Search found 16 matches

by Rajneet
Sat Feb 29, 2020 12:23 am
Forum: Tax Help Forum
Topic: IRS Audit
Replies: 0
Views: 8874

IRS Audit

The IRS audit is an examination of individual/business accounts and financial information to ensure correct income and expenses were reported on the tax returns. The audit is conducted to ensure the correct amount of tax was paid to the government. The IRS generally can audit you for up to three yea...
by Rajneet
Tue Feb 18, 2020 10:44 pm
Forum: Tax Help Forum
Topic: How Can I Pay My Federal Taxes With Installments or Monthly Payments?
Replies: 0
Views: 7421

How Can I Pay My Federal Taxes With Installments or Monthly Payments?

Every year, there are millions of taxpayers who find themselves unable to pay their taxes in full to the IRS. The IRS knows there will be some taxpayers coming up short. The good news is the federal government is happy to work with you. The bad news is, they’re relentless in their collection of back...
by Rajneet
Thu Feb 06, 2020 9:13 pm
Forum: Tax Help Forum
Topic: New Social Security Suspension Scam
Replies: 0
Views: 7338

New Social Security Suspension Scam

I believe we all have received scam calls in order to extract money from us. The most popular scams have been the IRS calling you to seize your property. We have had many clients call our office in a panic that they are about to lose their assets because the person on the scam call threatened to sei...
by Rajneet
Mon Jan 27, 2020 8:56 pm
Forum: Tax Help Forum
Topic: Can an IRS tax debt cause a problem with the issuing or renewing of your passport?
Replies: 0
Views: 7308

Can an IRS tax debt cause a problem with the issuing or renewing of your passport?

The answer is YES!! Internal Revenue Code, (IRC) 7345, allows the IRS to notify the State Department of all taxpayers with a serious delinquency. The state department, upon the notice of a serious delinquency, can prevent an issuance of a new passport or the renewal your current passport. The IRS co...
by Rajneet
Wed Jan 15, 2020 8:27 pm
Forum: Tax Help Forum
Topic: Recent Success Stories
Replies: 0
Views: 7069

Recent Success Stories

At Lifeback Tax, our goal is help our taxpayers with a structured resolution based on their financial situation to elevate the burden of back taxes owed to the IRS/State. Each taxpayer is different and has its own unique story. We at Lifeback Tax work with taxpayers all across the United States and ...
by Rajneet
Mon Dec 30, 2019 9:51 pm
Forum: Tax Help Forum
Topic: 6 Myths About Tax Professionals
Replies: 0
Views: 7361

6 Myths About Tax Professionals

Myth #1: All tax professionals have basically the same training. The Truth: Not all tax professionals have the same training. A Tax Resolution Specialist, for example, undergoes a rigorous comprehensive training and participates in annual continuing education courses specifically dealing with IRS pr...
by Rajneet
Thu Dec 19, 2019 11:44 pm
Forum: Tax Help Forum
Topic: Tax Resolution and Your Finances: What is an Offer in Compromise?
Replies: 0
Views: 7279

Tax Resolution and Your Finances: What is an Offer in Compromise?

Owing money to the IRS can be frightening to say the least. It is easy to feel helpless in such a situation but you should not let fear and feelings of helplessness freeze you into inaction. Every day you wait is one more day interest and penalties are accruing, and those charges could balloon your ...
by Rajneet
Fri Dec 06, 2019 11:41 pm
Forum: Tax Help Forum
Topic: I have not filed my tax returns. What will happen to me?
Replies: 0
Views: 7855

I have not filed my tax returns. What will happen to me?

It is illegal not to file your tax returns every year by the due date which usually falls on April 15. If you have not filed your tax returns, it is just a matter of time before the IRS catches up to you. Remember, the IRS is the most powerful collection agency and getting on their bad side is never...
by Rajneet
Fri Nov 08, 2019 11:29 pm
Forum: Tax Help Forum
Topic: Why This Should Be The Year You Pay Off Back Taxes
Replies: 0
Views: 7467

Why This Should Be The Year You Pay Off Back Taxes

According to the IRS, more than 13.2 million Americans owe back taxes. The majority of these cases involve amounts that seem impossible to pay off. That leaves those tax-owing Americans in a difficult position. They want to pay, but they can’t, and the end result is feeling a lot of guilt about the ...
by Rajneet
Fri Nov 01, 2019 6:23 pm
Forum: Tax Help Forum
Topic: What is an Offer In Compromise?
Replies: 0
Views: 7271

What is an Offer In Compromise?

Offer In Compromise, known as an OIC, is a program by the Internal Revenue Service (IRS) which allows taxpayers to settle their unpaid tax liability for a lesser amount in order to clear their total tax debt owed. In order to qualify for an OIC, some of the basic requirements must be met such as: • ...