshore Voluntary Disclosure Program (OVDP) as provided a sort of tax pardon program. That program...
If Your IRS Tax Debt is Over $51K, You May Get Your Passport Suspended
The IRS will deny your passport if you owe $51K or more. But you can apply for a reduction of your debt. Have overdue tax bills? Now the Internal Revenue Service (IRS) may deny...