[Editor's Note: This article has been updated for 2026.]
An IRS audit is one of the most stressful letters a taxpayer can receive. But most audits today look very different from the intensive, in-person investigations people imagine. In 2025, 81% of audits were conducted through the mail, while 19% were done in person. Knowing what's actually likely to happen (and what your rights are) takes most of the fear out of the process. Here are answers to the questions we hear most often.
[Editor's Note: This article was published in August 2023, but has been updated in August 2026 for accuracy and comprehensiveness.]
As the cost of higher education continues to rise, student loans have become a reality for millions of individuals pursuing their academic dreams. While managing student loan debt can be challenging, there is a silver lining for borrowers: potential tax deductions that can provide some relief.
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The IRS just made one of the most taxpayer-friendly changes in decades. Under the new Automatic Exemption from Penalty (AEP) program, the IRS will automatically waive certain failure-to-file, failure-to-pay, and failure-to-deposit penalties for taxpayers with a clean three-year compliance history, no phone call, no letter, no request required.
[Editor's Note: This article was originally published in November 2011 but has been updated for accuracy and comprehensiveness in 2026.]
If you owe back taxes and have been carrying that weight for years, maybe even a decade, you've probably asked yourself: Can the IRS collect forever? The short and encouraging answer is no. Federal law sets a clear deadline on how long the IRS can pursue you for unpaid taxes. But as with most things involving the IRS, the details matter enormously.
Realizing you owe taxes (especially right after Tax Day) can feel overwhelming. For many people, the instinct is to avoid the problem, wait until there’s more money available, or hope it won’t escalate quickly.
Unfortunately, the IRS doesn’t work that way.
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If you owe back taxes and can’t pay, file on time, pay what you can, stay current on this year's taxes and explore IRS options like installment agreements or an Offer in Compromise to avoid penalties and collection actions.
Every year, taxpayers face the same question: should you file your taxes as soon as possible, or is it smarter to wait until closer to the deadline? The short answer is that filing early is best for most people, but waiting can make sense if your income is complex, documents aren’t complete, or you need extra time to plan strategically. Ultimately, the key isn’t speed. It’s accuracy, timing, and managing risk.
[Editor's Note: This article was originally published in February 2014 but has been updated for accuracy and comprehensiveness.]
If your tax refund was lower than expected (or you ended up owing the IRS) you may not be withholding the right amount of federal tax from your paycheck. On the other hand, if your refund was unusually large, you could be having too much tax withheld, reducing your take-home pay throughout the year.
Owing taxes to the IRS can be stressful...especially when the balance is substantial and interest and penalties are adding up. Fortunately, the IRS offers options that make it easier for qualified taxpayers to manage or resolve tax debt without digging deeper into financial hardship.
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Audit representation is professional assistance provided by a tax expert to guide you through an IRS audit. Hiring an experienced representative can save time, reduce stress, and help you navigate complex tax laws to protect your finances.
