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Rod's Blog

How to Lower the Taxes You Owe Before the End of the Year

Posted by Cailey Taylor on Dec 9, 2018 10:00:00 AM

The end of the year is usually the busiest time for taxpayers. You’re usually trying to get everything wrapped up and finished before the new year begins. One thing you should put on your list for the end of the year is to start calculating your taxes and if you will owe taxes when you file. If you find out you are going to owe taxes, there are some steps you can take to lower your tax liability. Tax planning is an important part of keeping your financials in line and can help you stay on track and make filing your tax return easier.

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Tags: Taxes, IRS Tax Lien, Tax Lien, Tax Levy, Sales Tax, Tax Court, Identity Theft, Tax Cuts and Jobs Act, tax extension, Audit, Tax Deductions, Tax Return, audit help, levy, Tax Help, Tax Law, CDP, Tax Scams, Liens, Wedding, Tax

What Is Tax Law?

Posted by Cailey Taylor on Dec 3, 2018 8:30:00 AM

There’s two guarantees in life; death and taxes. Taxes help pay for schools, your roads, your police and fire department and other things you use every day. Depending on where you live, you can pay income tax, sales tax, property tax, capital gains tax, inheritance tax or even estate tax. Every year millions of taxpayers file their federal tax return and pay their taxes. But for thousands of others, they either don’t file their federal tax return, or they don’t pay the taxes they owe. This can be for several reasons, either they don’t have the money to pay, they forget, or they don’t know how to file their tax return. Not filing your tax return and not paying the federal taxes you owe, can create a large tax debt and make you put into collections with the IRS. This can lead to IRS garnishments such as a bank account levy, a wage garnishment, Social Security garnishment or lien. Here’s what you need to know about tax law and how it affects you.

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Tags: IRS Tax Lien, Tax Lien, Tax Levy, Sales Tax, Tax Court, Liens, Identity Theft, Tax Cuts and Jobs Act, Tax Help, tax extension, audit help, Tax Deductions, Audit, levy, Tax Law, CDP, Tax Scams, Tax, Tax Return

Closed Case Round Up: October Edition

Posted by Cailey Taylor on Oct 29, 2018 9:00:00 AM

Check out just a few of the FANTASTIC results achieved for our clients last month! This months closed case round up features a contractor whose severe health problems led to a large tax debt, plus a client who tried to resolve their tax issues on their own and ended up coming back to us for help.

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Tags: IRS Tax Lien, Tax Lien, Tax Levy, Student Loans, Sales Tax, Tax Court, Liens, Tax Scams, CDP, Tax Cuts and Jobs Act, Tax Law, Tax Help, tax extension, levy, audit help, Audit, Tax Deductions, Tax Return, Tax

Know The Difference: Tax Levy versus a Tax Lien

Posted by Cailey Taylor on Oct 22, 2018 9:00:00 AM

There is nothing scarier than going to your mailbox and seeing a notice of the IRS’s intent to levy you. Owing taxes can be scary enough, but when you add in the stress of being levied or having a lien placed on your property, it can be too much. If you have received notices from the IRS or you have been talking about possible problems with your taxes, you may have come across the terms Tax Levy and Tax Lien. The two are types of collection action used by the IRS to collect on an unpaid tax debt. They have some similarities and they both have stark differences you need to be aware of.

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Tags: Tax Court, Liens, Tax Cuts and Jobs Act, CDP, Tax Help, Tax Law, tax extension, levy, Tax Return, Tax Deductions, Tax, Tax Levy, Tax Lien, IRS Tax Lien

Deadline for New Depreciation Deduction Fast Approaching

Posted by Cailey Taylor on Oct 13, 2018 10:48:00 AM

Time is running out for taxpayers looking to take a depreciation deduction on certain property they have used in 2017. Individuals and calendar-year corporations must generally file the election with the IRS by October 15th.

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Tags: Tax Court, Tax Return, Tax Deductions, Audit, audit help, levy, tax extension, Tax Help, Tax Cuts and Jobs Act, CDP, Tax Scams

What To Do If You Can't Pay Your Taxes

Posted by Cailey Taylor on Sep 24, 2018 9:30:00 AM

Do you owe more in taxes this year than you anticipated? If you are unable to pay your balance in full by the tax deadline, it can be a very stressful and scary feeling. You wonder if the IRS will seize your bank account or your home. The good news is that there are options out there for you! The IRS has different payment plans and options for taxpayers depending on your income and your financial situation. The important thing is to be proactive and trying to find a payment arrangement with the IRS as soon as possible. The IRS can penalize you if you do not pay your taxes by issuing a failure to pay penalty.

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Tags: Tax Court, Tax Scams, Tax Law, levy, Tax Deductions, Audit, Tax Return, audit help, Tax Help, Tax Cuts and Jobs Act, CDP

Collections Due Process Hearing: What Is It?

Posted by Cailey Taylor on May 15, 2018 1:27:00 PM

We often get calls and emails about the different notices taxpayers can get from the IRS. The notices can be confusing due to the different terms on the notices that the average tax payer may not understand. There are several different types of letters you can get from the IRS and each notice could be for something different and some may need immediate action while others don’t. You can learn more about the different notices here. The notice we are going to talk about today is the Collections Due Process Hearing notice.

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Tags: Tax Help, Tax Law, CDP

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