Income Unchained

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CORRECTION: They didn’t steal $83,500… they tried to (which makes it worse)

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Yesterday I sent you an email about two clients who were victimized by tax resolution predators. I need to correct something important, and it actually makes the story more disturbing. WHAT REALLY HAPPENED:  Client #1 didn't lose $35,000. She paid $10,000 and they were demanding another $25,000. Client #2 didn't lose $48,500. He paid $500 and they were … [Read more...] about CORRECTION: They didn’t steal $83,500… they tried to (which makes it worse)

Meet The Collector: The Tax Underworld’s Most Ruthless Villain

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The Call That Changed Everything The phone rang at 6:47 AM on a Tuesday. Emergency calls always come early. "Carlos, they froze everything. My business account, personal savings, even my daughter's college fund. I can't make payroll. I can't buy groceries. What do I do?" Sarah's voice cracked like someone in shock. In my EMT days, I'd heard that exact tone from … [Read more...] about Meet The Collector: The Tax Underworld’s Most Ruthless Villain

How Smart Entrepreneurs Never Get Blindsided by Estimated Tax Penalties

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While you're out there building your empire, the IRS has a special trap waiting for entrepreneurs who think they're too smart to get caught. It's called the estimated payment penalty. And it's designed to bleed you dry, one compound interest charge at a time. Here's what they don't tell you: Most business owners are paying these penalties because they're playing a rigged … [Read more...] about How Smart Entrepreneurs Never Get Blindsided by Estimated Tax Penalties

“Can the IRS Really Take My Entire Social Security Check?”

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Question from Maria in Phoenix:"I’m 67 and on Social Security. My accountant says I owe $15,000 from 2019. Can the IRS take my monthly payments?” Short answer: Yes—and it can get worse than you think.But only if you let it. 1. The Usual Rule: 15% Levy on Social Security Most people think the IRS can only skim 15% off their Social Security check, and that’s mostly … [Read more...] about “Can the IRS Really Take My Entire Social Security Check?”