If you fail to pay your federal income taxes (or what the Internal Revenue Service (IRS) says you owe), the government can use a variety of different tools to collect your tax debt. One of these tools is an IRS tax lien, which establishes a claim against your property. If you attempt to sell the
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Paying Contractors in Cash – The Potential Tax Penalties
What are the risks of paying contractors in cash? If you make cash payments to independent contractors, the first thing you should know is that there is nothing inherently illegal about doing so. Cash is still a perfectly good form of payment.If you have cash on hand and want to use it to pay your
IRS Tax Lien – Lien Withdrawal
IRS Tax Lien – Lien Withdrawal The IRS will place a tax lien on a taxpayer who has failed to pay a tax debt. By placing a tax lien on the taxpayer, the government has placed a legal claim against their property. This usually will result in restrictions in the ability to sell the taxpayer’s
IRS Tax Lien – Avoiding a Lien
IRS Tax Lien – Avoiding a Lien IRS Tax Lien – a dreaded word to the average American taxpayer. However dreaded the words are, many do not know what a tax lien is, or what to do when faced with the potential of having one placed against them. A tax lien occurs when the IRS