What to Do When You Owe Back Taxes

By Jackie Johnson One of the biggest problems that you will face in your life is owing back taxes to the IRS. When you are facing this problem there can be devastating results. Many people find it difficult to function in their daily life, can’t sleep at night and have problems with other members of their family because of the stress that they are facing from the tax debt. There are steps you can take to eliminate this problem in your life, no matter what phase of the tax problem you find yourself. The first thing that you should do is get an expert on your side that can help you to negotiate with the government. Look for a firm that has the experience necessary to handle the Internal Revenue Service for your particular situation. If you are already receiving threatening letters from the government, the time to act is now. You should begin to solve your case, before the IRS begins to use levies, liens and garnishment against you to collect money that you owe. The representative that you choose should inform you of all your taxpayer rights when you are dealing with back taxes. Of course, you should continue to see the correspondence that is occurring on your case. When you are represented, you will not have to speak with the IRS. You should make sure that you check out the Enrolled Agent or CPA that you will be using you in your case with the Internal Revenue…

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How to Prepare Your Prior Year Taxes

By R Robson Folks get behind on preparing and filing their taxes for many reasons. Challenging times in their private life, short on money to pay their taxes. A friend of mine was undergoing a tough divorce. It was not the best of times in his personal life believe me. And around rolls in April 15th – the deadline for preparing and filing his taxes. He even had a difficult time figuring out whether to file jointly or separately – not to mention the challenges of talking with his wife concerning taxes. So the reality is filing a tax return is the very last thing on his mind. Did you know that the IRS is holding on to millions of dollars in refund cash from folks who never cared to file a tax return. Listed below are some points to remember should you be planning to prepare a prior years unfiled tax return: – You need to be current on your prior taxes to receive a refund on the current year tax return. For example to file a 2010 tax return, you should have filed all the prior years taxes. If you think you are going to get a tax refund this coming year, you should definitely must prepare and file your prior years tax returns to make it current. – You can file a prior year tax return for upto 3 years back and still get a refund. So lets say you did not file your 2008, 2009 and…

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