Tax Resolution Archives - Clergy Tax Resolution

What is a Levy? IRS and Other Asset Levies Explained

Falling behind on your debts is never a fun place to be. It’s less fun when a levy is placed on your assets. In this article, we take a look at what…

by justdigital

Did You Make Money with Cryptocurrency? How to Get Right with the IRS

For early adopters of Bitcoin, Ethereum and other popular cryptocurrencies, the profit potential has been simply stunning. While there have been some…

by justdigital

Payroll Tax Problems December 9, 2020

If you run a corporation and pay workers, payroll taxes will have to be dealt with. A discreet way to get into trouble with the IRS is to refuse to register and pay your payroll taxes, resulting in large fines from the IRS, and it can also be considered a federal crime.

Back Taxes Owed November 19, 2020

Back taxes are taxes that were partially or completely unpaid in the year in which they were due. Taxpayers may have unpaid back taxes at the federal, state and/or local levels.

Penalty Abatement November 20, 2020

A penalty abatement is a reprieve that helps you to avoid the fines imposed on you for not filing your taxes or failing to pay them. As the name suggests, only one reprieve will be granted, and it must be for the tax year you are applying for. It can not be extended to fines of several years’ worth.

Offer in Compromise November 19, 2020

An offer in compromise (OIC) is an arrangement between a taxpayer and a taxing authority whereby the taxing authority offers to allow the taxpayer to pay the tax debt for less than the full amount.

Liens December 9, 2020

A lien is a claim or legal right against properties that are normally used to satisfy a debt as collateral. A creditor may be entitled to seize an asset that is the subject of the lien if the underlying duty is not fulfilled.