Thursday, February 9, 2012

From the category archives:

Tax Debt

Proposed relief for IRS interest and penalties.

by taxnick on March 7, 2009

In these difficult economic times, repaying the IRS is becoming harder than ever.  Installment agreements may be entered into in good faith, but while payments are being made, interest and penalties continue to run.  Every five years, interest and penalties double the original tax.  Most attempts to repay the IRS result in the amount owed [...]

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It is NOT Uncommon to Pay to Much Tax

by taxnick on October 24, 2008

Many people discover that too much tax has been paid when they complete the required information or tax return. For example, when you complete your personal income tax return – after taking into account the available exclusions, exemptions, deductions and credits – you may discover that more tax has been paid than what was due [...]

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Create a Plan for Paying off your Tax Debts

by taxnick on October 9, 2008

You should create a plan for how you will pay off your tax debts, if any. You also need to plan on how to protect yourself from an IRS investigation, assessment, levy, or lien. Fortunately, it is very easy to do this, but it requires patience, good judgment, the ability to talk courteously with the [...]

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