Tax Matters - The Top Tax Defenders Blog

Resolving a tax matter to your satisfaction can take a level of skill and finesse that you do not have. Rather than go up against the IRS alone, you need someone with experience, knowledge, and confidence handling tax disputes to help you. Protect your money and settle what you owe to the government by taking advantage of these five important benefits that come with hiring a skilled tax lawyer.

The IRS may seem like a scary government entity that wields too much power over your everyday life. In reality, taxpayers like you are given the proverbial upper hand in terms of how you can pay what you owe. When you have an outstanding IRS balance, you should keep these five important facts in mind before you decide what repayment or settlement option you want to use to resolve your federal tax debt.

Federal liens are just like any other form of defaulted financial obligation in the damage they can do to your credit rating. Unlike unpaid medical bills, credit cards, car loans, and other expenses, IRS collection efforts can vary in how long they are reported by the government and stay on your record. You can take the necessary precautions now to protect your rating and record by discovering the full impact that comes with an IRS tax lien.

The IRS expects you to pay your tax bill each year. When this year's debt is more than you can pay, you might wonder how you can settle it without having a lien put on your assets or having a garnishment put on your paycheck. You can pay your tax bill quickly and realistically by following the process of setting up an installment agreement with the IRS.

Many taxpayers cannot wait for the tax filing seasons to end. Once you hit the Submit button or put your return in the mail box, you are ready to enjoy the rest of the year, knowing that you have filed your taxes successfully.

While you are entitled to every bit of relief that you feel after tax season, you should not delay in preparing to file your returns next year. You can start your prep work now by following a few simple and fast tips.

The IRS is one of the most powerful organizations in the federal government. As much power as it wields, it still must afford you and every other taxpayer full due process according to the law. Learn what your rights are as a taxpayer and at what point you can use them to your benefit.

Every year, as the end of tax season approaches, last minute filers are looking for the easiest and fastest ways to file and submit their returns. Instead of going to a CPA or a tax prep service, many are using mobile applications. Discover the pros and cons of tax apps and whether they can help you file your taxes on time this year.

The IRS offers a variety of credits and deductions designed to ease people's tax burdens. Out of all of them, the Earned Income Tax Credit, or EITC, many times proves to be the most lucrative. You can determine if you can use the EITC on your tax returns this year by learning the key facts regarding this credit and for what purpose the IRS makes it available.

Filing your taxes could leave you with an IRS bill that you cannot afford right now. Rather than ignoring what you owe or exhausting your bank account to pay it, you may be able to settle your IRS debt through other means. These six options allow you to file your taxes even if you cannot afford to pay your taxes by the yearly April deadline.

Taxpayers generally want to owe the IRS as little money as possible after filing their taxes. They use a number of different options to offset their tax liabilities and lower the amount that they are expected to pay to the government each year.

One of the newest ways to lower your tax burden involves opening a Health Savings Account, or HSA. An HSA offers you several unique benefits about which you should know before you prepare your tax return this year.