Taxpayers who are contacted by a private collection agency on behalf of the IRS might have questions about the program. These taxpayers can visit IRS.gov to find answers to questions they might have.

In fact, to better help these taxpayers, the IRS recently updated the private debt collection pages on IRS.gov. These updates added . . . → Read More: Private Collection Agencies – What You and Debtors Need to Know

11/14/19, the IRS issued guidance for taxpayers with certain deductible expenses to reflect changes resulting from the Tax Cuts and Jobs Act (TCJA).

Revenue Procedure 2019-46, posted today on IRS.gov, updates the rules for using the optional standard mileage rates in computing the deductible costs of operating an automobile for business, charitable, medical or . . . → Read More: IRS Updates Guidance for Deductible Business, Charitable, Medical and Moving Expenses

By Cathy Moran, Esq. (Redwood City, CA)

After bankruptcy, credit scores go steadily up, says a 17 year study released by the Consumer Financial Protection Bureau.

Got that? Go UP. Every year.

Importantly, credit scores start improving the same year that the bankruptcy is filed.

Think on that for a moment.

How collectors stoke . . . → Read More: Credit Scores Trend Upward After Bankruptcy