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Powell Tax Law Blog

Person preparing to pay taxes

Does the IRS Offer Installment Plans, and How Do I Get One?

It can be a helpless feeling when you get notice that you owe the Internal Revenue Service (IRS) any sum of money, but it can be especially bleak to be staring at the prospects of writing a large check for the taxes that you owe. The good n...

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What to Do If a Spouse Leaves You with a Surprise Tax Debt?

Divorce
The United States divorce rate fell to a 50-year low in 2019, but even with that decline it still left 1.5 million Americans reeling from th...
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Understanding the Trust Fund Penalty

Tax Implications
When it comes to IRS terms, “trust fund penalty” sounds like an oxymoron, but the phrase has more to do with FICA than it does with Ferrari’...
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Major Tax Changes for 2022

New 2022 Tax Laws
When we think of important tax dates, April 15 always comes to mind – after all, the traditional IRS tax deadline day is usually the culmina...
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