Sandra Guderjahn

Sandra Guderjahn

Freelance beer fanatic. Incurable coffee junkie. Freelance tv scholar. Extreme twitter advocate. Hardcore internet fanatic. Wannabe twitter lover.

85 Posts Written
How does irs debt forgiveness work?

How does irs debt forgiveness work?

If your debt is forgiven or canceled for less than the full amount you owe, the debt is considered canceled for the...

How do you qualify for irs forgiveness?

How do you qualify for irs forgiveness?

True tax forgiveness comes in the form of credits against back taxes. These credits may reduce part or all of your tax...

What are the 3 steps for tax refund?

What are the 3 steps for tax refund?

Where is my refund? you have the most up-to-date information available about your refund. Use it to get the status of...

How long until the irs puts a lien?

How long until the irs puts a lien?

If you don't make payments within ten days after the “Notice and Request for Payment” letter, a tax lien will be...

Can irs touch your savings account?

Can irs touch your savings account?

An IRS lien allows for the legal seizure of your property to satisfy a tax debt. You can garnish salaries, deposit money...

Can you negotiate tax penalties?

Can you negotiate tax penalties?

First of all, you should know that it is possible to negotiate a reduction in penalties and interest, but it is at the...

How does the irs calculate offer in compromise?

How does the irs calculate offer in compromise?

You must include 20% of the offer amount in your request (in addition to the application fee). This money is not...

What is the irs 6 year rule?

What is the irs 6 year rule?

Six years due to major income underestimations. The statute of limitations is six years if your return includes a...

Can you get an fha loan if you haven't filed taxes?

Can you get an fha loan if you haven't filed taxes?

It is possible to apply for and get approved for an FHA loan without tax returns. However, you must still provide your W2 ...

What assets can the irs not touch?

What assets can the irs not touch?

Unfortunately, the IRS can seize your assets if you don't pay your taxes. There are only a few types of assets that...

Does the irs fresh start program hurt your credit?

Does the irs fresh start program hurt your credit?

Tax season is stressful, especially if you have a debt to the IRS for the past few years. Waiting to resolve your debt...

Can irs debt be waived?

Can irs debt be waived?

A compromise offer (OIC) is an agreement between a taxpayer and the IRS to settle a tax debt for less than the total...

How many years does it take for irs debt to be forgiven?

How many years does it take for irs debt to be forgiven?

In general, the Internal Revenue Service (IRS) has 10 years to collect unpaid tax debt. After that, the debt is erased...

How do i calculate irs interest?

How do i calculate irs interest?

The IRS interest rate is determined by the federal short-term rate plus 3% for most people. Interest is generally charged ...

Does the irs forgive back taxes?

Does the irs forgive back taxes?

The short answer is Yes, but it's best to ask for professional help to get that forgiveness. Check out what every...

How serious is an irs audit?

How serious is an irs audit?

Audits can be bad and result in a significant tax bill. But remember: you should not panic.

Can i withdraw money from a frozen account?

Can i withdraw money from a frozen account?

Frozen accounts don't allow any debit transactions. When an account is frozen, account holders can't make withdrawals,...

Is there a time limit on owing the irs?

Is there a time limit on owing the irs?

Section 6502 of the Internal Revenue Code states that the duration of the collection period after the evaluation of a tax ...

Can you get irs debt forgiven?

Can you get irs debt forgiven?

The short answer is Yes, but it's best to seek professional help to get that forgiveness. Take a look at what every...

Does the irs audit 1099s?

Does the irs audit 1099s?

The IRS has years to audit your tax return. Even if this automatic system doesn't record your unreported $1,099 income,...

What is the difference between a tax and a levy?

What is the difference between a tax and a levy?

A tax rate is the percentage used to determine how much a real estate taxpayer will pay. A tax represents the total...

Can you negotiate with irs to remove penalties and interest?

Can you negotiate with irs to remove penalties and interest?

First, you should know that it is possible to negotiate a reduction in penalties and interest, but it is at the...

Can i amend a return from 4 years ago?

Can i amend a return from 4 years ago?

The IRS will only accept an amended return within three years of the date you filed the original return or within two...

Does the irs forgive tax debt after 10 years?

Does the irs forgive tax debt after 10 years?

In general, the Internal Revenue Service (IRS) has 10 years to collect unpaid tax debt. After that, the debt is erased...

Can the irs collect after 12 years?

Can the irs collect after 12 years?

