Tax Matters - The Top Tax Defenders Blog

Strategies for Paying Fewer Taxes After Retirement 

After you retire, you no longer have the security of a regular paycheck to buoy your bank account during tight financial times. You must subsist on your pension, Social Security check, and money you have invested in the stock market. 

Living and working in another country does not exempt U.S. citizens from having to pay taxes. The IRS will still expect you to file your returns on time each year and pay what you owe to the government. You can avoid expensive penalties and comply with the U.S. tax codes by learning how and when to file taxes while you are living and working abroad.

The IRS does far more than collect people's taxes and send out refunds to taxpayers each year. It also pursues people who fail to file returns and pay what they owe the government. You can avoid trouble with the IRS by learning about the monetary and legal penalties for tax evasion.

The IRS expects business owners like you to file and pay your taxes each year. To help you avoid overpaying what you rightfully should owe, the IRS allows you to use loopholes to lower your tax burden. 

Despite your best intentions, you may need to push the proverbial Restart button with your connection with the IRS. Inadvertent errors, failure or inability to pay, or failure to submit your returns on time can jeopardize your taxpaying compliance and put at risk of fines and penalties.

The IRS employs a team of agents dedicated to investigating incidences of tax fraud. Once they discover these offenses, they make sure that the IRS recovers every dollar that is owed to it.

You may have every intention of filing and paying your taxes on time each year. However, at some point you may experience an issue that prevents you from being compliant with the IRS. 

Resolving a tax matter to your satisfaction can take a level of skill and finesse that you do not have. Rather than go up against the IRS alone, you need someone with experience, knowledge, and confidence handling tax disputes to help you. Protect your money and settle what you owe to the government by taking advantage of these five important benefits that come with hiring a skilled tax lawyer.

The IRS may seem like a scary government entity that wields too much power over your everyday life. In reality, taxpayers like you are given the proverbial upper hand in terms of how you can pay what you owe. When you have an outstanding IRS balance, you should keep these five important facts in mind before you decide what repayment or settlement option you want to use to resolve your federal tax debt.

Federal liens are just like any other form of defaulted financial obligation in the damage they can do to your credit rating. Unlike unpaid medical bills, credit cards, car loans, and other expenses, IRS collection efforts can vary in how long they are reported by the government and stay on your record. You can take the necessary precautions now to protect your rating and record by discovering the full impact that comes with an IRS tax lien.