If you need to get past tax returns, here is the guide that will help you through in getting these records: Method of requesting Transcript Copy of Past Tax Returns Sometimes the taxpayer does not need an exact copy of past tax returns but just a transcript can help them. A transcript contains most [...]

Tax Audit is one of the nightmares for a taxpayer. Everyone wants to know how to avoid tax audits. Here are some blunders by tax payers that can help you understand what triggers an IRS audit: Breaking the rules related to foreign accounts The IRS has strict reporting requirements as far as foreign accounts are [...]

Most people have a misconception that married couples have to pay higher taxes than the single tax payer. What they fail to realize is that there are many instances where you get a marriage bonus if you know the right details of tax returns. Marriage penalty Marriage penalty means that a married couple pays more [...]

What is tax forgiveness? IRS introduced the Debt Forgiveness program which is also known as Fresh Start Program. The reason behind starting this program was that IRS realized that taxpayers will never pay their debt off of there is no hope.  IRS use to increase the penalties and interests at a high speed, due to [...]

If you don’t have money to pay to the federal income taxes that you owe, you have three options: Option #1 Get an installment agreement, in which you will pay the full tax liability, but over an agreed-upon period of time. In this way your financial burden will minimize, and you will be allowed to [...]