Owing the IRS between $25,000-$50,000 is a big problem. In 2011, the IRS rolled out its Fresh Start Initiative, bringing more options to tax debtors in resolving their problem. One of those options was the expansion of the Streamlined Payment Plan to allow more people to more easily qualify for relief. Streamlined The IRS’ use […]
Tag Archives: tax deadline
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We are often asked, “what causes tax debt?” Easy answer: underwithholding. Debt is a topic that most of us try to avoid discussing. When we individually owe debt, there are often feelings of shame. How did I let this happen? These same emotions arise with tax debt, especially when that tax debt sticks around for […]
From about mid January through April, taxes are on everyone’s mind. Everyone is after the most prized accomplishment, a large tax refund. To many practitioners, we find this pursuit comical, as it would be better for most if they withheld less during the year and attempted to owe the less to the IRS. But that […]