Every tax assessment has a collection statute (CSED) expiration date. Section 6502 of the Internal Revenue Code states...

Who qualifies for fresh start initiative?

Who qualifies for fresh start initiative?

The new updates to the Fresh Start initiative are another set of rules that must be kept clear when trying to resolve tax ...

Does filing an offer in compromise stop collections?

Does filing an offer in compromise stop collections?

Wage garnishments, bank accounts, seizures) To limit the amount of out-of-pocket expenses to satisfy the tax debt....

What can the irs not levy?

What can the irs not levy?

The IRS cannot seize assets that you did not own or in which you had no interest at the time the garnishment was...

What will trigger an irs audit?

What will trigger an irs audit?

Transactions with cryptocurrencies or other digital currencies · 2.Net Operating Losses (NOL) · 3.While the chances of...

Can i add tax owed to existing installment agreement?

Can i add tax owed to existing installment agreement?

There can be only one installment agreement that includes all the tax years in which you owe an outstanding tax debt. A...

How much is interest on irs extension?

How much is interest on irs extension?

Interest on unpaid taxes accrues daily from the original due date of the return until the date you pay in full. The rate...

Will the irs notify me before garnishing wages?

Will the irs notify me before garnishing wages?

The IRS usually sends several notices before garnishing your salary. These notices are called the IRS collection notice...

Does the irs usually approve payment plans?

Does the irs usually approve payment plans?

While unpaid taxes continue to accrue interest and late payment penalties, the penalty rate for non-payment is halved...

Can the irs extend the statute of limitations?

Can the irs extend the statute of limitations?

The period for settling taxes may also be extended by agreement of the taxpayer under Section 6501 (c) of the IRC (. If...

How long does it take for an oic to be accepted?

How long does it take for an oic to be accepted?

Processing times vary, but you can expect it to take at least six months for the IRS to decide whether to accept or...

What qualifies as an irs hardship?

What qualifies as an irs hardship?

An economic difficulty occurs when we determine that the tax prevents you from covering basic and reasonable living...

Do i qualify for irs debt forgiveness?

Do i qualify for irs debt forgiveness?

You then have to prove to the IRS that you don't have the means to return the money within a reasonable period of time....

How often are offer in compromise accepted?

How often are offer in compromise accepted?

You can't pay the calculated offer amount. Excessive economic hardship usually occurs when you can't afford reasonable...

How do i overcome irs debt?

How do i overcome irs debt?

Apply with the new Form 656 A transaction offer allows you to settle your tax debt for less than the full amount you owe. ...

What is the 10-year rule for inherited 401k?

What is the 10-year rule for inherited 401k?

Now, under the SECURE Act, these distributions must empty the entire account within 10 years of the death of the original ...

How do i negotiate penalties and interest with the irs?

How do i negotiate penalties and interest with the irs?

Interest Relief You can authorize someone to contact the IRS on your behalf, see if you qualify for help from a clinic...

Is there a real irs forgiveness program?

Is there a real irs forgiveness program?

The short answer is Yes, but it's best to ask for professional help to get that forgiveness. Check out what every...

Is the irs fresh start initiative legitimate?

Is the irs fresh start initiative legitimate?

Tax experts have a skillful understanding of the requirements of the IRS Fresh Start Program and will not be intimidated...

Is the irs forgiving back taxes?

Is the irs forgiving back taxes?

This is because the agency only forgives the tax debt in situations that justify it. With that in mind, the IRS rarely...

Does the irs still offer a fresh start program?

Does the irs still offer a fresh start program?

The program was designed to give first-time tax offenders the opportunity to fix things. It allows taxpayers to pay off...

Is the irs forgiving tax debt?

Is the irs forgiving tax debt?

Apply with the new Form 656 A transaction offer allows you to settle your tax debt for less than the full amount you owe. ...

What if i owe more than 50000 in taxes?

What if i owe more than 50000 in taxes?

The IRS offers several electronic payment options to make a full or partial payment with your tax return. Just keep in...

Is irs fresh start legitimate?

Is irs fresh start legitimate?

In reality, it's a series of tax debt relief solutions offered by the agency. The IRS's new startup initiative helps...

What causes a tax levy?

What causes a tax levy?

An IRS lien allows for the legal seizure of your property to satisfy a tax debt. You can garnish salaries, deposit money...

How does the irs forgiveness program work?

How does the irs forgiveness program work?

You then have to prove to the IRS that you don't have the means to return the money in a reasonable amount of time. See...

