3 Critical Things to Know Before Trying To Deal With the IRS On Your Own
3 Critical Things to Know Before Trying To Deal With the IRS On Your Own Knowledge is power! Understanding what you are getting yourself into is absolutely critical, when is comes to dealing with the IRS. The best approach to solving IRS problems is careful consideration of your situation as a whole before jumping in. […]
IRS Business Audit | Tax Audit IRS | Legacy Tax & Resolution Services
IRS Business Audit | Tax Audit IRS | Legacy Tax & Resolution Services An IRS audit is a review or examination of an organization’s or individual’s returns and supporting information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct. In most cases, an […]
General Contractor Tax Relief | Contractor Tax Relief
General Contractor Tax Relief | Contractor Tax Relief General Contractor Tax Problem Solutions Construction and Extraction Occupations is a popular vocation, employing about 8.3 million nationwide. Statistically there are five industries (Independent Truckers, Childcare Businesses, Realtors, General Contractors and Fishing) that have the most tax problems as a percentage of the general business population. We have worked […]
What Do You Need To Know If The IRS Has Seized Your Bank Account?
What Do You Need To Know If The IRS Has Seized Your Bank Account? If you owe a debt to the IRS and do not take steps to resolve your tax problems, the IRS will take the following actions (one by one, or all at once); Garnishing your wages. The IRS can take a specific […]
What About DIY Tax Resolution?
DIY Is Good for A Clogged Drain, But May Not Be Your Best Option for Tax Resolution In an age when society is hooked on everything DIY, we are trained to find ways to do things without needing assistance or services from another party. The proliferation of YouTube videos about a range of topics from […]
What is Modified Adjusted Gross Income
What is Modified Adjusted Gross Income Modified Adjusted Gross Income (MAGI) is your Adjusted Gross Income (AGI) plus exempt or excluded income and certain deductions. The IRS uses your MAGI to determine your eligibility for certain deductions, credits and retirement plans. MAGI can vary depending on the tax benefit. Modified Adjusted Gross Income – Breaking […]
Can the IRS or State Garnish my Qualified Retirement Account (401(k), IRA, SEP or Keogh Plan)?
So, What Exactly Can the IRS Take?
So, What Exactly Can the IRS Take? The IRS must provide a series of notices if a debt is owed. Those notices culminate in the Final Notice of Intent to Levy. The taxpayer has 30 days to formally object to collections and suggest a collection alternative. Once the 30 days has expired the taxpayer […]
Can the IRS take my stuff?
Can the IRS take my stuff? This was a question sent to us in a website chat. We asked, by “stuff” do you mean your furniture and clothing? Susan indicated yes, that was what she was asking about. Then, Susan, most likely not. In the majority of cases, the IRS is prevented from taking […]
IRS Just Sent Me a Form 668D – What Do I Need to Know?
IRS Just Sent Me a Form 668D – What Do I Need to Know? The IRS has a series of Levy/Lien forms, each has its own level on the stress gauge. Check out the links to learn more: Form 668A, Notice of Levy on Accounts Receivable, Bank or a Financial Institution– Freezing of the […]