If you owe money to the Internal Revenue Service (IRS), you are probably looking for any possible way to resolve the matter or reduce the amount that you owe. In some situations, you may be able to request a refund or abatement of your tax debt. This can be done by filing a Form 843. […]
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Can’t Pay Your Taxes in Full? Consider Filing IRS Form 9465
For many American taxpayers, April 15 is the worst day of the year. Beyond the drudgery of filling out forms and assembling documentation, these individuals know that they will have to write a big check to the Internal Revenue Service (IRS). So what happens if you owe more in taxes than you can pay on […]
IRS Gambling Losses Audit
If you’re like many Americans, you enjoy gambling. Perhaps you hit Atlantic City or even Vegas a few times a year, having fun while winning a few bucks. But how does your gambling affect your taxes? Gambling winnings are considered taxable income, which means that you must report them as such for purposes of both […]
IRS Tax Debt Forgiveness
It can happen to anyone. Getting behind on your taxes is a far too common occurrence. Yet tax debt can often be overwhelming, threatening your financial security and making it hard to keep up with your other bills. If you owe money to the Internal Revenue Service (IRS), there are options. In some situations, the […]
FBAR Penalties
Each year, individuals in the United States who hold foreign financial accounts are required to file a Report of Foreign Bank and Financial Accounts (FBAR). A failure to file when required to do so can lead to serious penalties. This may include substantial monetary fines as well as possible criminal charges. FBAR penalties are among […]
