If you tried calling the IRS lately, you were likely either on hold for a long time or you were disconnected and told to call back later. You are not alone. Customer service at the IRS has declined significantly over the past year.
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Set up an IRS or Michigan Payment Plan
The IRS and State of Michigan have programs to help you pay outstanding tax balances. You are able to set up an installment agreement. The IRS and State of Michigan have different installment agreement programs.
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Tax Treatment on the Sales of Personal Property
When most people think of capital assets, the first thought is stocks. Stocks are considered a capital asset, however personal property are also considered capital assets. We will provide an overview of capital assets and sales of personal property.
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Back Taxes on Credit Report
Delinquent back taxes can show up on your credit report. This will have a harmful effect on your credit score. There are steps that can be taken to remove taxes from your credit report.
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Tax Collection Statute End Date
Owing back taxes is a heavy burden. Especially if there is a limited ability to pay the taxes owed. If you are in this situation, it is good to know the Collection Statute End Date. There is a set period of time the IRS and the State of Michigan have to collect back taxes. Continue reading…
Outrageous $20,000 Fee for Tax Help Services
A new client of ours told us an outrageous story of a large tax resolution firm quoting $20,000 for tax help services.
Tax Question – IRS Penalties and Payment Plan
Question: I am on a re-payment plan but the interest and penalties are adding up to more than my original debt and going up fast. How can I remove penalties but keep paying my taxes only? Is there a hardship form or another form I can complete to have IRS remove fees and penalties? Continue reading…
Get Your IRS Tax Refund
On March 11, 2015, the IRS announced they were holding on to more than $1 Billion of refunds for people who have not filed a 2011 tax return. If they did not file a 2011 tax return by April 15, 2015, then those people lost their tax refund. There is a statute of limitations for claiming a refund. If you are in this situation, there are forms you can file to get your refund prior to the statute expiring. Continue reading…
IRS Statute of Limitations for Tax Audits
How many years back can the IRS audit your tax return? Have you ever wondered how long you should keep documents used to prepare your tax returns? In this article, I review the IRS statute of limitations for audits. Continue reading…
PayPal and eBay Sales Can Cause Tax Problems
Over the last few years, taxpayers that use PayPal and eBay to sell goods are getting a strange form. The form is 1099-K, Payment Card and Third Party Network Transactions. Don’t ignore this form. You may be in for a big surprise if you do.
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