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How the IRS Works

Tax Transcripts – Why They Matter

Tax Transcripts are a critical component of tax preparation. They show the IRS what you have paid in taxes, and they can help to determine if you qualify for a refund or a balance due on your tax return. Tax transcripts also provide information...

Options For Tax Resolution

For most small business owners, cash flows are often tight, and there may come a time when you find yourself unable to pay vendors or suppliers, let alone your taxes. You may have been making timely payments but then an unexpected event has put...

The 10-Year Collection Statute – Why It Is So Important

The 10-Year Collection Statute is one of the most important pieces of legislation that you need to be aware of. Essentially, this law states that any debt which has not been collected within 10 years can no longer be collected. This statute does...

IRS Collection Notices: What Do They Mean?

When you receive a notice from the IRS, it can feel like being pulled over by the police. But don't panic! If you are diligent about reading these notices and following their instructions, they may provide some relief to your worries. In this...

How IRS Collection Works

The Internal Revenue Service, the agency responsible for collecting taxes in the United States, is a formidable machine. The IRS collects billions of dollars annually from taxpayers who are required to submit financial information each year on...