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House flipping—buying homes at a low price, fixing them up, and selling them quickly for a profit—can be a great way to make money. But it can also lead to big problems with the IRS if you're not careful. Many house flippers get into trouble because they don’t fully understand the tax rules. If you’re in this situation, it's important to know where things can go…
Receiving a letter from the IRS is never a pleasant experience, especially when it's a CP1058. But don't panic! Understanding what this letter means and how to respond can make a big difference in how you handle the situation. What Is a CP1058 Letter? A CP1058 letter is a final notice from the IRS indicating their intent to levy, which means they plan to seize your…
Receiving a CP71a letter from the IRS is more than just a reminder—it's a warning that your tax debt is growing. The CP71a letter is sent annually to remind you that you still owe taxes, and with each passing day, interest and penalties continue to pile up. If you've received this letter, you need to act fast. Here’s what it means and why you can’t afford to wait. What…
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