According to the latest TIGTA report, the Inflation Reduction Act (IRA) has funneled significant resources into the Internal Revenue Service (IRS) to strengthen its operations and enforcement efforts.  Recently, the Treasury Inspector General for Tax Administration (TIGTA) report shed light on how these funds are being allocated and used. These details are essential for taxpayers […]

You have been looking forward to your tax refund all year—the money that could help you catch up on bills, buy groceries, or pay off a small debt. Then, a letter arrives from the IRS titled “Notice of Intent to Offset.” What does this mean? What happens now? A Notice of Intent to Offset is […]

Do you owe the IRS a lot of money and they haven’t contacted you for a long time? That may be because the IRS had paused some reminder collection notices during the pandemic. In February 2022, the IRS temporarily suspended the mailing of certain automated collection reminder notices as it worked through processing backlogs. In […]

If you can’t afford your tax bill, ignoring it will only make the problem worse. The IRS charges daily interest, penalties, and can eventually garnish wages or seize assets. The good news: you have several options to manage your tax debt and protect yourself. What Happens If You Don’t Pay Your Taxes? Immediate penalties and […]

The IRS tax debt is the worst one that you can have. Because you can never run away from the citizenship responsibilities. And, never-ending IRS notices can be your nightmare. This daunting situation gets worse with garnishment or seizure possibilities. But getting a tax attorney on your side can make things easier. Their expertise can […]

When a business receives a cash payment exceeding $10,000, it is required to file Form 8300, titled “Report of Cash Payments Over $10,000 Received in a Trade or Business,” with the IRS and FinCEN. This form assists federal agencies in tracking large cash transactions to combat money laundering, tax evasion, and other illicit activities. Any […]

Let’s agree on this. No matter how much money you owe, the IRS will eventually collect your tax debt. And the total unpaid taxes will keep increasing each month until you pay.  Of course, the best thing is to pay the debt on time, but taxpayers may be unable to pay their debts for many […]

What happens if a deceased person owes taxes to the IRS? Are unpaid taxes automatically forgiven at death, or do the heirs inherit the debt? Settling IRS Tax Debt from the Estate After Death An estate is a person’s total collective property after their death. When someone with IRS tax debt dies, the debt doesn’t […]

A delinquent tax is a tax that hasn’t yet been paid to the IRS, which includes various types of federal taxes, such as income tax, payroll tax, or excise tax. Whether you’re an individual or a business, failure to file your taxes will lead to delinquent status once you have missed the filing deadline, and […]

Yes, failing to file your taxes is illegal. The IRS can impose heavy penalties, seize assets, and even pursue criminal charges for tax evasion. While not everyone is required to file a return, if you meet filing thresholds or expect a refund, you must file. Do You Have to File Taxes Every Year? Not everyone […]