tax relief

Today, the Consumer Financial Protection Bureau (CFPB) announced that it is banning excessive credit card late fees, lowering the typical fee from $32 to $8. The rule that the CFPB finalized today will close a 2010 loophole exploited by credit card companies to charge consumers as much as $41 for a single late fee. This CFPB rule, however, is expected to face significant challenges from Republican lawmakers as well as corporate interests. Learn more about what this means for you in this episode.

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

⬇️ Free E-Book:
- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

The IRS recently announced in Bulletin IR-2024-56 that it is launching a new effort aimed at non-filers. As a part of this effort, 125,000 new non-filer cases will be opened. The IRS Commissioner said targeting non-filers will be a priority for the IRS. Learn more about what this means for you in this episode.

If you have unfiled tax returns or owe back taxes, book a free consultation with us at Choice Tax Relief by calling us at 866-8000-TAX (that's 866-8000-829) or by filling out the form at https://choicetaxrelief.com.

All of My Videos About Unfiled Tax Returns: https://youtube.com/playlist?list=PLH...

#taxes #taxreturn #taxreturns

Can you get a passport if you owe taxes? Can you renew your passport if you owe taxes? Find out in this latest episode from Choice Tax Relief's founder, Logan Allec, CPA!

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

⬇️ Free E-Book:
- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

Who is required to file a tax return? Does everybody who makes money have to file a tax return? If you make less than $10,000 do you have to file taxes? I answer these questions and give you the rules in this episode!

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

⬇️ Free E-Book:
- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

The IRS Collections Department has been on something of a break for the past couple years, but they're back in full force! And they recently announced that they will be playing some games when it comes to sending out the CP500 Series collections notices, but don't fall for it! They want to collect as much money from you as possible, and that's the long and short of it! Watch this episode for the latest updates on the IRS Collections Department!

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

⬇️ Free E-Book:
- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

If the IRS forgives your tax debt, is that considered TAXABLE INCOME under the tax code, thereby giving rise to MORE TAX LIABILITY? Do you really have to pay MORE taxes if the IRS settles your tax debt for less than you owe through an offer in compromise? In this episode, I answer these questions, showing you what the IRS says about this issue...and why!

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

⬇️ Free E-Book:
- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

If you're upside down on your car — meaning that you owe more on the car than it's worth — you may be wondering how that affects your offer in compromise or other IRS tax resolution options. The answer is fairly simple, and I get into it in this episode!

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

⬇️ Free E-Book:
- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

So you've received IRS Notice CP523 stating that the IRS intends to TERMINATE your installment agreement...what does this mean...can the IRS levy you immediately if you don't meet the deadline in the notice? I get into all of it in this episode!

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

⬇️ Free E-Book:
- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

If you've received the Letter LT38 from the IRS in the mail, you might be wondering what it is and what to do about it.  The LT38 Letter is the IRS's Reminder of Notice Resumption. Learn more about the LT38 Letter and what to do if you receive a LT38 Letter from the IRS in this episode!

⬇️ Free E-Book:
- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

In order to qualify for an IRS offer in compromise, you'll likely have to prove to the offer examiner or offer specialist that you have very little net monthly disposable income. This is very difficult (if not impossible) to do if you aren't actually paying for your basic living expenses, such as rent or a mortgage. While exceptions exist, it probably doesn't for the asker of today's question, who makes $130,000 a year and lives with his parents.

Watch All My Tax Relief Videos (Playlist): https://youtube.com/playlist?list=PLH...

State legislative leaders held a news conference on Jan.  24 to deliver a series of tax announcements aimed at bringing tax relief to Georgia families.

The first would increase the child tax credit from $3,000 to $4,000 per child. State Representative Lauren Daniel (R-Locust Grove) will sponsor legislation. With rising childcare costs, this legislation would allow for an extra $1,000 deduction per child, which could help alleviate some of those costs for parents.

State Representative Matt Reeves (R-Duluth) also introduced legislation that would bring home cost and interest rate relief to Georgia homeowners by doubling the homestead tax exemption from $2,000 to $4,000.

