Wondering what the 2020 Recovery Rebate Credit is all about? When congress passed the CARES Act, there was a multitude of excitement over the provision for direct stimulus payments to…
What You Need to Know About the New COVID Relief Bill
On December 27, 2020, President Trump signed the $900 billion Covid Relief Bill after it passed Congress. Notably, the bill authorizes a second round of stimulus payments for taxpayers —…
Can the IRS Garnish Your Pension or Retirement Accounts?
Owing money to Uncle Sam is nothing to take lightly. If you neglect to remediate overdue tax debts, the IRS has the authority to take a number of swift and…
Does the IRS Use Collection Agencies?
Despite many years of assuring taxpayers that the IRS would never cold call individual taxpayers to collect outstanding tax debts, the IRS has recently shifted their practices and has called…
What is an IRS Accuracy Related Penalty?
An IRS accuracy-related penalty is a charge of 20% of a taxpayer’s underpayment of federal taxes due to negligence, substantial understatement of income tax, or other errors found on their…
Guess Who’s Back — The IRS Ramps Up Operations Again
The COVID-19 Pandemic threw a wrench in the works for the IRS, leading to office shutdowns and reduced capacity across the board. However, this won’t be the case for much…
Does Owing the IRS Affect Your Credit Score?
If you’re behind on taxes, you might be wondering if owing the IRS hurts your credit score. Negative marks on your credit score can have a lasting impact, making it…
IRS Lien Discharge: What Is It & How Do I Apply?
As Benjamin Franklin once said, “nothing can be said to be certain, except death and taxes.” Taxes are a part of being American. They go toward a variety of programs,…