Can the IRS Garnish Your Social Security?
Can the IRS Garnish Social Security? Yes. The IRS can garnish—or more accurately, levy—certain Social Security benefits if you owe delinquent federal taxes and fail to resolve your balance. Unlike
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Haven’t Filed Taxes in 5 Years? Here’s What You Need to Do Next
What Happens If You Don’t File Taxes for 5 Years? Failing to file taxes doesn’t make the problem disappear. In fact, the longer you wait, the more complicated your situation
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Common Reasons Tax Relief Cases Take Longer Than Expected
Why Tax Relief Cases Can Take Longer Than Expected No two tax situations are exactly alike. Some cases are resolved in a matter of weeks, while others may take several
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What Is Form 1041 & Who Uses It?
What Is IRS Form 1041? IRS Form 1041 is the federal income tax return used to report income earned by a deceased person’s estate or certain trusts. Once someone passes
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What Is the Education Freedom Tax Credit? A Guide to the New Federal Tax Credit for K-12 Scholarships
What Is the Education Freedom Tax Credit? The Education Freedom Tax Credit (EFTC) is a federal incentive that encourages private donations to nonprofit organizations that award K-12 educational scholarships. Instead
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IRS Form 2290: What It Is & When to File
What is IRS Form 2290? IRS Form 2290 is used to report and pay the Heavy Highway Vehicle Use Tax (HVUT) for motor vehicles with a taxable gross weight of
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IRS Insolvency Exclusion: What Is It?
What Is Canceled Debt? Canceled debt, also known as forgiven debt or cancellation of debt (COD), occurs when a lender forgives all or part of a debt that you are
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