A Bank Account Freeze? What Do I Do?

By Top Tax Staff

Have you received an IRS notice of levy on your bank account? That’s another name for an IRS bank account freeze or seizure. It happens when you don’t pay your tax debt.

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Answering Common Questions about Tax Liens

By Top Tax Staff

Some people may be getting more attention than usual from the IRS this year. If you had trouble scraping up enough to pay your taxes in full, you might have heard from the federal government already.

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Natural Disaster Tax Relief - Do You Qualify?

By Top Tax Staff

Don’t you think we should all get natural disaster relief after the year we’ve had? If you made it through 2020, you deserve it. Just label the whole year a disaster and give everyone the tax year off.

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Uh Oh, Did You Miss the Tax Extension Deadline? Here's What to Do Now

By Top Tax Staff

You could be forgiven for missing your tax extension deadline. After all, it's 2020. You could be, but unfortunately, you won't. The IRS wants your return and your tax payment. They waited three extra months, and now they want Uncle Sam's cut.

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What Happens If You Owe More Taxes Than You Can Pay?

By Top Tax Staff

what happens if you cant file your taxes

That number on the line for taxes owed looks awfully big. It looks like more than you feel like you can pay right now. Should you panic?

No, no, you should not.

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Filing Your Taxes: How Late Is Too Late?

By Top Tax Staff

Did you, by chance, forget to file your taxes…say for the last ten years? Or maybe just this year; after all, everything’s been such a mess.

But how late is too late to file? The short answer is never. You can always file late. You just have to understand that it won’t be the same as if you filed on time.

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Am I Eligible for Tax Abatement?

By Top Tax Staff

Property taxes are a significant portion of the cost of owning real estate, usually one percent to three percent of the home’s value to be paid annually. Since property taxes are permanent, anything that can reduce your tax liability will probably perk your ears right up. So, get your ears ready to perk, because the tax reduction term for today is tax abatement.

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Do You Qualify for a Vehicle Sales Tax Deduction?

By Top Tax Staff

It’s always a good feeling when you can lower your tax burden. One way that may be open to you is through a vehicle sales tax credit. Since a car, boat, or other vehicle is a significant expense, the amount of tax credit could potentially erase your tax payment.

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5 Examples of Tax Evasion

By Top Tax Staff

One of the easiest ways to get in trouble with the IRS is by committing tax evasion. Just the words - Tax Evasion - sound like they should be accompanied by those tonal beats from Law and Order. 

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Can I Get a Refund If I Owe Back Taxes?

By Top Tax Staff

Can you get a refund if you owe back taxes? The simple answer is … maybe. As in, it depends on whether you owe less in tax debt than you have coming to you as a refund. There are several reasons the IRS might hold up your refund or seize it to pay for other debt.

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