The sale of debt is expanding from past due medical accounts and unpaid credit card balances to tax liens. The private investors who purchase these debts are usually much more aggressive with their collection efforts.
International travel is a necessity for many. It is often the only way to complete a deal or see loved ones in a home country.
The bad press went viral last September – Turing Pharmaceuticals had increased the price of a drug called Daraprim by 5,000 percent. The drug, used to treat malaria and toxoplasmosis, had cost $13.50 before Turing bought it. After the acquisition, patients who often need to take it daily have had to pay $750 per pill.
Open that letter from the Internal Revenue Service right away, because a notice of deficiency (NOD) is one way that the agency assesses taxes. Dealing with the tax bill sooner rather than later can avoid other collection activities.
Divorce filings spike at the beginning of the year. Depending on how long it takes to obtain a final divorce decree, you may still need to file taxes together for a year or two. If you did not control the family finances during marriage, unpleasant tax surprises might come up in the divorce process.
Turning the calendar into a new year invariably means tax changes. In today's post, we will update you on one of the new features in US tax law this year: the use of debt collectors from private industry to go after certain types of tax debt.
When the IRS freezes your bank account due to tax debt, it quickly makes your tax trouble especially urgent.
The new filing season is still a few months away. But it will be here soon enough, and you may already be worried about not being able to pay your taxes. Or you may have tax debt from the past that you haven't resolved yet.
In the first part of this post, we discussed several possible responses to a federal tax lien.
A tax lien doesn't take your property. Technically, a "levy" does that, not a lien.