How to Avoid Tax Scams
There are several ways scammers try to con people out of their money. They especially love to prey on people during tax season. So it is important to remain alert. Here are some popular strategies scammers use. 1. Asking for credit or debit card information over the phone or via email If you owe taxes, the IRS sends a paper bill in the mail before...
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Possible IRS Challenges during the 2020 Tax Season
Acting National Taxpayer Advocate Bridget T. Roberts reported that the IRS is among the lowest-performing federal agencies in providing a positive customer experience. In her 2019 Annual Report to Congress, she noted several issues affecting the IRS in providing a positive consumer experience and outlined some of the issues taxpayers can look out for in the coming 2020 tax season. We’ve highlighted the top five...
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9 Steps to Help You Prepare to File Taxes
Prepare For Taxes in 2020 We all know that it is mandatory to pay taxes and that tax delinquency can be a costly error. You must also ensure that you pay your taxes on time to avoid penalties. Let’s look at a few things you can do to prepare for filing your taxes. – Check your pay stub for a monthly tax deduction. If you...
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What Should You Do About Back Taxes?
What are Back Taxes and What Should You Know About Them? Paying your taxes on time is very important. You’re expected to file for a specific amount of money in taxes every year. When these taxes are not paid during that year, you’re considered to be owing ‘back taxes.’ If you’re currently owing back taxes, it would be wise to clear off that debt as...
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Why It’s Important To File Your Taxes On Time?
The Importance of Filing Your Taxes Nothing beats the feeling of having your taxes filed early enough. You may opt to pay someone to do the tax returns for you. Alternatively, you can still decide to file your taxes by yourself. Regardless of the method you use, filing tax returns is probably not one of the favorite chores you look forward to. You can avoid...
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Why Paying Your Commercial Taxes Is Important
Commercial Tax Relief Every year like clockwork, the taxman appears. Then you ask yourself, why is it important to pay commercial taxes? There are many reasons why paying taxes are necessary, but most importantly, it’s the law. If you neglect to pay your fees within the stipulated period, you can face many consequences. Your Commercial Taxes Pay Salaries Paying commercial taxes is more beneficial to...
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What Happens When You Pay Your Business Taxes Late?
Why Paying Your Business Taxes Late is a Problem Are you late with paying your business taxes? Are you wondering what’s going to happen now? Paying your taxes late can lead to numerous consequences, from high fees and interest to the possibility of losing your property and even jail time. High Fees and Interest When you don’t pay your business taxes on time, fees and...
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Settle Your Commercial Tax Debt With The IRS
How To Settle Your Commercial Tax Debt Tax debt. The word “debt” alone isn’t a desirable situation for anyone to be in. The good news is that there is a chance you can settle for less than what you owe which is known as Offer in Compromise (OIC). You’ll have to contact the IRS to see if you qualify for an OIC, however this option...
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What Should You Do If You Owe Back-Taxes to The IRS?
Do You Owe The IRS Back-Taxes in Minneapolis? If you owe back-taxes to the Internal Revenue Service (IRS) and can’t pay your taxes on time, you will be liable for penalties and interest rates on what you owe. Nonetheless, do not panic. Simply still file your taxes and seek extra time to pay what you owe. To help you understand, we will illustrate what happens...
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What You Need to Know About IRS Wage Levies or Garnishments
The Truth About IRS Wage Levies & Wage Garnishment If you owe the IRS money for back taxes, the agency has the right to take funds right out of your paycheck. This is called an IRS wage levy or garnishment and is a very commonly used method for collecting back taxes. Your wages will continue being garnished until your entire tax debt is paid, including...
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