State Representative Lauren McDonald (R-Cumming) will sponsor legislation that would cut the state income tax from 5.75 percent to 5.39 percent. This measure would return another $1 billion to Georgia taxpayers.

Officials also announced they will remove the cap on the revenue shortfall reserve and offer taxpayers an additional $1 billion in relief on their income tax.

Call 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

The IRS has a 10-year time limit to collect tax debt called the IRS Statute of Limitations on Collections. Does contacting the IRS about an old tax debt reset this 10-year time limit? Find out and learn more in this episode!

Watch All My Tax Relief Videos (Playlist):    • Playlist 


Article Mentioned in the Video: https://choicetaxrelief.com/irs/statu...

If you need help with your back tax returns, email backtaxes@loganallec.com TODAY!  Or book a FREE unfiled tax returns consultation at https://calendly.com/choice-tax-relie...

If you haven't filed tax returns in a few — or several — years, chances are you may have to paper file some tax years. (After all, e-filing is only allowed for the last three filing years.) And so if you're faced with this back tax return filing situation, you may be wondering how to mail in the returns you have to paper file — should you mail each of the returns in a separate envelope? or is it OK to mail them all in one envelope? I address this very question in this episode!

➡️ Email backtaxes@loganallec.com to get help with filing your back tax returns!

⬇️ Other Relevant Videos
- How to File Back Taxes:    • How to File BACK TAXES, Avoid PENALTI... 
- What Happens If You Don't File Taxes?:    • What Happens If You Don't File Your T... 
- Tax Debt Relief Options Explained:    • Tax Debt Relief EXPLAINED: Here Are t... 
- IRS Statute of Limitations on Collections Explained:    • IRS Statute of Limitations on Collect... 
- IRS Offer in Compromise Tips:    • Offer in Compromise 2023: Get Your Of...  

If you owe back tax debt, call us now at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

Today's question comes from a self-employed taxpayer and new mom who was hospitalized with cancer and couldn't keep up with her tax filings and payments. Will the IRS show this woman mercy? I answer this question in this episode along with some ideas for you if you find yourself in a similar situation.

If you owe back tax debt, call us now at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

Today's question comes from a taxpayer who owes the IRS approximately $80,000. He's looking to get into an installment agreement with the IRS while avoiding the filing of a notice of federal tax lien as well as any limitations on his passport. In this episode, I answer this question.

If you owe back tax debt, call us now at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

So you filed an amended return, and it's still sitting on some desk at the IRS right now, waiting to be processed. Now it comes time to file your next year's tax return. Can you still file this next year's tax return now? Or do you have to wait until the amended return (Form 1040-X) is processed yet? Find out in this episode.

If you owe back tax debt, book a FREE tax relief consultation here: https://calendly.com/choice-tax-relie...

If you have an installment agreement with the IRS on your back tax debt, you may be wondering what happens if you file a tax return next year and owe more taxes that you can't pay. In this episode, I answer this exact question.

If you owe back tax debt, book a FREE tax relief consultation here: https://calendly.com/choice-tax-relie...

Many Americans, caught in the crypto bull run of 2021, liquidated assets in their retirement accounts such as 401(k)s and IRAs and took distributions from them that resulted in a large tax liability and in some cases significant early withdrawal penalties — with the goal of investing them into speculative cryptocurrencies. 2022 saw a significant crash in the cryptocurrency market, with many of these positions wiped out — but those who did this were still left holding the tax bag despite suffering large losses in their cryptocurrency portfolios. What are their options? Can they offset their 2021 income with their 2022 losses? If not, what else can they do? I answer these questions in this episode.

Call 866-8000-TAX or visit https://choicetaxrelief.com/free-cons... to book your FREE tax relief consultation!

Do you have a spouse who owes back taxes from before you were married? If so, this episode is for you. I answer one taxpayer's questions about what they should do in this very situation and touch on a variety of aspects of tax relief, from the IRS statute of limitations to how exposed the non-owing spouse's assets are.