What Is The IRS Fresh Start Program? What You Need To Know
January 11, 2023
What Is The IRS Fresh Start Program? What You Need To Know If tax debt is weighing you down, you’re not alone—and the IRS Fresh Start Program could be a step in the right direction. Created to help individuals and small businesses manage unpaid taxes more easily, this program offers several options for easing the…
IRS Currently Not Collectible Status: What Are The Pros And Cons?
March 16, 2023
Every year, millions of people file their taxes only to find out they owe more than they can afford. While many manage to pay in full or set up monthly payment plans with the IRS, there’s a large group of taxpayers—millions, in fact—who simply can’t pay anything at all. If that sounds familiar, you’re not…
Does IRS Debt Affect Your Credit Score?
October 12, 2023
Worried about how IRS debt might affect your credit score? You’re not alone. Many people stress about whether unpaid taxes or unresolved IRS issues will damage their credit reports and lower their scores. The good news? You have options – and not all tax debt automatically means credit disaster. While recent changes mean tax liens don’t always appear…
Understand The IRS Form 1099-C And 1099-C Statute Of Limitations
June 14, 2024
Dealing with debt is stressful enough—then comes tax season, and suddenly, you’re hit with IRS Form 1099-C. If a creditor cancels a debt of $600 or more, they’re required to send you this form, and it’s also reported to the IRS. That canceled debt might now be considered taxable income, which can come as an…
Why Do I Owe Taxes This Year? 7 Common Reasons
August 28, 2023
Taxes can be confusing and frustrating, especially when you find out you owe money to the IRS. If you’re asking yourself, “Why do I owe taxes this year?” you’re not alone. Many taxpayers face unexpected bills due to common mistakes or changes in their financial situation. Understanding the reasons can help you plan better and…