The Business & Tax Law Resource Center
Legal Concepts Explained in Plain English
Arm yourself with the knowledge you need to make informed legal decisions.
Currently Not Collectible Status: IRS Collections Explained
'Currently Not Collectible' (CNC) status refers to a temporary pause in the active collection of a taxpayer's back tax liability. It is a status that the IRS assigns to a taxpayer's account when it determines that the taxpayer cannot pay any of their tax debt without...
Wage Garnishment: IRS Collections Explained
Wage garnishment is a legal procedure where a person's earnings are required by court order to be withheld by an employer for the payment of a debt (such as unpaid taxes). This article covers the intricacies of wage garnishment as a method of IRS collections, its...
Innocent Spouse Relief: IRS Collections Explained
Innocent Spouse Relief protects innocent spouses from being unjustly burdened with tax debts they did not incur. Innocent Spouse Relief allows a spouse to be relieved of responsibility for paying tax, interest, and penalties if their spouse (or former spouse)...
Tax Law
Currently Not Collectible Status: IRS Collections Explained
'Currently Not Collectible' (CNC) status refers to a temporary pause in the active collection of a taxpayer's back tax liability. It is a status that the IRS assigns to a taxpayer's account when it determines that the taxpayer cannot pay any of their tax debt without...
Wage Garnishment: IRS Collections Explained
Wage garnishment is a legal procedure where a person's earnings are required by court order to be withheld by an employer for the payment of a debt (such as unpaid taxes). This article covers the intricacies of wage garnishment as a method of IRS collections, its...
Innocent Spouse Relief: IRS Collections Explained
Innocent Spouse Relief protects innocent spouses from being unjustly burdened with tax debts they did not incur. Innocent Spouse Relief allows a spouse to be relieved of responsibility for paying tax, interest, and penalties if their spouse (or former spouse)...
Business Law
Stay in Control: Proper LLC Governance
Entrepreneurs often prefer an LLC business structure because it offers flexibility in management, protects owners from liability, offers significant tax benefits, and has less paperwork. Part of these benefits make it the better option than corporations requiring...
What is an Asset Purchase Agreement and When Do I Need One?
An Asset Purchase Agreement (APA), also referred to as an asset sale agreement or business purchase agreement, is a legal document that outlines the terms and conditions for the sale and purchase of an existing business or its assets. The APA you use should outline...