Managing IRS Debt: Strategies and Solutions
Facing IRS debt can be overwhelming, yet numerous strategies exist to manage and potentially lessen your tax obligations. This article delves into various avenues, from negotiating payment terms to exploring bankruptcy, and demystifies IRS policies to help you.............
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Your Tax Refund: How You Loaned Your Money to the Government at Zero Interest
Most people get a good feeling when they know they’ll be receiving a fat refund on their taxes. But is that really the best financial strategy? If you’re paying off credit cards or a high-interest loan, the answer is probably no. Imagine your tax refund is $3,200, which is about the average amount a U.S….
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What are the Rules for Discharging Income Tax Debt in Bankruptcy?
If you thought that you could not discharge income tax debt in bankruptcy, then you might be happy to be mistaken if you owe money to the IRS. You absolutely may discharge old tax debts, penalties and interest in Chapter 7 and Chapter 13 bankruptcies, as long as you qualify under a few simple IRS…
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