What You Need to Know About IRS Bank Levies When dealing with unpaid taxes, one of the most significant and immediate consequences can be an IRS bank levy. This powerful enforcement action allows the IRS to legally seize funds directly from your bank account to satisfy outstanding tax debts. Understanding how an IRS bank levy […]
Affordable Newsletter – July 2025
How the IRS Calculates Interest on Tax Debt Understanding how the IRS calculates interest on tax debt can help you avoid financial surprises and make better decisions if you owe money to the government. Unlike penalties, IRS interest compounds daily and is tied to market-based rates that adjust quarterly. In this article, we’ll break down […]
Affordable Newsletter – June 2025
Back Taxes and Divorce: Who Pays What? Many divorcing couples are surprised to learn how complex and persistent IRS debt can be, especially when it’s tied to years of joint tax filings. The question of who pays what isn’t always as simple as looking at a divorce decree or who earned more money. Read More […]
Affordable Newsletter – May 2025
Moving to a No Income-Tax State? Watch Out for These Hidden Tax Costs The promise of a state with no income tax can be incredibly appealing—especially for individuals coming from high-tax states like California, New York, or New Jersey. However, there may be hidden tax costs you need to understand before moving to a no-income-tax […]
Affordable Newsletter – April 2025
When Does the IRS Pay Interest on Tax Refunds? The IRS typically processes tax refunds quickly, but in some cases, there can be delays. When these delays occur, taxpayers might wonder if they’re entitled to interest on their refund. The IRS does pay interest on tax refunds under specific circumstances. However, the rules governing when […]
Affordable Newsletter – March 2025
What Are Capital Gains? Capital gains represent the profit earned when an asset is sold for more than its original purchase price. This concept is crucial for investors, homeowners, and anyone involved in the buying and selling of valuable assets. Understanding how capital gains work and their tax implications can help individuals and businesses make […]