Unlike other forms of debt, tax debt carries unique enforcement mechanisms and can quickly grow through penalties and interest. However, taxpayers have legitimate options for addressing tax debt ...

This form must be submitted by creditors when they cancel a debt of $600 or more ... can help you prepare for your tax return ...

It is possible to cancel your 401(k) and cash it out while you’re still employed, but it comes at a cost. Andrew Latham, a ...

Image by Steve Buissinne from Pixabay April 14, 2025 - Sacramento – The Franchise Tax Board (FTB) reminds taxpayers that April 15 is the deadline for most Californians to file and pay their 2024 taxes ...

There is just under a week left before the official April 15 tax filing deadline. More than half of all expected federal tax ...

The Federal government will also provide student loan debt cancellation ... the 2022 loan cancellation amounts will be nontaxable for federal income tax purposes. That means that the amount ...

Decide which option is financially right for you. “Income tax and penalties significantly reduce how much you have to put toward your debt,” said Leslie H. Tayne, founder and debt management ...

If the IRS determines that you can't pay your basic living expenses and satisfy your tax debt right now, it will temporarily delay collections. Penalties and interest will still accrue ...

with penalties and interest piling up. As the debt reached $9,059, she feared it could spiral out of control, potentially doubling over time. Unsure where to turn, Tracy sought the help of Clear Start ...