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Digital Currency - Cashless Society and Future of Money

  What can replace cash? Due to lots of innovation in this 21st century, nothing seems impossible around the globe. Reality is in front of us, as money will strip off its tangibility and cryptocurrency will appear out as individual units for virtual exchange. This requirement can be fulfilled with the help of Internet, iPhone or any Android-Gadget. Cashless transactions are practiced globally. Various countries like India, Sweden, and Belgium etc... have taken a back step from paper currency. Sweden has an objective to become the first country in terms of cashless economy. Two years ago, demonetization took place in India and most of the population in Belgium does their payment through cards or mobile phone apps. Even, there is a creation of law to limit the cash transactions up to a certain amount. The capability of digital currency Exchange There is a great opportunity for everyone to invest in tokens. The waves related to Cryptocurrency may give an allowance to receive the tokens w

Tax Debt Help: Penalties You Can Avoid

Tax debt help is available to those who find it difficult to pay their taxes. You are not the only person who may be having problems with your taxes. There are so many others who are in the same situation as you are and the IRS provides some tax relief for those of you who are genuinely in financial trouble.

For a lot of taxpayers the main problem does not lie in the fact that they cannot pay the IRS but in the fact that they are not very adept in handling their finances and because of that even if they can pay partial dues they do not totally understand that. This is almost similar to the council tax in the UK.

If you cannot pay the IRS in full you have other options. You must pick one that will minimize the liability that you have towards your taxes which means that you should pick an option where you have to pay the minimum penalties or interests. This is why you must have a good understanding of the tax penalties that the IRS can charge of you.

Basic penalties

Two basic penalties that you need to watch out for when you have back taxes but not the ability to pay are:

1. Failure to file: This penalty is 5% each month and may go up to 25% of the total amount of money you owe. If you understand this you do not need to go to someone for professional help to resolve tax debt that you have. You can do it yourself. This penalty is charged if you fail to file or pay your taxes.

2. Failure to pay: The penalty that you have to pay if you fail to pay your taxes is 5% each month of the total amount owed to the IRS. However, this penalty too can go up to 25% if you do not pay for long.

A lot of individuals think that if they cannot pay it is better to not file at all but this will not get you any help with IRS debt. Instead, you may have to pay extra money with all the penalties and interests that will accrue on your already existing debt.

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