Category Archives: Fundamentals

Top 10 IRS Audit Red Flags

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Top 10 IRS Audit Red Flags No one wants to pay more income taxes than they are required to but be careful if you do your own taxes. Attempting to cut your tax liability by getting into IRS grey areas can … Continue reading

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Tax Payments – You Have Legitimate Options

If You Don’t Have Money to Pay Your Taxes, You Have Legitimate Options If you don’t have money to pay what you owe the IRS, you have a few options to work with. Whatever you do, don’t ignore the letters from … Continue reading

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Self-Employed and Freelance Taxes

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Tax Tips for the Self-Employed: A Freelancer’s Guide to Paying Taxes If you are an employee, you get a paycheck every pay period and most likely pay little attention to your taxes until the end of the year. Your employer … Continue reading

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IRS Transcripts Monitoring and why it’s necessary.

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Why IRS Transcript monitoring is Important. IRS Transcript monitoring is a very useful tool. It’s a tool that allows us to follow what the IRS has done and may do. The IRS follows a fairly strict process or order in … Continue reading

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STOP! You Don’t Need a Tax Lawyer for Tax Debt

Tax Lawyer, Why? I don’t know why so many people think that they need a Tax Lawyer to deal with the IRS. If you have a tax “law” problem then you’ll need a Tax Lawyer but the majority of people … Continue reading

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OIC and Asset Values

Rick & Mary are working on their OIC. The question had to do with two items and the asset values they would assign to each. The first item was a coin collection. The face value of the coins was $212.00. … Continue reading

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When do I need a Lawyer for tax debt?

The IRS claims that all of their installment agreement applications are designed for the average person to complete. While that might be so, there are circumstances where using a third-party, such as a Lawyer, is necessary. The IRS Agent’s goal is … Continue reading

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Grandma’s money, gone

Don’t mingle Grandma’s Money with tax debt. A few years back I was interviewing a small business owner and his wife who owed 50k to the IRS. The business was doing well but the couple was taking too much out … Continue reading

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Is there a value in starting early to resolve a tax debt?

 Why is starting early with any type of Installment Agreement so important? The IRS doesn’t know that you have a problem until something tells them, typically a tax return and lack of payment. By starting early you already know you can’t … Continue reading

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