Tax Matters - The Top Tax Defenders Blog

Have you missed filing a couple of your past federal income tax returns? If so, you may be feeling nervous about what action the IRS may take against you. While there are potentially harsh financial consequences for not reporting your income to the IRS, you can easily clear up any unfiled tax returns by preparing your forms and submitting them as soon as possible. If you're wondering what you can do about unfiled tax returns you may find this information helpful.

If you owe a significant amount of back taxes, you may be at risk of having your wages garnished by the IRS. Generally, wage garnishment is one of the last steps the agency takes to collect an outstanding balance due. Most taxpayers who have their wages garnished have also been subjected to an IRS levy on their other assets such as their property, automobiles or bank accounts. Whatever steps you take to remove a wage garnishment, you'll want to begin immediately since the IRS will have access to every paycheck you earn as long as the garnishment is in effect. If you're wondering what you can do to stop wage garnishments, here are a few steps that will help you rectify your tax issues.

Nobody likes to get audited by the IRS. While the prospect of an audit is bad news, the good news is that you can avoid an audit by learning about 10 common audit triggers.

If you owe a substantial amount of back taxes that you will not be able to repay to the IRS, you may consider applying for an offer in compromise. This provision allows eligible taxpayers to drastically reduce or eliminate their outstanding tax liability. Learning how to qualify for an offer in compromise can help you to make a successful request and have your offer accepted by the IRS.

Taxpayers who owe back taxes to the IRS can take advantage of an installment plan to repay their balance due. Installment plans allow individuals to set their own payment amount and payment date so that they can afford to repay their debts. To sign up for an IRS payment plan, taxpayers must complete Form 9465 "Installment Agreement Request" and submit it to the IRS. But what if you default on an IRS installment agreement? What can happen to you because of defaultng? What will the IRS do next?

If you're out of work or if you're just looking for new employment, did you know that you can write off some of your expenses on your tax return? The IRS allows you to deduct some of these relevant costs as a deduction on Schedule A. The key to claiming these expenses is finding out which job search costs you can claim and how to report them on your return. Here are a few job search tax deduction tips you can use to file your upcoming tax form.

Innocent spouse relief is a provision offered by the Internal Revenue Service to spouses who were unaware that their husbands or wives were committing tax fraud. Taxpayers who qualify for this relief may be exempt from back taxes, penalties and criminal prosecution due to the fraud of the other spouse. Qualifying for innocent spouse relief, though, can be difficult, since there are many conditions a taxpayer must meet.

As the U.S. economy continues to languish, some taxpayers who owe the IRS back taxes are facing their own financial hardships. For many, simply paying the monthly bills is a difficult task, so repaying back tax debt can be almost impossible on their current income. Unfortunately, the IRS is legally entitled to pursue payment for outstanding taxes, regardless of the current circumstances of the individual who owes the debt. If you owe back taxes and you're facing financial hardship, one of the ways you may be able to get some tax relief is to qualify for temporarily uncollectible status with IRS agents. If you qualify, the IRS will stop pursuing you for your back taxes immediately.