Not having the funds available to cover a tax bill can feel devastating. For some individuals in Atlanta and elsewhere, this scenario can haunt them for some time. Fortunately, there are ways for individuals to address outstanding tax debt rather than feeling as if...
Tax Debt
When a homeowner faces a tax lien, it is time to take action
Having unpaid taxes is a serious situation. Most Atlanta residents do not intentionally end up with tax debt, but it can happen to anyone for a multitude of reasons. Unfortunately, if individuals do not pay their outstanding taxes, a tax lien could come against their...
Tax debt could lead to a number of problems for taxpayers
Many people have taxes withheld from their paychecks, which means that they will owe less to the IRS when it is times to pay taxes or that they could receive a refund if they have paid in too much. However, when individuals do not have enough taxes withheld by their...
You should only pay the amount of tax you actually owe
It should go without saying that you only have an obligation to pay the amount of taxes you actually owe. The question that arises more often than you may realize is exactly what that amount is. The fact is that parties on both sides of the issue can make mistakes or...
Currently not collectible status could help with tax debt
Taxes are one of the inevitable obligations that working adults in Atlanta and across the country have to face. Though most people try to stay on top of their taxes and do their best to pay when necessary, financial complications could result in individuals accruing...
What can you do if you don’t qualify for innocent spouse relief?
In a recent article, this blog discussed how to qualify for innocent spouse relief (“Could innocent spouse relief help with tax debt?” May 5, 2020). The problem is that not everyone will qualify for this type of relief from a spouse’s tax debt. If you attempted to...
Could innocent spouse relief help with tax debt?
It is common for married Atlanta couples to file their taxes jointly. It can help them complete their taxes more quickly and even obtain better tax credits that could help lower their liabilities. However, it is possible that one spouse could withhold information on a...
Could failing to file and pay your taxes end in wage garnishment?
When you go too long without paying on a debt or when you incur liability for someone else's losses, those individuals can potentially take you to court and secure a garnishment of your wages. Garnishments are effective ways to help creditors collect money. They...
How much of your paycheck can the IRS levy or garnish?
When a private business brings a lawsuit against someone who has failed to pay a debt, the courts may rule in their favor and order a garnishment of that individual's wages. When the Internal Revenue Service (IRS) does the same thing to recover unpaid tax balances,...
Is it true that tax debt can be discharged in bankruptcy?
Chapter 7 of the bankruptcy code offers full discharge for your allowable debts. In Chapter 13, you can repay some debts through a court-approved payment plan, and the remaining obligations will be eligible for discharge. Chapters 7 and 13 manage tax debt in the same...