What Is The Difference Between Tax Levies and Tax Liens

If you don't pay or settle your federal or state tax debt, the IRS and state taxing authorities can levy, seize and sell any type of real or personal property that you own or have an interest in. Taxpayers often interchangeably refer to levies as liens or vice versa not realizing these are two totally different terms. Tax Liens…

IRS and State Tax Compliance

The Internal Revenue Service (IRS) and all state taxing authorities expect taxpayers to be “compliant” and to know what compliance means. But what does “compliant” mean? Compliance can be defined as filing all required returns and or extensions on time AND paying all taxes due on time. To be sure, there are consequences of non-compliance.…

Penalties for Not Filing Your Tax Return

Let’s be honest—filing your taxes is a real pain in the… pocketbook. There are countless reasons that you might have failed to file your tax return. One, life got in the way and you just lost track of time. Two, you didn’t have the money to pay the filing fee. Three, you were worried about…

What to Do When You Owe the IRS Money

Three Ways to Get a Tax Lien Released

When you don’t pay your tax bill, the IRS or state can come after you to get their money. They will use whatever means necessary to get you to pay up, and they have a few different methods. They may send threatening letters, they can garnish your wages and bank accounts, and they can place…

How to Deal with Mistakes on Your Tax Return

How to Deal with Mistakes on Your Tax Return

People make mistakes all the time on their tax returns—it happens. Maybe you already sent off that return, but completely forgot to include income from a side job you did. Perhaps you forgot to claim a dependent, or weren’t aware of certain deductions you qualify for. Whatever the mistake may be, there are ways to…