If not managed correctly, back taxes can spell the end for a business. The good news is that most small businesses with back taxes can work things out with the IRS if they understand how the tax collection process works and are ready to negotiate. If your business owes money to the IRS money, consider these steps.

A federal tax lien is the IRS’s way to get the attention of delinquent taxpayers. It works. When the IRS files a federal tax lien against you, it holds a claim on everything you own and anything you may acquire in the future until you repay your taxes. That’s just the beginning. Once the IRS has a tax lien on your property, it can start to levy (i.e., empty) your bank accounts, sell your property, take possession of your vehicles, and even garnish your wages. The good news is there are steps yo you can take, such as setting up an installment plan, applying for an offer-in-compromise, or requesting a certificate of subordination.

The IRS no longer offers taxpayers its e-filing PIN (Electronic Filing Personal Identity Numbers) tool. The feature offered an alternative signature verification when filing tax returns electronically. Why has the IRS decided to remove this security feature?

Personal loans are on the rise. Americans have over $1.6 trillion spread over 19.5 million personal loan accounts (source). That is not to say personal loans are easy to get. Lenders are, once more, tightening credit requirements.

Having bad credit creates a Catch-22 situation for consumers. If you have bad credit, you don’t get approved for new credit; and without new credit, it’s hard to improve your bad credit.

Everybody expects you to mess up during your roaring 20’s. After all, you still have time to set things right. Making money mistakes when in your 30’s is another matter altogether.

Shares for the Chinese e-commerce giant, Alibaba, opened at $92.70 a share on the New York Exchange last Friday. This made Alibaba the biggest initial public offering in U.S. History and Jack Ma, the co-founder of Alibaba, the richest man in China. (NPR)

“Am I rich?” Odds are good that you answered “no” to that question, regardless of how much money you have. According to a report by investment bank UBS, only 28% of people with $1 million to $5 million in assets considered themselves wealthy. Even when you ask people with more than $5 million in assets, only 3 in 5 consider themselves wealthy.

If you’re struggling to keep up with high-interest credit card debt, you’re not alone. Many people are looking for better ways to manage their finances, and personal loans could be the solution. By consolidating your debt, you can save money, reduce financial stress, and even improve your credit score. Let’s break down how it works.

Regardless of what you might have heard, borrowing from Peter to pay Paul is not always a bad idea. All things being equal, if Peter charges a lower interest rate, you’d be a fool not to. Personal loans can be an excellent way to pay off your credit card debt, lower your interest payments, and even repair your credit score. But you have to do it right or a personal loan could cost you instead of saving you money.