If you get behind on debt in Austin, Texas, you may get contacted by debt collectors. Some lenders sell debts to third-party agencies who sue debtors. However, if a debt collector sues you, there are some steps you can take. Fair Debt Collection Practices Act (FDCPA)...
What time limits affect how the IRS can come after you?
Tax law can be complicated, so it's not surprising that people make mistakes or get tripped up trying to do the right thing, especially when their income is more complex than just the basics. If you have made a mistake on your Texas tax return, there are time limits...
Should you consider applying for an offer in compromise?
Each year, many adults throughout Texas must file their taxes. Unfortunately, sometimes, it's impossible to pay the IRS what you owe. If the IRS agrees that it's impossible for you to fully pay off your debt, you may be able to present an offer in compromise (OIC)....
Alternative ways to deal with back taxes
Sometimes, people in Texas find themselves in a difficult financial situation. They may not be able to pay their taxes in full and on time. Luckily, there are options available to them. The IRS is open to several different ways to deal with back taxes: installment...
E-filing regulations and small businesses
Business owners in Texas should know that the IRS is considering a big rule change. Rather than allowing mid-sized businesses to continue filing their W-2s and 1099s on paper, they may be forced to begin e-filing. This possible rule change is related to the Taxpayer...
Opting out of CTC payments could be beneficial
On July 15, over 35 million U.S. families received their first child tax credit payment. This payment is the first of six; families will receive these payments monthly. However, some families may choose to opt out of the remaining child tax credit payments; financial...
The IRS might flag you for an audit if you do these things
Not as many Texas residents receive audit notices as you might think, but the bad news is that this matters little if you're a recipient. There are ways to prevent the flags that IRS tax law throws up. Forgetting to declare income Even if it's just a small amount,...
What happens if your spouse cheats the IRS on his or her taxes
When both partners in a marriage have high-paying jobs, or even his or her own separate businesses, monetary secrets can sometimes occur. Such secrets can become dangerous if one spouse gets caught not reporting all his or her income in Texas. The Internal Revenue...
What happens if you don’t file your taxes?
The tax filing deadline comes up fast sometimes, especially for those who owe money to the IRS. Even with the extended deadlines in 2020 and 2021, many Americans have failed to file on time. If you find yourself in this situation, you are not alone, but you should...
How to handle IRS audits
You file your taxes hoping you did them right and you don't get that dreaded IRS audit letter. The word "audit' strikes fear in most every tax payer in Austin, Texas, but audits aren't that common. Even if you get an audit, most taxpayers don't know you can appeal...
