You’ve set up an IRS payment plan, feeling relieved that your tax debt is under control. You’re making your monthly payments on time, and everything seems manageable. But life happens.  Maybe you lost your job, had an unexpected medical emergency, or faced a major financial setback. As a result, your once-affordable payments became a burden. […]

Receiving a rejection notice for your Offer in Compromise (OIC) from the IRS can be nerve-racking. But remember, there are still proactive solutions to explore for your tax debt. First, understand the situation, then take the right steps.  Why Was My OIC Rejected? According to the IRS Delinquent Collection Activities Report, approximately 63.5% of OICs […]

Are you familiar with that sinking feeling when tax season approaches, and you find yourself unprepared financially? Many individuals face the stress of tax debts, penalties, or unexpected liabilities, wondering how they can regain control of their finances. If you’ve ever found yourself in this situation, you are not alone. The good news is that […]

Purchasing a home is one of life’s most significant milestones. But if you owe back taxes, you might wonder if homeownership is even possible. The short answer? Yes, you can buy a house if you owe taxes, but the process requires careful planning and understanding of your financial obligations. At Precision Tax Relief, we specialize […]

Why am I getting a letter from the IRS in 2025? Every year, the IRS sends millions of letters to taxpayers across the country. These letters can cover a wide range of topics, from tax refunds and payment reminders to audits and requests for additional information. However, receiving a certified letter from the IRS is […]

You can check how much you owe the IRS by using your IRS online account, calling the IRS directly, or reviewing IRS notices. Ignoring unpaid taxes can lead to penalties, liens, or levies, so it’s critical to act quickly and explore relief options if you can’t pay in full. How Do You Check Your IRS […]

Receiving a letter from the IRS can be stressful, especially if it’s about an outstanding tax balance. One such letter is IRS Notice CP71C, which serves as an annual reminder of your unpaid taxes. While it might not be a cause for immediate panic, understanding this notice and taking the appropriate steps is essential. As […]

Tax debt isn’t reported directly to credit bureaus, but it can still hurt your credit indirectly through liens, collections, and financial strain. Does the IRS Report Tax Debt? No, the IRS does not report tax debt to credit bureaus. However, unresolved debt can lead to actions that affect credit. What About Federal Tax Liens? A […]

Owing the IRS more than $50,000 can lead to significant financial challenges, but understanding the potential consequences and available solutions can help you negotiate the situation effectively. The Growing Cost of Unpaid Tax Debt Unpaid tax debt accrues interest and penalties, causing the amount owed to increase quickly. That’s why the longer you wait to […]

Unpaid tax debts or unfiled tax returns can quickly turn into a nightmare. And you may face more penalties, interest, wage garnishments, or bank levies. To resolve your crisis, you should take action as soon as possible. Otherwise, your options will diminish with each passing day. What are you planning to do? Hire a tax […]