You may already know that Chapter 7 bankruptcy is a way to eliminate some types of debt, but did you know that in certain cases you can also erase your tax debt? Chapter 7 bankruptcy is a government-backed debt liquidation option that allows debtors to eliminate eligible debt. Unlike Chapter…
When you’re in debt to the Internal Revenue Service (IRS), penalties and the interest on those penalties can make a bad situation much worse. What may have begun as a simple mistake or short-term cash flow problem can easily spiral into insurmountable debt, and will continue to grow until you…
Most people know that the Internal Revenue Service (IRS) can be very aggressive about collecting past-due taxes. You’re probably aware of the possibility of significant wage garnishments, and the use of tax liens. However, you may not know that if you’re seriously delinquent in your tax obligations, your passport may…
Potential home buyers who owe taxes to the IRS may find it difficult to obtain financing from a mortgage lender. If you have unpaid taxes, the IRS can put a lien against your property or other assets; as a first lien holder, the IRS’s claim to your assets supersedes all…
Just hearing the words “IRS tax audit” can cause someone to panic. And, if that person really does get an audit notification from the IRS, that fear can then cause him or her to freeze, instead of taking the actions that would be beneficial to resolve the issues. So, whether…
With the holidays fast approaching, gift-giving is on the minds of every child and adult alike. Some monetary gifts, however, may end up costing you a significant amount more because the federal government (and some states) impose a gift tax. The IRS defines a gift as any money, property, or…
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Jacksonville, FL 32257
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