IRS

IRS Fresh Start Program

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IRS Fresh Start Program

There is a new system called the IRS Fresh Start Program which aims to make it easier for people to pay back taxes and avoid a lien coming against them. There are three major parts to the IRS program. Tax liens, installment agreements and offers of compromise are the three features of the program.

The program increases the amount a person can owe before the IRS will file a notice of federal tax lien. Even though the IRS can file before the 10,000 limit this does increase it for the average person.

The IRS has also … Read the rest

New Tax Problems For Lindsay Lohan

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Tax Problems For Lindsay Lohan

Many people make wise choices when it comes to filing their taxes, and this annual activity may happen smoothly and without incident. The popularity of Turbo Tax 2013 may help taxpayers benefit more than ever as they prepare to file their income tax returns for 2012. Lindsay Lohan would do well to heed the advice that many individuals follow each tax season, especially since she faces new tax issues about not paying her 2011 taxes. Most people who may owe back taxes are not lucky enough to have a famous and wealthy friend step in … Read the rest

TurboTax Saves You Time And Money

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TurboTax Saves You Time And Money

Again it is that time of the year that you dread; tax time.  It may seem like you just filed, but now you are running out of time to complete and submit your IRS 2012 taxes.  Many people make major mistakes when it comes to filing their taxes.  One common mistake is completing their tax paperwork on their own,  without the use of professional tax expert or professional tax software.  Due to this mistake they underestimate their estimated tax payment and end up owing a lot more than they thought they would.  This … Read the rest

E-Filing Your Taxes With TurboTax

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E-Filing Your Taxes With TurboTax 2013

We are in the midst of the 2013 tax filing season. Every year since 1993; Americans have increasingly used e-filing software to file their tax returns. TurboTax 2013 has perfected the process of contemporary electronic tax filing.

Since the IRS introduced electronic filing in 1990, they have securely processed over 1 billion individually prepared electronic tax returns. The IRS touts e filing for the following benefits —

• The Tax Returns are More Accurate and Complete – TurboTax 2013 does all the math calculating and even compares data from previous year’s filings for consistency. … Read the rest

Tax Returns: Processing Begins On January 30th

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Tax Return Processing

The Internal Revenue Service of the United States(IRS) made the announcement this past week that the season for filing taxes will not begin until January 30th. They are not going to start any processing of individual tax returns until that date.

The IRS had originally announced January 22nd as the date they would be opening tax filing. The reason for the bump back in the date is the changes in the tax law that congress passed on New Year’s Day. This all had to do with the “fiscal cliff” negotiations between house Republicans and the president.

At … Read the rest

IRS Tax Relief Programs

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IRS Tax Relief

If you are looking for IRS tax relief information, maybe this will help you. The IRS has several tax relief programs for people who owe back taxes.

There is an Installment Agreement available to people who don’t have the money to pay their tax debt all at once. The program lets people make monthly payments until the whole debt is paid off. Another one that they have is an Offer in Compromise. This lets taxpayers settle their tax debt for less than the amount that they need to pay. The OIC helps taxpayers in limited circumstances.

In some circumstances, the … Read the rest