What To Do If You Receive Form 668-W From The IRS
As a taxpayer, receiving a form from the Internal Revenue Service (IRS) can be a daunting experience, especially when it is not a form that you are familiar with. The IRS Form 668-W is one such form that can cause confusion and anxiety. This form is used to issue a wage levy or wage garnishment […]
What To Do If The IRS Freezes Your Bank Account
The IRS is one of the most powerful agencies in the United States government, and it has the power to freeze your bank account if you owe taxes. This can be a very distressing situation, but it is important to stay calm and take action to resolve the issue. In this post, we will discuss […]
Offshore Voluntary Disclosure Program (OVDP): What You Need To Know
The Offshore Voluntary Disclosure Program (OVDP) is a program administered by the Internal Revenue Service (IRS) that allows taxpayers with undisclosed foreign assets and income to come forward and disclose their tax liabilities. The program is designed to encourage taxpayers to become compliant with their U.S. tax obligations and avoid the risk of criminal prosecution […]
IRS Equitable Relief: What You Should Know
The Internal Revenue Service (IRS) offers several types of relief to taxpayers who are unable to pay their tax debts, including installment agreements, offers in compromise, and hardship relief. However, for taxpayers who are facing an unjust or inequitable situation, the IRS also offers equitable relief. This relief is designed to help taxpayers who are […]
IRS Accuracy-Related Penalty: What To Know
The Internal Revenue Service (IRS) is the federal agency responsible for administering the United States tax laws. The agency is tasked with ensuring taxpayers comply with the tax laws and accurately report their income and deductions. However, in some cases, taxpayers may make errors or omissions on their tax returns that can trigger IRS penalties. […]
How To Respond To The IRS Letter CP2000
The IRS CP2000 notice is a notification sent to taxpayers when their tax returns do not match the income and tax payments reported by their employers or financial institutions. The notice provides detailed information about the discrepancies found by the IRS and gives taxpayers an opportunity to respond with additional information or corrections. In this […]
How Long Does An IRS Tax Audit Take?
As a taxpayer, one of the most daunting experiences is being audited by the Internal Revenue Service (IRS). The thought of an IRS audit can be stressful and time-consuming and may result in additional tax liabilities, penalties, and interest. One question that many taxpayers have is how long does an IRS tax audit take? In […]
Haven’t Filed Taxes In 5 Years? Here’s What To Do
Failing to file taxes for multiple years can lead to serious consequences such as penalties, interest charges, and even legal action by the IRS. If you haven’t filed taxes in 5 years or more, it’s important to take action and get back into compliance with the IRS. Here’s what you need to know: Assess Your […]
Can You Get A Passport If You Owe Taxes?
Wondering, “Can I get a passport if I owe taxes?” A passport is an essential document for international travel. It allows you to enter and leave foreign countries, and it serves as a form of identification. In this post, we’ll look into the issue of passport eligibility for tax debtors and if you can get […]
Can Bankruptcy Stop Wage Garnishment?
Wage garnishment can be a significant financial burden for individuals who are already struggling to make ends meet. Fortunately, bankruptcy may be able to provide relief from wage garnishment. In this post, we’ll explore the question, “Can bankruptcy stop wage garnishment?” and provide a detailed explanation of how bankruptcy can help those facing wage garnishment. […]