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5 Ways to Lower Tax Debt

lower tax debt

1. Penalty Relief from the IRS Most taxpayers ask for tax reduction but that is not necessarily what is available. Penalty abatement will lower the tax debt, but you need to be careful as the penalty could still be accruing and you may only abate part of it. Many taxpayers are…

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Avoiding Large FBAR Violation Fines

fbar filing

Not just for the uber-wealthy, foreign or “offshore” accounts are common for many people, including those who have immigrated to or are temporarily working in the United States. Although having a foreign bank account can be beneficial for many reasons, failure to report those accounts can lead to jail time…

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Removing an IRS Federal Tax Lien

remove irs tax lien

One of the most serious consequences of owing tax debt to the IRS is a federal tax lien. Federal tax liens can prevent you from being able to purchase or sell property, obtain credit to purchase a car, or even impact certain types of employment. But what is an IRS…

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Back Taxes and Passports: What to Know

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…

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