If you are already wallowing in a mire of huge tax debt, you don’t have to brood endlessly over this. Getting out of the situation should be the first thing on your mind. And the good news is, you can pay your tax debts—no matter how much you owe—and move on with your life....
The longer you wait to pay back taxes, the more interest and penalties can accrue. And if you have tax debt, the IRS can take matters into its own hands to collect money from you. That's why it's so important to solve your tax debt now. Reach out toAnthem Tax Servicesto get start...
Once approved, your tax liability will decrease almost immediately. This makes it much easier for you to quickly budget your path to financial stability. It’s also simply a stress-saver. Reducing the amount of tax owed gives you more breathing room to pay off other liabilities and basic livi...
How to Settle Your Tax Debt by Negotiating a Payment Plan with the IRSMichael Rozbruch
Tax debt can quickly get out of hand if you put off dealing with it. If you fail to pay on time, the IRS will tack on penalties and interest to your outstanding balance. The monthly interest is equal to the federal short-term rate plus 3%.1 The monthly penalty for not paying on tim...
Feeling depressed and out of control with your finances. Staying up at night, worrying about how you will pay your bills. Unable to get the things you need There are many reasons we fall into debt: failed marriages, student loans, buying a new car, or simply mismanaging money. Whatever ...
How to get out of debt fast When it comes to getting out of debt quickly and regaining financial freedom, you have several options. Some of these are as simple as increasing your monthly payments while others may require more planning, such as budgeting. ...
How to get out of debt on a low income "If you're in debt and have a low income, it's important you have a plan to get out of it," says Steve Azoury, ChFC® and owner of Azoury Financial. Here are a few things to consider as you develop your plan: ...
To calculate your effective tax rate you need two numbers: your taxable income and the total amount you paid in taxes. Key Takeaways Knowing your effective tax rate can help you understand how well you’ve been managing your tax situation throughout the year. Your effective tax rate is diffe...
Or maybe your spending just got out of control for one reason or another. Whatever it is, you need to determine what went wrong before you can make it right. How Much Debt Do You Owe? Surprisingly, many people in debt don’t know exactly how much they owe. If you’re paying just...