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6 Common Offer in Compromise Mistakes to Avoid

By Top Tax Staff

While the IRS expects you to pay what you owe the federal government each year, it understands you may not have the means to do so. Rather than default on your tax obligation, you could settle your account reasonably by making an Offer in Compromise. You can ensure that the IRS accepts your proposal by avoiding these six common OIC mistakes.

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Can Unpaid Taxes Stop You From Getting a Home?

By Top Tax Staff

With the resurgence of the housing market, more people are finding it easier to buy new homes. Even so, you may hesitate to submit a mortgage application because you still owe the IRS a tax debt. Discover how unpaid taxes can impact your ability to buy a home and how lenders regard IRS debts when considering new mortgage applications.

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The Difference Between Tax Liens and Levies

By Top Tax Staff

The IRS has a legal right to use extraordinary means to collect money owed to the federal government. When you forget or simply choose not to pay your tax debt, you expose yourself to these collection activities that could compromise your financial security. 

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Tips for Preparing Now for the 2018 Tax Season

By Top Tax Staff

The tax filing season creeps up on millions of taxpayers each year. As the rush of the holidays comes to an end, you have just a few weeks to spare before the new year's tax season officially gets underway. Rather than be caught off guard during this all important time of year, you can use these tips to start preparing now for the upcoming 2018 tax filing season.

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Holiday Tax Dedutions You Should Know

By Top Tax Staff

The holiday season is the time for giving to friends, family members, loved ones, and others. However, it can also be the ideal time to take advantage of last minute tax deductions that could lower what you owe the IRS next year. Give yourself the gift of lower taxes by learning how to utilize holiday tax deductions to your benefit before the end of the year.

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The Basics of the New IRS Virtual Appeal

By Top Tax Staff

It is a common misconception among American taxpayers that the offices within federal government works at a snail's pace. In fact, the IRS has recently taken the lead in timeliness and efficiency with its new virtual appeal. 

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Understanding the Tax Implications of Donations

By Top Tax Staff

Charities throughout the country rely on donations from the public for their sustenance. If you have hesitated to give to charity in the past, you may be convinced to start when you realize that your donations could be tax deductible. Before you decide to what charities to give, you may want to learn first under what circumstances you can include donations on your tax returns.

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Audit Risks for Retirees

By Top Tax Staff

Depending on your financial and earning situation after you retire, you may have to continue filing taxes each year. The fact that you are retired does not mean that the IRS cannot or will not audit you. You could find yourself subject to an IRS audit if you include these missteps on your tax returns. 

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The Uber Drivers Guide to Taxes

By Top Tax Staff

Ride share companies like Uber are becoming increasingly popular in cities throughout the U.S. Along with providing the public with invaluable transportation services, these companies also allow people to earn lucrative incomes as drivers. 

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What Do You Need to Do if You Change Tax Brackets?

By Top Tax Staff

Climbing the corporate ladder and earning more money are generally viewed as advantageous practices in today's business world. Most people want to earn higher salaries and bring home more money as they are promoted.  
 
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