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Federal Tax Liens Explained

Taxes are part of life, and as a business owner or self-employed individual, you’re responsible for paying your share. But what happens when you fall behind on paying taxes? Enter the federal tax lien—a serious matter that can impact your personal and business finances. Let’s break it down so you understand what it is, how …

IRS Letter 1058: Final Notice of Intent to Levy

Problem Statement: If you’ve received IRS Letter 1058, things are getting serious. This letter is an official “Final Notice of Intent to Levy” and your last chance to resolve your tax debt.  The IRS will take drastic collection actions like levying your wages or bank accounts. It’s essential to understand what this notice means and …

What the IRS CP504 Notice Means and What You Should Do

Problem Statement: Receiving a CP504 notice from the IRS is a serious matter. By this point, the IRS is stepping up its efforts to collect unpaid taxes.  Ignoring this letter could lead to drastic consequences. So, what is a CP504 notice, and what should you do if you receive one? What is a CP504 Notice? …