Tax Money, IRS

How Do I Know If I Owe the IRS?

Even a simple matter like figuring out how much you owe can be complicated when it comes to the IRS. Learn three ways to determine if (and how much) you owe the IRS, with helpful tips on what you can do once you know your real balance.

Individual income tax return form

7 Answers to Frequently Asked Income Tax Questions

Money Girl answers 7 common questions about paying income tax that will help you comply with the law, minimize what you owe, understand tax deductions and credits, pay household workers or nannies properly, and avoid trouble if you can’t pay Uncle Sam on time.

1040 Tax Form with Refund Check and Cash

Where’s My Tax Refund?

It’s that time of year again! Federal income tax season officially opens on January 27, 2020. That’s the first day that taxpayers can file their taxes in hopes of getting their refund as early as possible. Millions of Americans rely on their annual tax refund to pay off debt, make key purchases and, unfortunately, just […]

Individual income tax return form

IRS Fresh Start

If you are struggling with tax debt and feel like it’s an endless journey, your situation may not be as dire as you think. The IRS Fresh Start initiative was created to make it easier and more accessible for people to repay or settle their tax debt. Taxes often seem overwhelming and over-complicated, like a […]

Innocent Spouse relief is unique, because it’s one of the few ways you can qualify for full tax forgiveness.

IRS Innocent Spouse Relief

When it comes to back taxes, the IRS doesn’t let an unpaid debt go easily. In truth, there are very few ways to qualify for tax debt forgiveness – even partial forgiveness. That makes Innocent Spouse relief unique, because it’s one of the few ways you can qualify for full tax forgiveness. What is Innocent […]

Woman worried about tax related identity theft due to her father-in-law.

Back Taxes: End Your Challenges with Unpaid Tax Debt

What are back taxes? Back taxes are any taxes that you owe that remain unpaid after the year that they are due. Basically, if you let an entire filing year go by without paying the IRS what you owe, it’s considered “back taxes.” It’s important to note that even taxes you don’t pay within a […]

I’m curious about what receipts to keep for taxes

Tax Debt Consolidation

When you want to consolidate unpaid tax debt from multiple years into a single repayment plan, you typically use an installment agreement (IA). We explain how this differs from credit card and student loan consolidation and how it works.

aking the right steps in the run up to your bankruptcy filing

Does Bankruptcy Clear Tax Debt?

Both IRS and state tax debt can be discharged during bankruptcy, but the amount you end up paying depends on your financial situation and the chapter you file.