Tax Matters - The Top Tax Defenders Blog

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.

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.

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. 

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.

The IRS expects you to pay your tax bill each year. When this year's debt is more than you can pay, you might wonder how you can settle it without having a lien put on your assets or having a garnishment put on your paycheck. You can pay your tax bill quickly and realistically by following the process of setting up an installment agreement with the IRS.

The IRS is one of the most powerful organizations in the federal government. As much power as it wields, it still must afford you and every other taxpayer full due process according to the law. Learn what your rights are as a taxpayer and at what point you can use them to your benefit.

Filing your taxes could leave you with an IRS bill that you cannot afford right now. Rather than ignoring what you owe or exhausting your bank account to pay it, you may be able to settle your IRS debt through other means. These six options allow you to file your taxes even if you cannot afford to pay your taxes by the yearly April deadline.

The IRS has the obligation to go after tax debts that are owed to the government. When you are delinquent in paying your taxes, you can expect the IRS to contact you and use all legal means to settle your account.

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December is a busy month for the IRS as it gears up for the new year's tax season. Numerous important tax deadlines fall during this month and could impact your finances and the way that you can file your tax returns after the turn of the year. Set yourself up for the most advantageous tax prep season by discovering what important IRS deadlines you should meet during the month of December.