Apr 22

How to Refinance with a Tax Lien

A tax lien on your property makes tax lien refinancing complicated at best, and often unattainable at all. The tax lien must be resolved and removed, or a request for the lien to be made secondary to the loan on the property may be submitted to the IRS. It’s common for taxpayers to have at […]
Apr 1

How to File an Amended Tax Return – IRS Form 1040X

Discovering new income information after a tax return has been filed can be confusing for many taxpayers.This prompts the need to file an amended tax return.Taxpayers often wonder if they should inform the IRS of the change in the first place or if that will prompt additional scrutiny on other tax returns.While some changes don’t […]
Apr 1

Tax Preparation – Settling Up with the IRS

Walter Wotmanby Walter Wotman, CPA

At the end of the year, it's time to watch the dust settle on all of your financial transactions. From making the money, to spending the money, to investing the money, taxes are sprinkled on almost every financial move we make. It's very rare to pay exactly how much you owe over the year. Filing a tax return summarizes for the IRS what you've done financially in a given year, in order to be sure that you have paid what you owe in taxes for your financial decisions and/or to be sure that you didn't pay too much. It's essentially a way to "settle up" with the IRS on a yearly basis.Read More

Apr 1

How to Negotiate with the IRS

Can I Negotiate Myself?

The short answer is yes, you can negotiate with the IRS. You can work with the IRS directly and successfully to complete a tax settlement, but taking advantage of a free consultation from a qualified professional before you start is a good way to get a favorable settlement that you can live with. Deciding on going alone, or working with an IRS certified and approved Enrolled Agent or a qualified Tax Negotiator can be a difficult choice to make. But working with someone who has experience can make a huge difference in the outcome of the negotiation and the amount of your settlement.Read More

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