Asset Seizure: What Assets Can the IRS Legally Seize to Satisfy Tax Debts?

By Top Tax Staff

When you are seriously negligent in paying your IRS tax debt, you put your income and assets at risk of being seized. The IRS uses this extraordinary step to collect on debts when taxpayers have failed after repeated warnings to pay what they owe. 

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5 Options to Resolve or Remove a Bank Levy

By Top Tax Staff

When you owe the IRS money, you put yourself at risk of having your bank account levied. A bank levy can invite financial hardship into your life and make paying everyday bills more difficult. However, you do have options for avoiding or removing an IRS bank levy

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6 Reasons to File a Federal Tax Extension

By Top Tax Staff

The IRS gives you until April 15 every year to file and submit your tax returns. Despite this generous deadline, you may find it difficult or impossible to get your taxes done on time this year. 

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When Did I Last File My Taxes?

By Top Tax Staff

The IRS expects most taxpayers to file their returns on time every year. When the tax season starts in January, you have close to four months to file and submit your returns well before the April 15 deadline. 

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Is the IRS Using Data to Find Audits?

By Top Tax Staff

Each year's tax season always brings with it the possibility of the IRS auditing your return. Even if you believe you have filed your taxes correctly and rightfully paid what you owed, you still may find your tax returns singled out for review. You can prepare yourself now for this minute but possible chance by understanding how the IRS uses data to select returns for auditing.

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IRS Transaction Codes You Need to Know

By Top Tax Staff

An Overview of IRS Transaction Codes

When you order transcripts of your tax return, you may notice a series of letters and numbers at the top. What do these letters and numbers mean and why did the IRS put them there? In most instances, the code is nothing to cause worry or alarm. You can understand your own tax transcript better by learning more about common IRS transaction codes.

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What Happens if I Haven't Filed Corporate Taxes in Years?

By Top Tax Staff

 Just like private citizens, corporations are required by federal law to file and pay their taxes. When you have fallen behind on this obligation, you may live with the constant worry about what actions the IRS can take against you to collect the back taxes you now owe the government. You can remedy your delinquent taxes today by using these tips for filing your corporate returns and settling your tax obligation with the IRS.

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Last Minute Tax Filing Tips for 2018

By Top Tax Staff

Tips for Filing Your 2017 Taxes at the Last Minute

The tax filing season is quickly winding down for this year. If you have not yet filed, you do not have to feel panicked or rush to make this year's April 17 deadline. You can submit your return confidently by using these five last-minute tax filing tips.

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Cleaning Up a Tax Mess Before You Have to File

By Top Tax Staff

Preparing to Prepare – Get Ready to File Your Taxes

Get ready for Tuesday, April 17, this year’s deadline for filing federal taxes with the Internal Revenue Service (IRS). The preparation required to put together your return can be a headache and a chore. You’ll spend time getting receipts in order and collecting tax paperwork received in the mail. Making sure you have everything needed to sit down and prepare your taxes or hand them to a professional is often just as much work as preparing the tax return. Here are some tips for getting ready to file your taxes.

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CPA vs. Tax Attorney: What's the Difference?

By Top Tax Staff

Tax season can be a difficult time for individuals and businesses. Whether this is your first year filing complex taxes or you’ve let years of tax debts add up, help is available. There are a few different options when it comes to entrusting a professional with your tax case. Two of the most popular options are certified public accountants (CPAs) and tax attorneys. Knowing which is right for you comes down to your unique needs and goals, as well as the status of your case with the Internal Revenue Service (IRS). Tax debt is no small matter. Protect yourself with the correct tax professional for your situation.

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