The Tax Cuts and Jobs Act: An Overview Your understanding of the Tax Cuts and Jobs Act (TCJA) begins with its significant impact on both individual taxpayers and businesses alike. Enacted in December 2017, the TCJA implemented a broad array of changes focusing on tax rate adjustments, alterations in deductions [...]
Obtaining a reduction in your tax debt through negotiation with tax authorities can be a daunting task. However, with the right strategy and preparation, it is possible to achieve a favorable outcome. In this how-to guide, we will discuss the key steps and strategies for successfully negotiating with tax authorities [...]
**Slug: Gig Workers at Risk: Understanding IRS Wage Garnishment** Gig workers enjoy the freedom to set their own schedules and choose their projects. With this independence comes the obligation to manage taxes. Many gig workers are surprised to discover that failing to pay taxes can lead to IRS wage garnishment. [...]
Title: Understanding IRS Form 4506-T for Obtaining Tax Transcripts The Internal Revenue Service (IRS) provides a tool for individuals needing past tax information. This tool, IRS Form 4506-T, allows taxpayers to request a transcript of their tax records. The request becomes essential in situations such as applying for a mortgage [...]
**Headline:** IRS Offers Relief for Taxpayers Impacted by Spouses’ Debts Taxpayers across the United States often face unexpected hurdles during tax season. One common issue is losing part or all of their tax refund due to a spouse’s outstanding debts. Many individuals find this situation frustrating, especially if they have [...]
### IRS Tax Relief Forms Aid Taxpayers in Managing Debts The Internal Revenue Service (IRS) offers various relief options to assist taxpayers dealing with tax debt. These programs aim to help individuals manage their financial obligations, providing a structured path to resolve outstanding debts. Handling tax debt effectively requires understanding [...]
**IRS to Implement New Reporting Thresholds for 1099-K Forms from 2025** The Internal Revenue Service (IRS) has announced significant changes to the reporting thresholds for 1099-K forms, set to take effect in 2025. These modifications are expected to have a considerable impact on individuals and entities operating in the gig [...]
The Internal Revenue Service (IRS) employs the Federal Payment Levy Program (FPLP) as a significant measure to recover overdue tax debts. This program authorizes the IRS to seize federal payments to individuals and businesses that owe taxes. The program was developed in cooperation with the Department of the Treasury’s Bureau [...]
It’s vital for policymakers and the public to understand the implications of the latest Congressional Budget Office (CBO) projections regarding the full extension of the Tax Cuts and Jobs Act (TCJA). They reveal significant fiscal challenges that could impact budgetary considerations in the coming years. She highlights that extending the [...]
Acquiring professional tax resolution to reduce your debt can be a complex process, but providing the right documents is crucial to achieving success. The most important thing to remember is that the IRS will require detailed records of your financial situation in order to consider your case for tax resolution. [...]