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Powell Tax Law Blog

Tax liens on your home

IRS Lien on Your Home? What Does that Mean and What Do You Need to Do?

There are nearly 10 million taxpayer delinquent accounts in the U.S. and for those who own their own home, the IRS may place a federal tax lien on the property to collect what you owe the government.

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Understanding IRS Penalty Abatement Standards

Tax Abatement
Some taxpayers may be surprised to learn that penalties assessed by the Internal Revenue Service (IRS) are not set in stone, and penalty aba...
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401(k) Early Withdrawals Come with Taxes, Penalties & Lost Future Gains

Calculator that reads Tax Penalty
The looming prospects of a recession in the U.S. later this year mean some Americans may eye their 401(k) retirement accounts as a cash life...
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Reminder: Report All Income Including Gig Economy Jobs and Tips to IRS

Waiter receiving tips
Paying taxes on your income in the U.S. used to be straightforward. Your employer provided you with a paycheck and did all the heavy lifting...
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