Taxpayers who can’t afford to pay income taxes often request a payment plan or installment agreement to pay their taxes. An installment agreement is a payment option for those who cannot pay their entire tax bill by the due date. Once an IRS Payment Plan (also known as an Installment Agreement) is established, the IRS will not enforce collection action,... Read More
Back in 2010, Congress enacted a 3.8% surtax to cover the cost of health care reform that takes effect in 2013 no matter what lawmakers do on the Bush tax cuts. The betting right now is that this will not be delayed when Congress agrees to extend the expiring tax breaks. So as you contemplate our year-end tax planning, keep... Read More