Many people find themselves in tax debt, so if you’re one of them, you’re not alone. There are many steps involved in resolving IRS tax debt. You can begin the process by contacting us for a free consultation! Here’s what comes next for obtaining tax debt resolution: Tax Analysis Review First, the IRS/State is contacted to obtain your account records and transcripts. We confirm the balance owed, collection statute dates, substitute filings and any unfilled tax years. Based on this information we will determine the best course of action for your case. Compliance For your tax account to be resol ..read more

Many people find themselves owing an IRS tax debt — so don’t feel bad if you’re one of them. However, there are several tax resolution methods you can do to help ease your burden. Let’s go over some of the most common methods: 1. Installment Agreement With an installment agreement, the taxpayer agrees to pay off their debt in monthly installments for up to six years. This way, the taxpayer is not overwhelmed by the full amount of their debt at once. Once it is paid off, the federal tax lien that was imposed is lifted. 2. Offer in Compromise An offer in compromise allows the taxpayer to pay a l ..read more

If your romantic partnership has recently ended, and you are unaware of how this will impact your taxes, then you should know the following: Understand Your Filing Status Your marital status determines how you will file your taxes. If you are legally divorced by midnight on December 31st, you will file separately from your former spouse (for the next tax year). However, if you split legally any time after that, you must file them together for that year. Review Who Will Claim The Children As Dependents It is important to review your divorce decree to see who will claim the children as dependent ..read more

In December of 2017, several fiscal changes were made on a federal level involving our taxes. Trump signed the Tax Cuts and Jobs Act which eliminates personal exemptions, cuts individual income tax rates, and doubles the standard deduction. How Have Tax Rates Changed? The lowest tax-paying members of society faced no change from 2017 to now. They previously paid a 10% rate and will continue to do so. The middle tax bracket, consisting of households with an $82,000 to $157,000 income saw a significant reduction from a 28% rate to a 24% rate. The wealthy now pay a 37% rate, rather than the 39% r ..read more

Fame and money often go hand in hand. However, you may not realize that money issues even exist for our favorite musicians. Many musicians have committed fraud, evaded taxes, or even ran complex schemes to land themselves on our list. Here are five musicians who have owed a tax debt: DMX The well-known rapper, DMX, whose real name is Earl Simmons, owed nearly $2 million in federal taxes. He was even arrested in 2017 for committing tax fraud. Marc Anthony The two-time Grammy Award-winning salsa singer Marc Anthony tangled with the IRS back in 2010 over his property taxes. He was hit with a $3.4 ..read more

No one is perfect when it comes to getting things done on time. That is why some people need to receive an extension on their taxes. Reasons why someone might need an extension: 1. Sometimes personal life events can prevent someone from paying taxes on time. For example, a death in the family or an extreme illness can cause some financial setbacks. This is well understood, and an extension will be granted to you with little to no questions asked. 2. Incomplete tax documentation can also pump the brakes on your tax payments. If you lose your W-2 form or simply need more time to properly fill o ..read more

America’s Number 1 IRS Debt Solution Service We are proud to announce that we have a brand new website! Our new website will have a unique search bar that will allow you to type in your specific tax question and read up about it. Additionally, our new website will have a sleeker look, it’s more streamlined, and it has more information on it than our previous one. At The Tax Defense Group, we believe in educating the public and our clients. The American tax code is very complex and it’s very difficult to understand. On top of that, it’s constantly changing, and things are routinely being added ..read more