It is one of the scariest things that can befall a taxpayer - the dreaded notice from the IRS stating you owe them more money you can’t pay. When you open the mailbox and see the return address of the tax agency staring back at you, your heart is bound to skip a beat (or two).

No one wants to be on the bad side of the IRS, yet that is where millions of taxpayers find themselves each and every year. As enforcement efforts ramp up at the IRS, the number of letters and communications landing in mailboxes is continuing to increase and one of them could land in your mailbox.

If you do receive a notice from the IRS, it is important to act fast, especially if you cannot afford to pay what the IRS says you owe. You may be tempted to do nothing or ignore the situation, but every day  you wait will just make an already bad situation that much worse.

Few things are as frightening as opening the mailbox and finding a letter from the IRS, especially when you know you owe them money. The much-feared tax agency does not contact taxpayers just to say hello and receiving communication from them is not likely to be good news.

When your heart stops pounding and you get the courage to open the letter, you get another shock - in the form of a large amount due, one you cannot possibly afford. So, what do you do, and how do you react?

Original Article Source Credits:   Investopedia , https://www.investopedia.com/

Article Written By:  Amy Fontinelle

Original Article Posted on:  May 12, 2021

Link to Original Article:  https://www.investopedia.com/financial-edge/0312/what-happens-when-you-cant-pay-your-taxes.aspx

Proper tax planning is a year-round proposition. You cannot afford to wait until April to start planning your taxes and assessing your tax liability.

Knowing which factors can raise your taxes is one of the best ways to keep more money in your pocket. These five factors can unexpectedly raise your taxes owed at the end of the year.

Original Article Source Credits: NerdWallet  , https://www.nerdwallet.com/  

Article Written By:  Alana Benson

Original Article Posted on:  May 11, 2021

Link to Original Article:  https://www.nerdwallet.com/article/taxes/withholding-tax

Original Article Source Credits:   IRS , https://www.irs.gov/

Article Written By:  NA

Original Article Posted on:  June 4, 2021

Link to Original Article:  https://www.irs.gov/newsroom/irs-sending-more-than-2-point-8-million-refunds-to-those-who-already-paid-taxes-on-2020-unemployment-compensation

Original Article Source Credits: nerdwallet., https://www.nerdwallet.com

Article Written By: Tina Orem

Original Article Posted on: Apr 13, 2021

Link to Original Article: https://www.nerdwallet.com/article/taxes/tax-deductions-tax-breaks

Original Article Source Credits: IRS, https://www.irs.gov

Article Written By: NA

Original Article Posted on: May 19, 2021

Link to Original Article: https://www.irs.gov/newsroom/heres-how-taxpayers-can-check-the-status-of-their-federal-tax-return

Original Article Source Credits: the balancesmall business, https://www.thebalancesmb.com

Article Written By: Marco Carbajo

Original Article Posted on: March 10, 2019

Link to Original Article: https://www.thebalancesmb.com/advantages-of-a-bookkeeping-service-for-your-business-4086484

Original Article Source Credits: IRS, https://www.irs.gov

Article Written By: NA

Original Article Posted on: May 24, 2021

Link to Original Article: https://www.irs.gov/newsroom/tips-for-troubleshooting-common-after-tax-day-issues

Original Article Source Credits:   Business News Daily , https://www.businessnewsdaily.com/

Article Written By:  Business News Daily Staff

Original Article Posted on:  Aug 04, 2020

Link to Original Article:  https://www.businessnewsdaily.com/4300-what-is-a-tax-audit.html

Have you received a summons from the authorities regarding unpaid or back taxes? Do you have sleepless nights, with a shiver down your spine when you hear the words Internal Revenue Service (IRS)? 

Original Article Source Credits:   Investopedia , https://www.investopedia.com/

Article Written By:   MICHELLE P. SCOTT

Original Article Posted on:  Mar 23, 2021

Link to Original Article:  https://www.investopedia.com/2021-tax-brackets-other-tax-changes-5084597

Original Article Source Credits:   Investopedia , https://www.investopedia.com/

Article Written By:   BARBARA WELTMAN

Original Article Posted on:  Mar 13, 2021

Link to Original Article:  https://www.investopedia.com/articles/personal-finance/032415/how-do-irs-audits-work.asp

Original Article Source Credits:   C Net , https://www.cnet.com/

Article Written By:  Katie Conner, Shelby Brown

Original Article Posted on:  April 10, 2021 

Link to Original Article:  https://www.cnet.com/personal-finance/taxes/irs-tax-refund-and-2020-return-how-to-track-where-they-are-now/

Original Article Source Credits:   Real Simple , https://www.realsimple.com/

Article Written By:   Kristine Gill 

Original Article Posted on:  April 01, 2021

Link to Original Article:  https://www.realsimple.com/work-life/money/money-planning/how-to-prepare-to-call-irs

A lot of our clients that come to us with back tax problems are self employed. For one reason or another, they fall behind on their taxes. With COVID-19, small businesses have been hit the hardest and despite the government stimulus bills, there are still millions of businesses teetering on the border of failure. It’s understandable that a few of them fell behind on their taxes and we’re here to help.

Being a freelancer carries a number of important benefits, from the ability to make your own hours to the freedom to work from virtually anywhere. But being your own boss also comes with some serious challenges, including how to prove your income to a skeptical mortgage lender or reporting your income accurately when filing your taxes.

Original Article Source Credits:   Forbes , https://www.forbes.com/

Article Written By:  Kelly Phillips Erb

Original Article Posted on:  Dec 22, 2020

Link to Original Article:  https://www.forbes.com/sites/kellyphillipserb/2020/12/22/irs-releases-2021-mileage-rates/?sh=48a50aa92fb0