Category Archives: General

A Taxing Situation: Timely Tax Tips for Cryptocurrency Investors

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A Taxing Situation: Timely Tax Tips for Cryptocurrency Investors Until recently, cryptocurrency investors have mostly flown under the radar as far as taxes are concerned. Now those days are coming to an end, and many holders of virtual currency are … Continue reading

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Does a filing status enter into Tax Debt Resolution?

Self Employed be careful with your filing status. I can’t count how many times that I’ve seen the filing status destroy a marriage. Recently Judy came to me with an all to common problem. Judy has a very good job with … Continue reading

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Paying your IRS Tax Debt with a part time job.

Part Time Income and Tax Debt. I have a growing concern about so many people finding ways to make money on the side. This could create a potential tax debt nightmare. Not the type of income where an employer withholds income. From … Continue reading

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I have a tax debt of $5000 from commissions I received last year.

taxxfire, I owe a tax debt of $5000 from some commissions that I received last year. I didn’t file or pay last year and I don’t want this to get out of control. The company that I worked for went … 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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Retired with Tax Debt what can be done.

Retired with Tax Debt. George from Topeka is 74 years old and owes the IRS he thinks about $2000 from 2005. He retired in 2003 but in 2004 he worked part-time and a 1099 was filed from his employer. He remembers getting a … 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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When I file back taxes how accurate do I have to be?

Filing Back Taxes LoriLynn didn’t file her taxes in 10, 11 & 12. She claims that she lost her receipts, W-2’s, etc. Her CPA friend told her that the IRS won’t give her an Installment Agreement unless her taxes are … Continue reading

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There’s no tax debt, for 15 years I’ve just paid what I wanted.

He just doesn’t care I ran into a small business man from Mississippi the other day. He told me that regardless of what his 1040 says he owes he just sends in what he want’s or could afford. He also … Continue reading

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Cute but sad. Homeless man tries to pay his tax debt.

Many of my stories comes right from my IRS contacts. This new story caught my attention and it happened right in front of me. Once in a while I go to the IRS just to BS with some of the … Continue reading

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