An IRS tax levy is the government's legal seizure of your property and assets as repayment for unpaid tax debt. Unlike an IRS tax lien, in which nothing is physically taken from you, an IRS tax levy grants the government a legal right to take your property…

My after-tax income from my small business is greatly reduced by the incomes taxes I pay each year. A friend of mine told me I could reduce the amount of taxes I owe by shifting my income elsewhere. Is that true? Answer: Generally, you can reduce the amount…