Tax Strategy, CFO Insights & NIL Finance for Founders and Athletes

Most taxpayers assume IRS penalties are locked in the moment they hit the account, so they pay them without asking a single question. In reality, two formal programs remove failure-to-file, failure-to-pay, and other penalties every year, and the IRS is never required to mention either one. This guide breaks down what actually qualifies, how much of a typical balance is penalties versus tax, and the exact process for requesting removal.

Texas has some of the strongest wage protections in the country, but they don't apply to the IRS, and if a Final Notice of Intent to Levy has already been mailed, the countdown is federal, not state. This guide breaks down exactly how much of a Texas paycheck the IRS can legally take, the mandatory warning notices it must send first, and the specific steps to release a levy before or after it hits.