Tax Matters - The Top Tax Defenders Blog

The IRS says if there is a federal tax lien on your home, you are required to satisfy it before you can sell or refinance.  The presence of other types of liens can make a home sale challenging, too. While it is possible to sell your home when you have a lien against the property, you are much better off paying your tax debt or other lien debt. 

ADP, a payroll services provider, reported that in 2017 one in fourteen American workers had wages garnished. 

The scariest thing people consider when they owe back taxes is that the IRS will take their house. While it isn’t untrue, it’s still relatively rare for the federal government to seize property, particularly real estate. 

Have you ever tried to get money out of your bank account only to find your account was frozen? You may have been under a bank levy. Bank levies are a tool for collecting on a debt. It sounds counterintuitive that a frozen account would help you pay the debt, but the account is only inaccessible to you.

Tax resolution — it sounds like something you make before a new year only for taxes, doesn’t it? Actually, tax resolution services are what you need if you have to resolve an issue with the IRS.

So you can’t pay your taxes. Don't start worrying about getting in trouble with the IRS yet. Did you know the IRS will let you set up a payment plan? That’s right, the IRS has lay-away! Well, not quite. You don’t get anything back when you pay your bill off except for the knowledge you are in good standing with the feds. 

Nothing sets the nerves on edge quite like the need to file back tax returns. Deserved or not, the IRS has a reputation for making life difficult. (We will admit they are trying to be nicer.)

There are times when you can do your taxes yourself, and there are times when it’s prudent to hire someone to help you.  It comes down to how complicated your taxes are and your comfort level in dealing with them.

If you haven’t filed your income taxes for a while, you are probably wondering what to do now. Should you continue your habitual non-tax filing behavior? Or should you throw yourself on the mercy of the IRS?

COVID-19 has been at the center of our lives for more than a year. To help with the financial impact of the pandemic, the federal government has passed several laws aimed at providing financial aid to those struggling. But how do these laws affect your taxes? How can you take advantage of new financial relief options?