The possible impact of tax debts on retirement funds
Owing back taxes to the IRS can be stressful. It is understandable to feel overwhelmed not only by owing back taxes but also by the amount of information out there about what to do about it. Paying back taxes It is critical to understand the importance of paying back taxes while at the same time […]
How the Economy and Inflation Affect Your Taxes
The tax code is complex and ever-changing. It’s challenging to keep up with the latest changes, especially when it comes to filing your taxes. Tax season brings a lot of stress for many Americans, as they scramble to meet the April deadline and figure out if they qualify for any special deductions or credits.But understanding […]
What if I Can’t Pay My Installment Agreement?
If you are unable to fully pay your tax debt, you may be able to establish a payment plan. There are two types of payment plans: Short-term payment plan: The IRS offers additional time (up to 180 days) to pay in full. It’s not a formal payment option, so there’s no application and no fee, but […]