Back Taxes Or Tax Debt

If it doesn’t automatically qualify as a Minnesota business owner’s worst nightmare, it’s got to be a ranking contender. “It” is an official notice from the Internal Revenue Service or the Minnesota Department of Revenue — or, in a worst-case scenario, both — stating that a business will be examined for tax-related issues. Many businesscontinue reading…

It certainly doesn’t qualify as anyone’s favorite mailing. In fact, receiving a letter from the Internal Revenue Service demanding payment for alleged tax debt can spoil the rest of the day for virtually any person in a heartbeat. What do you do with such a communication? Well, you can of course pay the full amountcontinue reading…

The tax code in the United States is extremely complex. People generally have only the basic understanding that they need to pay taxes, and going through the steps to file a return can be quite stressful, particularly if someone has multiple sources of income and/or a business. The process of completing an accurate return cancontinue reading…

Here’s a hypothetical — and, in many instances, a reality — for some taxpayers in Minnesota and nationally: As an honest and conscientious person, you want to fully satisfy your currently owed tax debt, but you absolutely know from staring at the amount demanded that you cannot write a check to cover it. What cancontinue reading…

Although the Internal Revenue Service is often regarded by American taxpayers as a stern and uncompromising agency (with that view obviously being justified in many millions of cases), that does not mean that the IRS is flatly unwilling to engage in good-faith negotiations and compromise on alleged tax debt owed in select instances. Minnesota filerscontinue reading…