For people with tax debts, it is possible that Uncle Sam will garnish some part of the wages in a process known as a continuous levy. This happens when someone does not respond to...
Posted by KLSM CPA Firm PLLC on 03/26/2021
One of the most stressful events in life is experiencing financial difficulty. Whether personally or in your business, it can take its toll on one's well being. It might become...
Posted by CORE PERFORMANCE on 03/16/2021
Uncle Sam has rules for pretty much everything. As a result, one should not be surprised to have rules guiding bankruptcy discharge. With this, if there is any reason for the IRS to...
Posted by Accurate Books And Tax on 03/05/2021
Anyone that has succeeded in having their debt forgiven or discharged needs to report it as income on the tax return. This article discusses all a taxpayer has to expect to avoid surprises. Explaining...
Posted by Daniel P Vigilante CPA and Profit Consultants on 01/19/2021
What is the recovery rate?The recovery rate is the degree of principal recovery and accrued interest on outstanding debt, expressed as a face value rate. The recovery rate can also...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 01/18/2021
Debt cancelation is a problem that often arises at tax time and something every taxpayer should understand. Many people are relieved to be at the end of a long debt battle, only to...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 01/07/2021
Debts with the IRS come in many shapes and sizes. The most common debts owed to the IRS are back or unpaid income taxes. Now that more people are working full or part-time, overdue...
Posted by Flynn Financial Group Inc on 01/06/2021
If you had employees, you will also need to file a final employer’s federal tax return and a final unemployment return. These can be filed according to the regular due...
Posted by Unifirst Financial & Tax Consultants on 10/27/2020
There are many forms of debt people might owe the IRS. It could be back taxes, unpaid taxes, or income taxes. Back tax is becoming a more significant issue as many people find themselves...
