Business owners struggling to pay their monthly bills can easily become overwhelmed by debt. Running a business is hard enough, but when you add crippling credit card and loan debt into the mix, owners can find themselves in impossible situations.
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Tax season is back, and for most people, it comes with plenty of anxiety and frustration. But tax time doesn’t have to be this way. There are some simple actions you can take to streamline the process and get ahead of the game.
Now is the time to begin preparing for tax season, and if you follow the tips in this article, this could be the year you start making sound financial decisions that will pay major dividends for you and your family. Read more
When individuals and small business owners get in over their heads with their taxes, they often contact a tax resolution attorney to help them square their problems with the IRS or their state government — and with good reason!
Most tax resolution lawyers have years of specialized training and experience working with clients just like you, but that doesn’t mean they can solve all your problems overnight. However, if you choose the right firm, they may be able to help you reduce or even eliminate your tax issues within a reasonable time frame. But it’s important to set reasonable goals from the start and follow your attorney’s instructions to the letter if you want them (and by extension, you) to succeed. Read more
The Offer in Compromise (OIC) program is an IRS program designed to assist taxpayers who have substantial tax debt and are unable to pay in full. Typically, the IRS (or state of Maryland) will negotiate a figure that is equal to the greatest amount they expect to recover over a reasonable time frame but less than what the taxpayer actually owes. Read more
Receiving a notice from the IRS can cause immense stress before you even have the chance to open the letter. (Note: The IRS will not call or email, so if you are receiving either, it is likely a scam.) Read more
