Tax Bracket written on a notebook on desk

Tax Brackets

By Bill Fay | January 8, 2020

The United States operates under a progressive tax code, which means — all things being equal — the more you earn, the more income taxes you owe. (Exceptions apply; we’ll…

Man confused about his tax debt

#1 Tax Debt Advice – Payment Plans & Forgiveness Options

By Bill Fay | February 12, 2019

As calendar dates go, April 15 doesn’t exactly create the heart palpitations of December 25, February 14 or even the Fourth of July. However, you can’t deny that April 15…

Questions asked about Tax Consequences

Tax Consequences of Debt Relief Services

By Bill Fay | February 5, 2019

If you used debt relief options – specifically, debt settlement – to escape severe financial problems last year, you’re probably still celebrating your good fortune. Slow down. The IRS has…

Two wooden figures representing people with solution in between them presenting the idea of compromise

Offer in Compromise: How to Settle Your IRS Tax Debt

By Bill Fay | February 4, 2019

What is an Offer in Compromise? An “Offer in Compromise” is a little-known but remarkably effective way that thousands of people in trouble with the IRS routinely eliminate tens of…

Man avoiding taxes with tax loopholes - Illustration

Tax Loopholes & Credits to Reduce Your Bill

By Bill Fay | January 22, 2019

There’s an old accountant’s joke about the difference between a legitimate tax deduction and a loophole. A legit deduction is the item you’re claiming. A loophole is the item your…

File Tax Return with cup of coffee

What to Do If You Did Not File Taxes

By Bill Fay | January 3, 2019

With the possible exception of trips to the dentist, filing tax returns is one of the least favorite things American adults have to do on a regular basis. Ignoring that…

Businessman looking overwhelmed while going over taxes

I Can’t Pay My Business Taxes: Consequences and Tax Debt Relief Options

By Bill Fay | December 18, 2018

Fledgling entrepreneurs usually focus on the bright side of their small business plans, not contemplating what to do if revenue nosedived and business taxes couldn’t be paid. Yet tax problems…

During a IRS tax audit - Text on top of people going through paperwork

What to Expect During an IRS Tax Audit & How to Prepare

By Max Fay | December 12, 2018

Slightly more than one million taxpayers faced an Internal Revenue Service (IRS) audit of their individual tax return in 2017, but that accounted for less than 1% of all returns.…

Filing income taxes with papers and charts

Income Taxes

By Bill Fay | December 6, 2018

Think of government as an engine and taxes as fuel. If you don’t fuel an engine, it won’t run, and if you don’t pay taxes, government can’t do the important…

How to Settle Your IRS Tax Debt

By Bill Fay | October 11, 2018

Death and taxes are life’s two great certainties but every year a sizeable number of people who owe the Internal Revenue Service act as if they don’t grasp the maxim.…