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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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When Will Your Tax Case Get an IRS Revenue Officer?

By Top Tax Staff

The Internal Revenue Service (IRS) will assign revenue officers (ROs) to check on tax cases that deviate from the norm. It is a revenue officer’s job to assess a case and collect back taxes from businesses and individuals with cases that are out of the ordinary, such as those who owe more than $100,000. An RO is the person most likely to garnish your wages or levy your bank accounts. If the IRS assigns a revenue officer to your case, it means your tax situation is serious. Here’s what to know about when IRS revenue officer involvement might occur and how to fight back.

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What to Expect When Being Contacted by the IRS

By Top Tax Staff

How and When the IRS Communicates with Taxpayers

Getting a letter or a phone call from the IRS could put you in a state of panic. You might wonder what is wrong with your taxes and if you are about to go to jail. You can make any communication with the IRS easier and less stressful by knowing how and when this government bureau will contact you about your tax returns.

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Protecting Yourself from Medical Tax Fraud

By Top Tax Staff

Thanks to public awareness campaigns, many people today are careful with their personal identity information. They are cautious about to whom and when they give out sensitive details like their addresses, dates of birth, and full legal names. 

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5 Things You'll Love About Working with a Tax Resolution Firm

By Top Tax Staff

 

Millions of people each year struggle to pay what they owe to the IRS. Estimates say that at least one person out of six in the U.S. either owe the IRS money or are facing other tax crises like failing to file tax returns. When you count yourself as one of these statistics, you can deal with your IRS tax issues and enjoy the numerous benefits that come with hiring a tax professional to help you.

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Can Filing for Financial Hardship Stop a Wage Garnishment?

By Top Tax Staff

When you borrow money from the federal government to go to school, you are expected to pay back that loan with interest after you graduate. You cannot ignore your obligation to repay your student loans. 

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