For a discussion of what constitutes a valid debt, refer to Publication 550, Investment Income and Expenses and Publication 334, Tax Guide for Small Business (For Individuals Who Use Schedule C) . Generally, to deduct a bad debt, you must have previously included the amount in your income or loaned out your cash. If you're a cash method taxpayer (most individuals are), you generally can't take a bad debt deduction for unpaid salaries, wages, rents, fees, interests, divid ...
Not sure how to cover your tax debt to the IRS? Consider these options.
If you owe a tax debt and can't pay all or part of it, the IRS can help. You have options to resolve your tax bill. ; Can you pay your balance now? Pay in full. ; Pay what you can now to help avoid interest and penalties. Then choose one of these options:
Owing the IRS a tax debt can be stressful but there are ways to get help now. Here's what to know.
Learn the best ways to resolve your IRS tax debt through payment plans, offers in compromise, and other relief options
If you're burdened by tax debt don't despair. A tax relief expert can help you today.
With tax time looming, you may be wondering how to handle your tax debt. Here are four ways to consider.
The U.S. Internal Revenue Service on Tuesday sued the Federal Deposit Insurance Corporation, asking a judge to determine how much the FDIC must pay to cover an estimated $1.45 billion tax debt owed...
Tax Debts in BankruptcyWhen you are sure just how much you really owe to Canada Revenue Agency (CRA) (formerly Revenue Canada) and have considered less serious solutions, your final possibility is...
The IRS is starting to issue tax refunds on up to $10,200 of unemployment benefits received last year. Those with past-due debt may not see any money.