Tax Glossary
Learn about common tax terms and concepts.
View Glossary →Frequently Asked Questions
Find answers to common questions about our tax services.
- What is Tax Investigation Online?
- It is our self-serve portal at ti.alter.tax. You authorize IRS Form 8821 so licensed professionals can review transcripts already on file — balances, missing returns, and collection risk. It is a file review, not automatic IRS representation.
- What is tax resolution?
- Tax resolution is the process of resolving tax issues with the IRS or state tax authorities. This can include negotiating payment plans, settling tax debt, or defending against audits.
- How can I reduce my tax debt?
- There are several ways to reduce tax debt, including setting up an installment agreement, applying for an Offer in Compromise, or requesting Currently Not Collectible status. Our tax professionals can help you determine the best option for your situation.
- What is tax planning?
- Tax planning involves analyzing your financial situation to minimize tax liability. This includes strategies for deductions, credits, and timing of income and expenses.
- When should I start tax planning?
- Tax planning should be done year-round, but it's especially important to start early in the year to maximize opportunities for tax savings.
- What documents do I need for tax preparation?
- Common documents include W-2s, 1099s, receipts for deductions, investment statements, and previous year's tax returns. The specific documents needed depend on your individual situation.
- How can I protect my business from tax issues?
- Regular tax planning, proper record-keeping, and working with tax professionals can help prevent tax issues. It's also important to stay compliant with all tax filing requirements.
Tax Blog
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