Skip to content

Traxion Tax Blog

Is an IRS Audit Letter Really Something to Worry About? - Traxion Tax

Is an IRS Audit Letter Really Something to Worry About?

By Traxion Tax July 26, 2022
Posted in

Receiving an IRS audit letter is rare – less than a percent of taxpayers get audited at just 0.22 percent in 2019. However, just because the chance of an IRS…

What Are the Implications of a Federal Tax Lien Release? - Traxion Tax

What Are the Implications of a Federal Tax Lien Release?

By Traxion Tax July 11, 2022
Posted in

A tax lien release is applied on taxpayer accounts with significant outstanding tax liabilities who failed to contact the IRS and establish a payment plan promptly. Lien releases are challenging…

Guide to Choosing and Hiring Tax Relief Specialists - Traxion Tax

Guide to Choosing and Hiring Tax Relief Specialists

By Traxion Tax July 8, 2022
Posted in

Tax relief specialists are experts in IRS standards and procedures offering services to help you with your tax issues. Tax relief is an umbrella term for any professional services rendered…

The Ultimate Guide to Small Business Debt Restructuring - Traxion Tax

The Ultimate Guide to Small Business Debt Restructuring

By Traxion Tax June 28, 2022
Posted in

Starting a business of your own is no small feat. There are a dozen logistical, personal, and financial challenges to face on a near-daily basis, and unlike wage work, there…

How Long Does Audit Reconsideration Take? - Traxion Tax

How Long Does Audit Reconsideration Take?

By Traxion Tax June 23, 2022
Posted in

The IRS does not audit often. Most of these audits are quick and painless, conducted over the telephone and by mail, with the exchange of a few clarifying documents or…

What Is the IRS First Time Penalty Abatement? - Traxion Tax

What Is the IRS First Time Penalty Abatement?

By Traxion Tax June 21, 2022
Posted in

Owing money to the IRS is one thing. The IRS can supersede all private creditors and utilizes multiple collection actions to coerce payment. Yet, despite a relatively diverse arsenal of…

Can You Have Two Installment Agreements With the IRS? - Traxion Tax

Can You Have 2 Installment Agreements With the IRS?

By Traxion Tax June 20, 2022
Posted in

The IRS reports that American taxpayers owed $114 billion in back taxes, penalties, and interest in 2020. Given such a high total, collecting tax debt becomes an essential priority for the…

What is Tax Resolution? Everything you Need to Know - Traxion Tax

What Is Tax Resolution? Everything you Need to Know

By Traxion Tax June 14, 2022
Posted in

What is tax resolution? Tax resolution is the goal for any taxpayer in hot water with the IRS – no matter what their trouble might entail. The IRS, as an…

Form 433: How the IRS Assesses Your Ability to Pay Tax Debt - Traxion Tax

Form 433: How the IRS Assesses Your Ability to Pay Tax Debt

By Traxion Tax June 14, 2022
Posted in

There are circumstances under which the IRS must collect information to determine whether a taxpayer can honor their commitment to a potential payment plan or installment agreement. The IRS usually…

noun-taxes-2724301

Subscribe to receive your free tax report