When you owe back taxes and can’t afford to make any payments, then it may be time for a special tax status known as currently not collectible. This means that your debt is still considered valid even though there’s no chance at recovery right now. When you’re approved for currently not collectible status, the IRS […]
When is a Roth conversion beneficial?
I get asked a lot about converting traditional IRA accounts to a Roth IRA. Here is a helpful article for those of you wondering but have not asked me yet. Is a Roth IRA conversion for me? Check out our blog www.westaxinc.com/blog for more tax tips and info. Contact us @ maurie@westaxinc.com or 941-893-1791 if […]
Do You Have Unfiled Tax Returns? Here’s What To Do.
Filing your taxes is never a fun thing to do, but if you don’t file them at all then the IRS will come calling. They have unbridled power to file a return on your behalf in theirs, not yours, best interest. They have powerful collection tools and an unforgiving nature that makes this one of […]
IRS provides $1.2 billion in relief for late filing penalties!
The IRS announced last week that it will help struggling taxpayers by abating/refunding $1.2 billion in penalties assessed to 1.6 million taxpayers on their 2019 and 2020 federal income tax returns! To qualify for this relief, any eligible income tax return must be filed on or before September 30, 2022. Find out more here: IRS […]
Do You Owe Money to the IRS? Possible Tax Resolution Strategies to Set Your Mind at Ease
Even for honest taxpayers, the IRS can be extremely frightening. Unlike most other government agencies, the IRS has unbridled power to attach your wages, freeze your bank account and even confiscate your property, and that is enough to send a chill up the spine of any taxpayer. If you receive a letter from the IRS […]
7 Reasons to Work with a Tax Resolution Professional To Resolve Your Back Taxes
When you owe money to the IRS, it is hard to think about anything else. While being in debt is never fun, no matter who the creditor is, the IRS enjoys almost unlimited power to collect the money they are due. Unlike your mortgage lender or credit card company, the Internal Revenue Service has the […]