You’re probably wondering if there really are 5 ways to reduce a tax debt. It may come as a surprise, but the truth is that the law provides more than 5 ways to reduce (or avoid paying) the entire amount you owe. So, unless you love the idea of paying the IRS more than you …
Answer: Depending upon the specifics of your situation, it may be possible to avoid hundreds, or even thousands, of dollars in penalties simply by “designating” IRS installment payments applied toward your tax liability. Keep in mind that payments made in accordance with a formalized installment agreement are not considered voluntary, so you have no right …
IRS Installment Payments: Can I Avoid Back Tax Penalties Read More »
Getting behind on your tax obligations to the IRS is very stressful. Much of that stress stems from IRS collection notices. Not only is a delinquent taxpayer’s mailbox flooded with IRS mail, but that mail almost always contains scary, bolded “PAY NOW” demands, confusing language, and seemingly conflicting numbers. Clients often come to us overwhelmed, …
6 IRS Collection Notices You Absolutely Need to Notice Read More »
One of the biggest sources of anxiety for many who have fallen behind with their taxes is whether the IRS or state taxing authority will swoop in, zap their bank accounts, garnish their wages, and seize their home, investment accounts, or other assets. While this nightmare scenario can and does become a reality for some …
Notice of Levy: Will the IRS Seize My Assets Because of My Unpaid Taxes? Read More »
One of the very first things that any individual or business with a tax liability should consider is whether it is possible to obtain an IRS tax settlement that is less than the amount owed. Although it is not easy to reach a tax settlement agreement (aka Offer in Compromise or “OIC”) with the IRS—or …
Let’s face it. No one likes paying taxes. Consequently, it comes as no surprise that one of the very first things that many individuals and businesses who have fallen behind with taxes ask is: How do I get my tax debt forgiven? You might wonder whether it is even possible to get an IRS tax …
For many reasons, business tax debts tend to be far more dangerous than individual tax debts. This is primarily because the IRS and state taxing authorities use a completely different playbook when it comes to collecting unpaid taxes from businesses than they do when collecting from individuals. With individual tax debts, the government is …
I Have a Business Tax Debt: Can a Business Tax Attorney Help? Read More »
Anyone who has fallen behind on taxes–whether IRS or state—knows how quickly the liability can snowball. With the double whammy of penalties and interest on top of the tax, what started as something manageable can quickly turn into a huge problem. Consequently, it comes as no surprise that savvy tax debtors want to do whatever …
The IRS and most state taxing authorities have radically altered the way they collect unpaid taxes during the COVID-19 pandemic. Simply put, this is by far the kindest and gentlest IRS that I’ve seen in my lifetime. However—and this is a BIG however—things are going to change soon. For reasons that I will explain, this …
Special Tax Relief Opportunities During Covid-19 Crisis Read More »
With the brutal economic fallout of the COVID-19 pandemic, many people who owe taxes to the IRS or a state are wondering what to expect. It’s hard enough as it is for people to keep roofs over their heads and food on their tables. Should we also be worried that the IRS or state taxing …
Fortress Financial Services, Inc. is known nationwide for providing exemplary tax relief and tax resolution services. To avoid confusion with traditional financial services companies and to better describe ourselves with a shorter, more relevant business name, Fortress Financial Services, Inc. would like to introduce our new name: Fortress Tax Relief. Our team of tax relief professionals would like for our clients and …
Fortress Financial Services, Inc dba Fortress Tax Relief Read More »
As most people know, the IRS and state taxing authorities have a tremendous amount of power to collect unpaid taxes by way of enforced collections. “Enforced collections” refers to methods the government can use to collect unpaid taxes forcibly, and almost always involve taking something of value from an indebted taxpayer without the taxpayer’s consent. …
IRS Enforced Collections: Tax Levies & Wage Garnishments Read More »
If you owe the Internal Revenue Service money, your passport could be at risk right now and you might not even know it. Whether you already have your passport or you have just applied for one, if you travel abroad for any reason then you need to know if your delinquent taxes are about to …
It is not at all uncommon for people who owe money to the IRS to lose sleep at night worrying about all kinds of horrific things that could happen as a result of their unpaid taxes. Aside from oxygen, food and shelter are as fundamental as it gets in terms of basic human needs. So, …
It’s Not Easy Going Green: How Tax Blues Plague The Budding Marijuana Industry Since 2012, the legalization movement for cannabis has taken the country by storm. Starting with Colorado and Washington in the 2012 election, marijuana has now been legalized in 10 states over the past 6 years. Medical marijuana laws are in effect in …
Marijuana Business Tax Blues in Oregon, Washington, California & Colorado Read More »
Damon Roberts Interviews Vice President Michael A. Zacha of Fortress Financial Services Inc on Tax Resolution Services On December 8th, at 4 pm Eastern Standard Time (1 pm PST), Fortress Financial Services, an experienced national tax resolution services company with in-house tax attorneys, will be featured on Spotlight Television. Spotlight Television is a national television …
Most people who have had the misfortune of getting behind with the IRS have heard about tax settlements, otherwise known as Offers in Compromise (OIC), as a method for repaying far less than the full amount owed. Many fewer realize that there is an alternate method that can effectuate a similar result: the repayment of …
Many people who owe taxes to the IRS are terrified that the IRS will swoop in and take their retirement nest egg or retirement income, thereby leaving them destitute for their golden years. Can the IRS really do that? Generally, such assets are “off limits” to creditors thanks to federal protections. But they are not …
Can The IRS Take My 401K, Social Security, IRA, Pension & Retirement? Read More »
“The IRS took all the money out of our business bank account(s)?! How did this happen? What are we supposed to do now? I might as well shut down the business!!” It is panic inducing for a business owner to learn that the Internal Revenue Service has taken all the money out of their business …
21 Days to Recover Your Money (from an IRS Levy on Business Bank Account) Read More »
To most people, the Internal Revenue Service is a mystery. It collects taxes and can make your life miserable. But beyond that, how the IRS operates is relatively unknown. This is one of the reasons why, when an individual or business owes a significant debt to the IRS, sleepless nights ensue. Yes, dealing with the …
