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Did you know that you could owe taxes on debt that was canceled? Well, you could. This is how it works. When you owe creditors money that you can't afford to repay, sometimes you may be able to get the debt forgiven or otherwise canceled. When this...

Whether it is a global pandemic shutting the economy down for months on end, a stock market crash that leaves formerly giddy investors frightened and nervous or a housing crisis that makes real estate a risky bet, living through tough economic times is never easy....

After years of flying under the radar, taxpayers who hold Bitcoin, Ethereum, Litecoin, and other cryptocurrencies are finally getting scrutinized by the IRS its time to come clean about taxes on cryptocurrency. The IRS has determined that cryptocurrency is here to stay and that the...

There have been a lot of stories about surprised taxpayers this year, and many of those surprises were decidedly unpleasant. Taxpayers who had received large refunds for years were shocked to find that they owed the IRS money this year, sometimes thousands of dollars in...

Small Business Owner: Owe Payroll Taxes? Here’s What to Do. The IRS takes unpaid payroll taxes seriously. These are some of the worst kind of back taxes you can owe. If you’re a small business owner with payroll tax problems, read on to learn what you...

Haven’t Filed Taxes in a While? How long has it been? 3 years? More? 10? Some people have never filed taxes. Why not?  “I knew I owed them, and I didn’t want to face the consequences.” “I couldn’t gather all of my records.” “My ex used to do them...