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Tax Mediation News

  • IRS is Using Collection Company to Chase Delinquent Taxpayers; Here Is What You Need to Know

    Some old and overdue accounts, or those which cannot be collected because of lack of resources, that the IRS has stopped actively working on, can still be pursued by assigning them to Private Collection Agencies. Private Collection Agencies are private sector companies with expertise in debt collection efforts.  The IRS chose those firms who could be […]

  • IRS tax debt ever just go away


    Though the Internal Revenue Service is one of the largest arms of the U.S. federal government, its operations are conducted much like a very large business. Except in rare cases, there are time limits regarding tax collections. The reasons these time limits exist include coinciding with federal government appropriations and spending, adhering to Constitutional guarantees […]

  • Cryptocurrency Profits Are Taxable Income by the IRS

    Cryptocurrency Profits Are Taxable Income by the IRS

    Crypto currency holders, especially the Bitcoin ones, in the U.S. might be feeling great about the “free money” they’ve received from their investments. But, are they aware that cryptocurrency profits are considered taxable income by the IRS? As the IRS and other tax authorities examine cryptocurrency transactions like never before, it’s important to know how […]

  • Afraid of Tax Audits? Stay away from posting on Social Media.

    While attending IRS Nationwide Tax Forum in San Diego this year, we learned that in fact the IRS uses social media as part of their audit determinations. Moreover, the IRS may not only be using social media but also your private email as part of its data mining and analytics without your knowledge.   Is […]

  • Estimated Tax Deposits

    April 15 is the deadline for filing your tax return. For those who owe, there will be interest and penalties if you don’t pay those taxes on April 15th. However, for some tax payers, there may not be any penalties for balances under $1000. A tax expert will know the exact details to this and […]

  • Importance of Filing under the Correct Status

    It is important to have your name, spouse’s name, address and social security numbers correctly on your income tax return, just as is your filing status. The filing status box you check influences several things: Credits Deductions Filing Requirements Tax Rate Having all the correct information is also necessary to when it comes to computing […]

  • The Importance to Meet Tax Deadlines

    Everyone is familiar with April 15th as Tax Day, unless you’ve been living in another country, on another planet or under a rock, everyone is familiar with April 15th. For those individuals that typically get a refund, they look forward to this date. For those who typically pay in, they dread the date. Anyone that […]

  • Back Taxes Can Be a Pesky Thing

    You filed all your back taxes and now you owe money to the IRS.  Welcome to the club! Around 8.2 million Americans owed more than $83 billion in back taxes, penalties and interest. That’s about $10,000 per person. Furthermore, in that same year, the IRS already had 3.8 million existing delinquency investigations. It added 2.5 million […]

  • How to File Back Taxes with the IRS

    What to Know Before You Begin First and foremost, it is important to know that the IRS has an unrecorded policy about not prosecuting people that voluntarily file back taxes. This will be useful to know when you need to find data on taxes from years past. Nevertheless, it can be a completely different story […]

  • The Advantages of Seeking Help from a Professional Tax Relief Firm

    The number of Americans suffering from an unresolved tax debt is growing significantly every year. Also growing, is the number of Federal Tax liens and levies the IRS is filing. The IRS is typically persistent in their search to collect from those with outstanding tax debt. It can be extremely overwhelming and stressful for the […]