How Should Tax Records Be Kept? The Answers Are Surprising
How long to keep your tax records around is a common question with no simple answer, however to avoid being on the hook for serious tax debts accurate long-term record keeping may be required.
A general guideline is tax records should be kept for a minimum of 3 years if you... ...read full post
Don’t Have to Pay Taxes Claims: False and Dangerous Frivolous Tax Returns Explained
It is imperative individuals are well informed when making decisions based on their tax returns. They should be careful of who they accept tax advice from and especially who they let prepare their tax returns. Frivolous errors can either be misguided or an intentional act to ... ...read full post
The Taxpayer Bill of Rights
Many taxpayers are under the assumption that there is little they can do if they have a disagreement with the IRS. The good news is that this is simply not true. While all taxpayers have the expectation to pay the tax they owe in a timely fashion,... ...read full post
Tax Liens Can Signal Further Action From The IRS Is On The Way - Resolve The Issue Before The Problems Get Worse
Every individual and business that earns income has to pay taxes on that income. However, there are many circumstances when a person or business cannot make the tax payments. When a taxpayer cannot make the payments and falls behind on paying his or her tax obligation, the... ...read full post
What is the Fresh Start Initiative and How Can I Qualify?
Struggling taxpayers may get some help from the Fresh Start Initiative that the Internal Revenue Service put into place in 2012. Qualified taxpayers can avoid the Failure to File penalty imposed by the IRS. The penalty is in addition to accrued interest on unpaid tax balances.... ...read full post