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Uh Oh! The IRS Filed an NFTL on me. What Do I Do? Plano TX

The Notice of Federal Tax Lien (NFTL) is a very powerful tool of the IRS.  When taxpayers have tax debt, one of the most common reasons they come to our Richardson, TX tax office is due to a tax lien. I will often be asked if I can contact the IRS and have the lien...

Plano TX – Why 2020 Might Be Time To Deal with your IRS Problems

If you’ve owed the IRS over the past 10 years, while you may not have been lucky to have an IRS problem, in general, we’ve seen a much less aggressive IRS in collecting tax debt.  As an Advocate for Taxpayers with IRS problems, I have found the IRS to be less...

Plano TX – How To Get an IRS Tax Lien Withdrawn!

Many of the Taxpayer’s coming into our Richardson, TX tax office with IRS Debt have a Notice of Federal Tax Lien (NFTL) or are under threat of an NFTL. As you’ve learned over the past few weeks, the Notice of Federal Tax Lien (NFTL) is a powerful tool of the IRS and...

Richardson TX – Tax Law Changes for 2019. What Will Impact You?

In 2017, Congress passed The Tax Cuts and Jobs Act (TCJA), which was the largest piece of tax legislation that we’ve seen in three decades. The new law had an impact on almost all taxpayers who came to our Richardson, TX tax office, as well as taxpayers throughout the...

Richardson TX – The IRS NFTL. What is the Impact?

When taxpayer’s come into my office in Richardson, TX related to IRS tax debt issues, threat of or Notice of a Federal Tax Lien is one of the major reasons.  Taxpayers often don’t understand the process, how a Tax Lien impacts them, and what they can do to avoid one...

Plano TX – How to calculate Insolvency for a Cancelled Debt on Form 982

Two weeks ago, I wrote that there are certain situations which permit the exclusion from Gross Income on a Taxpayer’s tax return, when they are the recipients of debt forgiveness that would typically be taxed. One of the options that permitted exclusion was for debt...