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Cryptocurrency has become a rising and popular form of digital currency within the United States. The IRS has started to take a stance on cryptocurrency and has put guidelines in place to ensure that anyone with cryptocurrency claims it on their taxes. Since cryptocurrency is still relatively new, especially the taxation portion of it, taxpayers […]

The IRS has many forms of collection actions they can take against you when you owe them money. The IRS takes tax liabilities seriously and will pursue you until they have been paid in full. This can mean that they go to extreme measures such as revoking your passport, seizing your assets, or any other […]

If you have an outstanding tax liability owed to the IRS, it is likely that you will also face some interest and penalties attached to it. The IRS has different types of penalties that they can attach to your tax liability and the longer your owed taxes sit, the more penalties and interest that will […]

Did you just receive a notice in the mail from the IRS that you have a tax lien? The IRS has the ability to issue a tax lien against you when you have unpaid taxes owed to them and this lien helps to secure the collection of owed taxes from you. Fortunately, you do have […]

There are many conveniences to being self-employed from making your own hours to choosing the types of projects you work on. One of the things you don’t have a choice or much flexibility on at all is paying taxes. Even individuals who are self-employed are required to pay taxes. Understanding taxes around self-employment can be […]

One of the collection abilities that the IRS has is the option to seize your assets when you do not pay your tax debt. Having any type of collection action against you by the IRS is not a situation you want to find yourself in, but many taxpayers do. Once collection efforts have been put […]

Opening up the mailbox to find a letter waiting for you from the IRS can cause you to panic just a little. You may start to wonder if you did something wrong on your taxes or if you owe money to the IRS. The truth is, the IRS sends out lots of notices and some […]

In general, you only have about a one percent chance of actually being audited by the IRS. However, it is still a possibility that you may be chosen. If you have received a letter that says you have been selected for an IRS tax audit, try not to panic. Reaching out quickly to an experienced […]

Hearing a knock at your door is normal and quite common, but what do you do when you open the door to be greeted by an IRS revenue officer? Not only may your heart stop for a moment, but you may also instantly feel stressed out and overwhelmed.  No one wants to deal with the […]

Tax season rolls around every year and tax laws continue to evolve and change to adapt and keep up with the times. As an American, if you live abroad throughout the year, make money in another country, or receive assets or an estate in another country, you may be subject to special taxes and reporting […]