Posts by Devin Hayes
What to Do When Past Tax Overhauls Expire
As the saying goes, “The only thing constant is change”, and the same holds true for tax laws in the US. New tax rules and regulations are often shaped by sweeping overhauls that introduce lower rates, new deductions, or credits designed to benefit taxpayers. However, many of these provisions come with built-in expiration dates,…
Read MoreHow Small Businesses Can Navigate IRS Liens Effectively
For many business owners who find themselves dealing with an IRS lien, the story sounds something like this: First, the business starts having cash flow issues. Next, paying employees and vendors becomes strained. Then, if the cash flow issues aren’t resolved, more critical expenses like rent go unpaid. Before long, paying employment or…
Read MoreWhat to Do If You Receive an IRS Letter
Receiving a letter from the Internal Revenue Service (IRS) can feel intimidating, but it’s important to know that many of these letters are routine, and the information they convey can be dealt with quickly and effectively with the right strategy. If you’ve received an IRS letter and are researching ways to react or respond,…
Read MoreCan Tax Debt Be Inherited or Passed Down?
When a loved one passes away, their financial matters don’t simply disappear, and tax debt can be a key concern for surviving family members. Many people wonder whether they could be held responsible for the deceased’s tax obligations. While the idea of inheriting tax debt sounds daunting, the reality is more nuanced. Understanding how…
Read MorePlanning for Federal Tax Policy Shifts And Your IRS Liabilities
Federal tax policies are constantly evolving, and these changes can significantly impact both individual taxpayers and small business owners. New legislation…shifts in economic priorities…changes in government leadership…all of these can influence everything from income tax rates to available deductions and credits. Failing to adapt to these shifts can lead to higher tax liabilities, missed…
Read MoreThe Ultimate Guide to IRS Debt Resolution: Options and Strategies
If you’re dealing with an IRS tax debt situation, you are certainly not alone. A recent report revealed that some 11.23 million Americans owe a total of more than $125 billion in back taxes to the IRS. Every individual has unique reasons for falling into arrears with the IRS. For some, it’s underreported income…
Read MoreUnderstanding Estimated Tax Payments – What You Need to Know
Paying taxes is a responsibility all taxpayers share, but for individuals, sole proprietors, partners, and S corporation shareholders, it often requires a bit more planning. These taxpayers frequently need to make estimated tax payments to avoid penalties, especially if they expect to owe $1,000 or more when filing their return. In this article, we…
Read MoreHow 2025 Federal Tax Changes Could Affect Your IRS Debt
Change is in the wind. And when it comes to the way your IRS debt is managed by the federal government, there’s a lot of change to stay on top of. For virtually all taxpayers in the US, paying federal tax on income is a part of life. So, if you’re one of the…
Read MoreThe Coming Wave of IRS Enforcement: How to Protect Yourself
2025 is in full swing, and significant changes within the IRS are poised to impact taxpayers across the United States. Recent staffing reductions and shifts in enforcement priorities present a challenge for those concerned with tax compliance and debt resolution. Understanding these developments and their implications is crucial for safeguarding financial well-being. As…
Read MoreYour 2025 Guide to This Year’s Tax Break Changes
Tax season can be stressful—especially if you have existing IRS debt or concerns about what you might owe. With 2025 bringing notable changes to tax laws, staying informed is more critical than ever. Thankfully, there are ways to reduce your tax liability, maximize deductions, or explore relief options. By understanding this year’s updates could…
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