Tax Matters - The Top Tax Defenders Blog

If you had trouble scraping up enough to pay your taxes in full, you might have heard from the federal government already. Understanding tax liens can be confusing, so we've put together answers to some of the most frequently asked questions to help you navigate this complex topic with confidence.

You could be forgiven for missing your tax extension deadline. After all, it's 2020. You could be, but unfortunately, you won't. The IRS wants your return and your tax payment. They waited three extra months, and now they want Uncle Sam's cut.

That number on the line for taxes owed looks awfully big. It looks like more than you feel like you can pay right now. Should you panic?

No, no, you should not.

Did you, by chance, forget to file your taxes…say for the last ten years? Or maybe just this year; after all, everything’s been such a mess.

But how late is too late to file? The short answer is never. You can always file late. You just have to understand that it won’t be the same as if you filed on time.

Property taxes are a significant portion of the cost of owning real estate, usually one percent to three percent of the home’s value to be paid annually. Since property taxes are permanent, anything that can reduce your tax liability will probably perk your ears right up. So, get your ears ready to perk, because the tax reduction term for today is tax abatement.

Can you get a refund if you owe back taxes? The simple answer is … maybe. As in, it depends on whether you owe less in tax debt than you have coming to you as a refund. There are several reasons the IRS might hold up your refund or seize it to pay for other debt.

Can your federal benefits be garnished? In today's business climate, that is a fair question. Unfortunately, there isn't a quick answer other than "It depends."

With the recent quarantine shutdowns and job losses, everyone is feeling the pinch. Some more than others. Now it’s time to file and pay income taxes.

Like a certain Marvel Universe bad guy, the IRS seems inevitable. And most people aren’t Iron Man, not even close. But luckily you don't need superpowers to face a  compliance check.

In 2017, the IRS collected $2.39 trillion (yes, that’s with a ‘T’) in payroll taxes. That amount represented 70% of all federal tax revenue collected for the year.