Tax Matters - The Top Tax Defenders Blog

There are several reasons people decide to file for bankruptcy, but how does that impact your taxes? Let’s find out.

When you are in debt to the IRS, any payment is one too many. Unfortunately, it’s pay-to-play. If you can't pay your taxes in full and on time or enroll in an installment agreement, you are left with few tools to help you reduce your tax burden.

In a perfect world, everyone could pay their taxes in full and on time. Oh, who are we kidding? In a perfect world, there would be no taxes! 

Oh, no! It’s a letter from the IRS talking about an audit — hide!

The US tax system runs on the concept of voluntary compliance. You volunteer to pay your taxes in full and on time, and Uncle Sam won’t come and make you.

Do you owe back taxes? You have options for tax debt settlement that can help you get straight with the IRS. It’s no fun getting letters from the federal government that show your tax debt rising with every month that goes by.

If you pay people to work for you, you are required to collect and pay payroll taxes. The IRS receives 70% of its annual revenue from payroll taxes, but 18% of the tax gap is due to unpaid or unreported payroll taxes. This tends to upset the IRS. 

If you somehow missed all the pop-up ads, TV commercials, and people dressed up in character costumes in front of tax preparation offices, Tax Day was April 18th. Individual taxes were due then, but if the date slipped by without you noticing, you are now late on your taxes.

Sigh! Another Tax Day has come and gone. We hope you at least filed or asked for an extension on time. But what's this? You can't make your IRS payment? 

Uh oh. Did you wait until the last minute to do your taxes again? That’s OK. We’ve got you. Just in time, here are some last-minute tax tips for 2022.