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Difference Between Tax Fraud and Tax Evasion

Understanding the Difference Between Tax Fraud and Tax Evasion

Sometimes, it can feel like the difficulties with filing your taxes are never-ending, especially for small business owners and those with multiple tax documents to sort through. When filing your taxes, it is easy to feel overwhelmed or concerned that something might slip through the cracks. When this happens, you may begin to wonder if […]
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Can Bankruptcy Stop an IRS Levy?

Can Bankruptcy Stop IRS Levy?

If you’re struggling with tax debt, you may be asking yourself, “Can bankruptcy stop IRS levy?”  Well, there isn’t a straightforward answer to that question. It all depends on the type of tax debt you have and the stage of collection the IRS is in. If you owe back taxes, the IRS may try to […]
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who is eligible for tax forgiveness

Who Is Eligible for Tax Forgiveness?

Four in ten Americans are struggling financially, and if you find yourself in the same situation, you might find it hard to meet your tax obligations. Maybe you feel as if you’re drowning in debt, and you already owe back taxes.  Is there a debt forgiveness program you can turn to? Perhaps you’re wondering who […]
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Can the IRS Take Your Pension for Back Taxes?

Can the IRS take your pension for back taxes? Well, the answer is…maybe. While the IRS does have the authority to garnish wages and bank accounts to collect on unpaid taxes, there are some restrictions.  So, what are the restrictions? Do you have to worry about the Internal Revenue Service taking your retirement funds? In […]
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IRS Payment Plan Default. What Happens Next

You Have an IRS Payment Plan Default. What Happens Next?

About 18% of all IRS payment plans default each year. The long-term consequences of defaulting on an IRS payment plan may impact your borrowing power and credit standing for many years down the road. Getting sideways with Uncle Sam is never a good thing. So, why let it happen? There is never a good time […]
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Be careful when choosing a tax preparer this year

Be careful when choosing a tax preparer this year

There are millions of “tax preparers” out there every year who prepare tax returns for Americans who need help with their taxes. However, not all tax preparers are created equal. You may be surprised to hear that some paid tax preparers are not required to have any special license(s).  Nor are they required to have […]
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Important tips about the Gig Economy

Important tips about the Gig Economy

What is the Gig economy? The Gig economy is basically is a new way of earning income that has evolved over the last few years. It involves earning income sporadically, off and on, as opposed to a “steady” job where one gets a check every payday, and it is expected, and people plan on getting […]
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What taxpayers must know about the Home Office Deduction

The Home Office Deduction allows certain taxpayers who qualify to deduct certain home expenses on their tax returns. More people than ever are working from home, and they may be wondering if they qualify to take these home-office deductions when they file their income tax returns for 2020 next year. Here is some especially important information to keep in […]
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