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When you marry your spouse, you do so for better or worse, and this often includes taxes. Those who file jointly are equally responsible for paying any balances owed. Even
Last month, the Biden administration fulfilled its campaign promise when it announced that it would be canceling student loan debt for millions of borrowers. It’s estimated that about 43 million
August is a busy month for many people. Kids head back to school and college. It’s also peak season for hurricanes and other weather-related issues. To help ease the financial
The term “abatement” means the ending, reduction, or lessening of something. Tax abatement, however, generally refers to the removal or reduction of taxes. There are several types of tax abatements,
Each year, millions of Americans owe federal income taxes. Although most taxpayers can pay on time, many find themselves with outstanding tax balances. When these tax debts go unpaid, penalties
The Internal Revenue Service (IRS) uses penalties to encourage people and businesses to file and pay their taxes on time. In fiscal year 2020, more than $14 billion was assessed
Did you know that there is an IRS statute of limitations that defines how long the government can pursue collections actions for outstanding tax debt? Generally, the IRS has up
