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If you owe a significant amount of money to the IRS in unpaid taxes, you may be considering applying for a tax debt relief plan. These plans can help you settle your tax debt for less than the full amount owed or set up a payment plan that is more manageable for your financial situation. However, timing can be crucial when it comes to applying for tax debt relief. In this blog post, we’ll discuss the best time to apply for an IRS tax debt relief plan.

When you’ve been laboring under the burden of tax debt for an extended period of time, finally receiving an IRS payment plan can feel like crossing a finish line. However, in reality, receiving that payment plan is just the beginning. You must continue to effectively manage that payment plan to ensure that you can get your debts settled and avoid future trouble with the IRS. Keep reading to learn what you need to know about being on an IRS payment plan.

The tax deadline is only about two weeks away, and many taxpayers are feeling the pressure. Whether you’re not yet prepared to file, or you simply can’t afford the tax bill you know you’re about to get, the impending tax deadline can cause a lot of stress. What can you do if you’re not ready for the tax deadline one way or the other? Can you get an extension to file your tax return? What about an extension on your payment? Are they different, or does one extension cover them both? Keep reading to find out more.

A battle with tax debt can feel never ending, and you may be wondering if there is any chance that your tax debt will ever just go away. While the odds of the IRS just wiping your tax debt clean are somewhere in the realm of zero, there is hope for getting rid of your tax debt. Keep reading to learn more about expiration dates on tax debts, and when your overdue taxes will become unenforceable to the IRS.

For workers who receive a paycheck and file a W-2, paying taxes happens automatically. The taxes you owe are withdrawn from your paycheck before you even receive the money; the only time you have to give your tax payments much thought is when you file your tax return. However, for those who have self-employment income or other income sources that are not taxed in advance, taxes need to be on your mind a bit more often. These individuals are expected to make quarterly estimated tax payments, and failure to do so can result in high tax debts that are difficult to pay off. Keep reading to learn more about quarterly estimated tax payments and how they can help you avoid unaffordable tax debt.

Nobody likes to receive that notice saying they’ve been selected for an IRS audit. Even if things work out perfectly, it’s a stressful experience and can take up even more of your time than filing your taxes did in the first place. But sometimes, an IRS audit will review that you owe even more taxes than you’ve already paid—and perhaps even more than you can afford. What do you do when you’ve already paid your taxes, only to discover that you owe more and can’t pay the additional balance? Keep reading to learn more about handling IRS audits and their results.

As February draws to a close and the tax deadline approaches, many Americans are getting their tax returns ready. This often involves calculating your estimated tax bill, whether you do it on your own or with the help of a CPA. If you calculate that final number and know in an instant that it’s more than you can afford, what should you do? Keep reading to learn some common mistakes that people make in these situations, and find out what not to do when your estimated tax bill is more than you can afford.

Tax season is officially underway, and many people are already dreading the tax deadline. This is especially true of those who have calculated their tax bill for 2022 and know that they owe more than they can afford. If you have a tax bill that you can’t afford to pay, we can help. Here’s how.

When you still owe taxes from the last time you filed your return, the prospect of filing again can feel overwhelming. Unfortunately, simply trying to avoid the problem will only make matters worse, so it’s important to be proactive about filing this year’s taxes in order to get last year’s under control. Keep reading to tips on filing your taxes if you still owe from a previous tax year.