IRS Offer of Compromise

An IRS Offer of compromise is available to all taxpayers, although it may be difficult to qualify. The goal of the IRS is to accept the offer of compromise when it is in the best interest of both the taxpayer and the government. In addition, the IRS wants to promote voluntary compliance with all future [...]

The IRS Offer and Compromise: Tips For Success

For a taxpayer, an Offer and compromise represents a great opportunity to resolve tax debt and move forward. For the IRS, accepting an Offer and compromise represents the same opportunity, but it comes with the expectation that taxpayers will begin to pay their taxes on time. The following are a few helpful tips and words [...]

Using a California Tax Lawyer To Get IRS Tax Relief

California residents who have federal back taxes due may get tax relief through the IRS Offer in Compromise Program. In some circumstances, you can settle your income tax debt for pennies on the dollar.  Taxpayers will find more success if they use a California tax lawyer to help them rather than complete the process themselves.
For [...]

Using an Arizona Tax Attorney To Get IRS Tax Relief

Arizona taxpayers who have federal back taxes due may get tax relief through the IRS Offer in Compromise Program. In some situations, you can settle your tax debt for pennies on the dollar.  Taxpayers will find more success if they use an Arizona tax attorney to assist them rather than complete the process themselves.
For a [...]

Tax Debt – The Automated Collection System

The Automated Collection System (ACS) is the collection method most often implemented by the IRS. Millions of Americans nationwide have experienced or are currently experiencing this system. Often the first notification most taxpayers have that they have developed tax debt, the ACS is a largely computerized system and sends almost all of the notices and [...]

Debt Cancellation Income Exclusions

Many people are aware that there is tax relief under certain circumstances for cancelled mortgage indebtedness.  However, what they often fail to realize is that the transactions are also treated as sales (or dispositions) for income tax purposes and a gain or loss on the transaction must be calculated.  Determining any taxable amounts for the [...]

IRS Penalty Abatement – Reasonable Cause

The Internal Revenue Service charges IRS Tax Debt penalties and interest for failing to submit payment or file a tax return by the appropriate due date. While these charges are constructed to ensure proper and prompt payment and submission of documentation, they can add a substantial amount of debt onto the taxpayer’s initial liability, oftentimes [...]

Installment Agreements – Successful Tips

Whenever a taxpayer has a back tax problem, they must make sure that they deal with it right away. The first IRS program that many people go to is the Offer in Compromise program. But considering that approximately 85% of taxpayers with back tax issues do not qualify for an offer in compromise, negotiating an [...]

Offer in Compromise – The Steps to Success

Based on the current economic downturn, many taxpayers find themselves unable to pay their tax bill. That’s why many request an offer in compromise from the IRS. But an offer in compromise is not for everybody. Many people believe that if they currently do not have the funds on hand then the IRS will automatically [...]

Getting Your IRS Tax Levy Released

Before an IRS Tax levy is placed on wages, bank accounts, tax refunds, etc., a Notice of Intent to Levy will be sent to the taxpayer, along with the individual’s rights to appeal the levy. If an individual does not respond in time to negotiate an alternate means of collection through any other IRS tax [...]

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