Ploeg and Brown P.C. Owing back taxes to the IRS can be a daunting financial and emotional burden. The IRS has extensive powers to collect unpaid taxes, including wage garnishment, bank account levies, and property liens – all without requiring a court order. Moreover, penalties for non-payment can accumulate rapidly, potentially reaching up to 25%…
Ploeg and Brown P.C. What to Do About Unfiled Taxes and How to Deal with Back Taxes If you have unfiled tax returns, it’s crucial to address them promptly to avoid severe consequences. Here’s how you can handle unfiled taxes and manage back taxes effectively. Can I Lose My Tax Refund If I Don’t File…
Ploeg and Brown P.C. Tax season may conclude, but the potential for IRS penalties and interest lingers year-round. Familiarity with these charges empowers businesses and individuals to make informed decisions and potentially avoid significant financial repercussions. This article provides a comprehensive overview of common IRS penalties and interest, along with guidance on when to seek…
Ploeg and Brown P.C. When you have outstanding tax debts, the Internal Revenue Service (IRS) has the authority to issue a tax lien against you. If you’ve received correspondence indicating that the IRS is considering or has filed a tax lien, it’s crucial to understand the implications and take appropriate action. A tax lien is…