If you're like most people, you probably have no idea if you owe back taxes or not. The good news is that there are a few ways to find out. The bad news is that if you do owe back taxes, the penalties and interest can be pretty steep.
When...
Property ownership is complicated in many countries. Most folks can’t afford to purchase property outrightly, but it is easier to make periodic payments.
Countries with developed financial structures and secure financial institutions facilitate purchasing property. Most people acquire real estate through mortgage financing.
In making payments on your property, you might...
Tax relief is a policy or a program put in place to reduce the tax paid by businesses and individuals.
These programs are available to both individuals and businesses; however, the program one qualifies for depends on various factors, including their status with the IRS.
Do you have back taxes? Don't...
Times can be tricky. Especially after the Covid-19 pandemic, the cost of living skyrocketed, and this has seen many Americans struggle to make their ends meet.
Even with the government intervention, the situation has not been relieving to many. As a result, many citizens plunged into debt.
According to financial experts,...
A tax lien is a law imposed on a property, and the government uses it to secure payment of taxes. It is the easiest way to maintain discipline among citizens and make them responsible.
Many people question if one can purchase a house with a tax lien. Amazingly if the...
President Abraham Lincoln did establish the IRS agency in 1862. The agency operates under the US Department of Treasury.
Its primary purpose is collecting individual and employment taxes. Other functions of the IRS are handling the estate, excise, gift, and corporate taxes.
There have been various reports that President Joe Biden...
The decision to specialize in tax or audit is one that many accounting professionals grapple with at some point in their careers. They are both critical services that accountants can provide to their clients.
Though they share some similarities, some key differences set them apart. And while both specialties have...
Tax garnishment involves the IRS sending legal injunctions to an employer to seize a portion of their employee's wage to appease a tax debt. This way, they can recover the said debt automatically.
The employer will be obligated to deduct a percentage of your wage every payday to cover the...
In case you owe taxes to the government, the Internal Revenue Service (IRS) may pursue the collection of those taxes.
One of the ways the IRS may do this is by issuing a tax levy. Tax levies are a severe issue that no one ever wants to face. Unfortunately, sometimes...
The cryptocurrency industry has had a spectacular year, surpassing $3 trillion in market cap in November 2021. Bitcoin and ether, two of the most popular cryptocurrencies, also reached new highs.
As a result of its widespread acceptance, policymakers have placed a greater emphasis on cryptocurrency regulation as well as taxes...