How to Avoid the Biggest Mistake Taxpayers Make: Not Paying Back Taxes
Are you among the many Americans who owe back taxes? If so, it’s important to take action as soon as possible to avoid further consequences. Ignoring the problem will only make things worse, as interest and penalties will accumulate over time. Consequences of Not Paying Back Taxes Failing to pay back taxes can lead to […]
Gambling & the IRS
Gambling is a popular pastime for many Americans, but it’s important to understand how it can impact your taxes. The IRS takes gambling income and losses very seriously, and failure to report them on your tax return can result in penalties and even an audit. First, it’s important to understand that the IRS receives information […]
IRS CP2000 Letter
An IRS CP2000 letter is a notice that the IRS sends to taxpayers when there is a discrepancy between the information reported to them by third parties (such as employers or banks) and the information that the taxpayer reported on their tax return. This discrepancy can result in additional tax, penalties, and interest being assessed. […]