In many cases, taxpayers can potentially use bankruptcy to stop IRS forced collection. Navigating the murky waters of tax debt can be daunting, especially when the IRS is involved. Fortunately, bankruptcy can be a lifeline for those struggling under the weight of tax...
Commercial debt is business debt. On the other hand, most non-business debt is considered consumer debt. Businesses borrow for a variety of reasons. It takes money to make money, and not every company has a line of venture capitalists lined up around the block to help them out....
Debt relief agencies assist individuals and businesses who are struggling with debt. These organizations offer a range of services that can help people manage their finances, reduce their debts, and solve long-term financial problems. These businesses typically work with...
Non-consumer debt is a term that's synonymous with business debt. It's any kind of debt that isn't for personal or family finances. There are a lot of different debt terms that people need to know. Buzzwords like "good debt" and "bad debt" are constantly used by personal...
Though not all Americans are okay with how income tax is spent, we all look forward to the time that we’ll receive a refund from Uncle Sam (the IRS). The thought of the Internal Revenue Service issuing you a refund is nothing more than an early Christmas present. The biggest...
It’s almost the end of the year and the taxman is beginning to collect. For a taxpayer, there’s nothing more depressing than receiving collection notices from Uncle Sam. It’s even more depressing when you know you can’t afford what they are asking. So, what should you do? In...
When you have unsettled tax debt, the Internal Revenue Service (IRS) has the legal obligation to follow you up and claim the money. Sometimes, it may mean compelling your employer to hold a part of your wages until the debt is cleared. This is what happens during an IRS wage...
For an entrepreneur, you can’t always have money for daily stock. Sometimes, you have to get someone to supply you on credit. So, debts are ordinary in the business world. Of course, no debt is good debt for it has to be paid. It’s even more problematic when you owe the...