What If My Spouse Owes Back Taxes?

Getting married often means sharing numerous aspects of your life, such as your home, finances and even debt. If your spouse owes back taxes, understanding your liability risk is essential. At BC Tax, we have extensive experience navigatingĀ back taxesĀ for couples and individuals.Ā Contact us to learn moreĀ about how our services can provide peace of mind. What […]

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Can You Have Two Installment Agreements With the IRS?

If you cannot pay your taxes in full, the IRS provides the option of setting up a payment plan, known as an installment agreement, for that tax year. However, if you encounter a similar situation before your current agreement ends, you will not be able to establish another installment agreement without risking the terms of […]

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I Owe Back Taxes: What Are My Options for Resolution?

The Internal Revenue Service (IRS), state treasuries and local governments uphold firm tax due dates. Back taxes areĀ the funds you oweĀ after you miss a due date or submit less than your entire balance. Individuals and businesses accrue back tax balances for numerous reasons. Sometimes, your tax bill could be more than the amount taken from […]

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What Assets Can the IRS Seize?

The IRS uses various tools to collect back taxes, with asset seizure being one of the most serious. Under Internal Revenue Code 6331, if a taxpayer fails to pay taxes within 10 days of a notice, the IRS can seize their assets, including vehicles, artwork and jewelry. If you’re facing financial difficulties, BC Tax can […]

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What if You Can’t Pay Your Taxes?

What are the implications of failing to pay taxes? Is there any solution for those who cannot afford to pay? If yes, what are the options and processes involved? This guide answers these questions and discusses how a tax professional can assist. BC Tax helps people with challenges paying their taxes through effective, personalized and […]

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What Is IRS Letter 1058 or LT11 & How to Respond?

Communication from the IRS should always be taken seriously, especially if you receive Letter 1058 or an LT11 notice. These documents are your last chance to settle your tax debt before the IRS begins taking action to collect it. If you receive Letter 1058 or LT11, here are some things to remember before responding to […]

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