Tax Problems
IRS Substantial Understatement Penalty Explained by a CPA
The IRS substantial understatement penalty is the penalty described in Internal Revenue Code Section…
Can the IRS Levy a Joint Bank Account?
Yes, the IRS can levy a joint bank account, even if only one of…
How Far Back Can the IRS Go for Unfiled Taxes?
The IRS can go back an unlimited amount of time for unfiled taxes. This…
What Happens If You Owe the IRS More Than $50,000?
If you owe the IRS more than $50,000, the following nine things will happen:…
What Happens If You Owe the IRS More Than $25,000?
If you owe the IRS more than $25,000, the following eight things will happen:…
Unfiled Tax Returns: Why They’re a Problem and What to Do About Them
If you have unfiled tax returns, you probably know that you have a problem….
Can the IRS Take Money Out of Your Bank Account? Bank Levies Explained!
The IRS can take money out of your bank account if you owe it…
Haven’t Filed Taxes in 10 Years? Don’t File All of Them!
If you haven’t filed your taxes in 10 years, you may be very worried…
Tax Liens on Credit Reports: Do IRS Collections Go on Credit Reports?
If the IRS has filed a lien against you in county or state records,…
Can the IRS Garnish Social Security? What About SSDI and SSI?
Social Security benefits are one of the most protected forms of income from creditors:…
Trust Fund Recovery Penalty Explained by a CPA
If you have employees, you know — or you should know — that you are…
What Happens If You Don’t File Taxes?
Every day I talk to people who haven’t filed their taxes — sometimes for…