CEO David King and Lead Tax Attorney Phil Hwang reconvene to continue the discussion on IRS installment agreements. In this episode of The Tax Show for People Who Owe, the hosts discuss solutions to unaffordable payment plans. What should you do if you can’t make a payment? Tune in for suggestions.
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Paying an IRS liability in full isn’t always an option. This is why the IRS offers installment agreements, or payment plans, to help taxpayers pay off their debt. For this week’s episode, CEO David King discusses installment agreement options with Lead Tax Attorney Philip Hwang.
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Penalty abatements provide relief from IRS tax penalties. How do you know if you’re eligible? If you are looking to resolve your tax burden with the IRS, you may qualify for a penalty abatement. Optima CEO David King and Lead Tax Attorney Philip Hwang discuss the two most common circumstances that would qualify you for penalty relief.
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The IRS backlog has caused delays in millions of tax refunds, but not all refunds are delayed due to the pandemic. Lead Tax Attorney Philip Hwang and CEO David King discuss how you can avoid refund delays when you file and how your refund may be affected by various circumstances.
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The state of the economy can be detrimental to your IRS or state tax liability. What exactly happens to your tax debt during inflationary periods? CEO David King and Lead Tax Attorney Phillip Hwang discuss the difference in interest rates, deadlines, and what to do if you find yourself in this circumstance.
Many taxpayers rely on Social Security to get by after retiring. Unfortunately, taxpayers with outstanding tax liabilities may be at risk of a levy on their retirement funds. How much can the IRS take and what should you do? CEO David King and Lead Tax Attorney Phillip Hwang discuss everything you need to know about Social Security garnishments.
