Tax Matters - The Top Tax Defenders Blog

The IRS has the obligation to go after tax debts that are owed to the government. When you are delinquent in paying your taxes, you can expect the IRS to contact you and use all legal means to settle your account.

The inauguration of the new president in 2017 may greatly impact the way that Americans file their returns this upcoming tax season. The manner in which taxes were prepared and paid may no longer be the standard on which taxpayers can rely. Get ready for the 2017 tax season by discovering what changes may be lying in wait for you and your return.

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December is a busy month for the IRS as it gears up for the new year's tax season. Numerous important tax deadlines fall during this month and could impact your finances and the way that you can file your tax returns after the turn of the year. Set yourself up for the most advantageous tax prep season by discovering what important IRS deadlines you should meet during the month of December.

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When you owe back taxes, the IRS may attach a lien to any property or assets that you own. This lien makes it difficult if not impossible to manage these possessions until your debt is satisfied.

However, you may be able to obtain a Certificate of Discharge, or COD, from the IRS under certain circumstances. These criteria may be sufficient for the IRS to release the lien and allow you more access to your assets or property.

Raising a baby can put a dent in your budget. Fortunately, the IRS makes available numerous exemptions that could save you money on your taxes. Before you file your taxes for the first time as new parents, you should learn about these helpful tax credits that could lower your tax debt and could possibly lead to the IRS owing you a refund.

The IRS may be the last agency you think of when you need help during a financial crisis. However, it offers programs that could relieve your monetary hardship and give you extra time to get caught up with your IRS tax debt. When you experience financial challenges because of your delinquent taxes, you may benefit by taking advantage of one of the IRS hardship programs.

Despite your best intentions to file on time and with the utmost of care, you may still slip up when filing your taxes. This one-time mistake could cost you hundreds or even thousands of dollars in IRS penalties, fines, and interest.

The IRS advises people to keep copies of their tax returns. Still, if you have misplaced your copies or you would like to have extras on hand, you have the right to request them from the government. Before you contact the IRS to ask for a copy of any of your tax records, however, you should understand why you have the right and what process the IRS asks that you abide by when making your request.

When you owe back taxes to the IRS, you put any assets or income you possess at risk of being levied or seized. If you do not have money or property that the IRS can claim now, you could face a tax lien or seizure of your assets in the future if your financial status improves or if you receive an inheritance. Before you inherit money, you may prepare yourself financially by knowing how an IRS debt could impact any trust fund that has been established for you.