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Substantiation refers to the documentation required to support claims for deductions and/or credits on your tax returns – and it’s a critical aspect of tax compliance that can lead to major disputes between the taxpayer and tax authorities. The IRS (and other tax...
Millions of Americans are currently struggling financially, and the reality is that anyone can fall behind on taxes. Facing tax debts can be overwhelming, which is why the IRS has a system known as “offer in compromise”. This allows qualifying debtors to pay a...
As a United States taxpayer, you may sometimes find yourself lagging behind on your tax payments, which can result in significant penalties and interest charges. Fortunately, the IRS offers several tax installment agreements to help you pay your tax debt over time....