How much interest does the irs pay when it owes you an old refund?

How much interest does the irs pay when it owes you an old refund?

COLUMBUS, Ohio Due to the pandemic, the Internal Revenue Service continues to experience delays in processing tax...

What Is The Minimum Payment The IRS Will Accept?

What Is The Minimum Payment The IRS Will Accept?

You're not the only one feeling stressed about paying back taxes to the IRS and wondering how much the minimum payment...

How many times can you do a payment plan with the irs?

How many times can you do a payment plan with the irs?

There can only be one installment payment agreement that includes all the tax years for which you owe an outstanding tax...

What are the requirements for the irs fresh start program?

What are the requirements for the irs fresh start program?

The IRS Fresh Start initiative, often referred to as the Fresh Start Program, is an expansion of existing tax relief...

How much does a tax relief company charge?

How much does a tax relief company charge?

Some tax relief companies charge a fixed percentage of the amount owed to the IRS, such as 10%. Even if you think you're...

How do i get rid of a tax levy?

How do i get rid of a tax levy?

You can avoid a garnishment by filing returns on time and paying your taxes in due time. If you need more time to apply,...

Is the irs forgiving penalties?

Is the irs forgiving penalties?

Most payments will be made by the end of September. For more information, see COVID Penalty Relief.

What are the 3 most commonly used tax levies?

What are the 3 most commonly used tax levies?

Individual and consumption taxesIndividual income taxes, excise taxes, inheritance & gift taxes. A tax levy is the...

Will the irs stop a levy?

Will the irs stop a levy?

The IRS can also release a tax if it determines that the tax is causing immediate economic hardship. If the IRS rejects...

How long do you have to pay the irs on a payment plan?

How long do you have to pay the irs on a payment plan?

You should apply for a payment plan if. There are two types of simplified installment agreements, depending on how much...

How do i get the irs to forgive penalties?

How do i get the irs to forgive penalties?

Follow the instructions in the IRS notice you received. You can also apply for forgiveness of the fine after you have...

Is the irs forgiving past tax debt?

Is the irs forgiving past tax debt?

The short answer is Yes, but it's best to seek professional help to get that forgiveness. Take a look at what every...

How many americans owe the irs back taxes?

How many americans owe the irs back taxes?

Skylar Clarine is a fact-checker and personal finance expert with extensive experience including veterinary technology...

Is irs debt ever forgiven?

Is irs debt ever forgiven?

In general, the Internal Revenue Service (IRS) has 10 years to collect outstanding tax debt. After that, the debt is...

Does the irs offer one time forgiveness?

Does the irs offer one time forgiveness?

Single forgiveness, also known as penalty reduction, is an IRS program that exempts taxpayers who have made a mistake...

How do you apply for irs fresh start program?

How do you apply for irs fresh start program?

To file an application, the IRS requires that you complete Form 433-A (OIC) Collection Information Statement for Wage...

What is the irs tax forgiveness program?

What is the irs tax forgiveness program?

The IRS debt forgiveness program is an initiative created by Internal Revenue Services to facilitate payments and provide ...

What is a one time irs levy?

What is a one time irs levy?

Some taxes have a “one-time” effect, in which the IRS keeps an asset all at once. A tax on your bank account only...

Is amending tax return free?

Is amending tax return free?

The previous year's amendments can also be completed free of charge, but they will need to be sent by mail, since the IRS ...

How do i write a irs penalty abatement letter?

How do i write a irs penalty abatement letter?

Letter of request for reduction of fines from the IRS Indicate the type of penalty you want eliminated, include an...

How many years can the irs go back to collect taxes?

How many years can the irs go back to collect taxes?

As a general rule, there is a ten-year statute of limitations for IRS collections. This means that the IRS can attempt to ...

Does the irs ever forgive tax debt?

Does the irs ever forgive tax debt?

The IRS rarely forgives tax debts. Form 656 is the request for a “commitment offer” to settle your tax liability for...

Does the irs usually accept payment plans?

Does the irs usually accept payment plans?

The IRS will analyze your full financial situation to determine your ability to pay. The IRS will calculate your monthly...

What happens when you get a tax levy?

What happens when you get a tax levy?

An IRS lien allows for the legal seizure of your property to satisfy a tax debt. You can garnish salaries, deposit money...

Are amended tax returns more likely to be audited?

Are amended tax returns more likely to be audited?

Some people refrain from modifying their returns, even if they discover that the IRS owes them money, because they...