Posts by Traxion Tax
How Far Back Can the IRS Audit You?
If you received notice that the IRS intends to audit your taxes, you may be wondering how far back they will be looking. In this article, we’re taking a closer look at one of the most common questions we hear from people – how far back can the IRS audit you? How Far Back Can…
Read MoreHow to Settle Tax Debt Quickly
You need to know how to settle tax debt quickly in case you find yourself in a situation in which you owe taxes to the IRS. Ignoring a tax debt you owe will only develop into additional problems and penalties. This can be a stressful situation, so we thought it might be helpful to explore…
Read MoreWhat to Do When You Owe Back Taxes?
If you owe back taxes and cannot afford to pay, you may feel overwhelmed and stressed about the consequences. Fortunately, you have a few options. In this article, you will discover what to do when you owe back taxes. What to Do When You Owe Back Taxes? The IRS has several tools at its disposal…
Read MoreWhat Is a Notice of Federal Tax Lien?
Federal tax liens represent the government’s legal claim over your property in the event of substantial and unpaid tax debt. A federal tax lien encompasses all assets, properties, businesses, and accounts under your name and anything added to your own during the lien period. In this article, we’re taking a close look at a common…
Read MoreWhat Is a Tax Levy?
A levy is a creditor’s right to claim property, assets, or accounts in order to satisfy a debt. Tax levies specifically are a tool used by the IRS when all other attempts at convincing a taxpayer to take care of their outstanding balance have failed. So, what is a tax levy and how do you…
Read MoreHow to Remove a Federal Tax Lien
If the IRS determines that you have a hefty unpaid tax bill, and you fail to negotiate a payment plan with them or pay the debt back in full, they are eligible to place a federal tax lien on your property. In this article, you will discover how to remove a federal tax lien. …
Read MoreWhat is a Tax Audit?
A tax audit can be an extremely difficult process without an experienced tax professional. If you receive notice that the IRS is auditing your taxes, a professional may be able to help you file an audit reconsideration. In this article, we’re exploring one of the most common questions we hear from people – what is…
Read MoreHow to Setup a Payment Plan with the IRS
If you owe the IRS money but can’t afford to pay the full amount, you may be interested in setting up an IRS installment agreement. In this article, we’re taking a closer look at how to setup a payment plan with the IRS. How to Setup a Payment Plan with the IRS A simple mistake…
Read MoreWill the IRS Take a Settlement?
If you owe the IRS more money than you can afford to pay, you may be wondering … will the IRS take a settlement? If you have any outstanding tax balance with the IRS, they expect you to go above and beyond to pay them back. To that end, the IRS possesses the ability to…
Read MoreHow Often Does IRS Accept Offer in Compromise?
If you’re unable to pay the amount of your tax debt, you may be interested in exploring an offer in compromise as an alternative. So, how often does IRS accept offer in compromise? How Often Does IRS Accept Offer in Compromise? Struggling with tax debt is stressful, particularly if it feels like you have…
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