Can the IRS Seize a Legal Settlement If You Owe?

Can the IRS Seize a Legal Settlement If You Owe?

Key Takeaways  The IRS can seize or levy settlement funds if you owe back taxes, but the risk depends on the type of settlement and whether it is taxable.  Personal...

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Active-Duty Military Tax Benefits: What You Can Deduct and How to Qualify 

Active-Duty Military Tax Benefits: What You Can Deduct and How to Qualify 

Key Takeaways:   Combat pay and certain allowances are tax-free, including Basic Allowance for Housing (BAH), Basic Allowance for Subsistence (BAS), and Overseas Cost of Living Allowances (COLA).  Active-duty members...

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How to Apply for the IRS Fresh Start Program 

How to Apply for the IRS Fresh Start Program 

Key Takeaways   The IRS Fresh Start Program offers multiple relief options to help taxpayers settle or manage back taxes more affordably.  Eligibility depends on your tax debt balance, filing...

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