If you are an individual who owes money to the IRS, the last thing you want is for them to freeze your bank account or levy (garnish) your wages. The good news is that there are some very effective methods you can use to avoid such a potentially devastating situation. […]
Why You Can’t “Set It and Forget It” With A Payroll Service
I recently received a phone call from a former client with a big problem. We had negotiated an Offer in Compromise for this client in 2012, saving her business a few hundred thousand dollars. One of the conditions when the IRS accepts an Offer in Compromise is that the taxpayer […]
I am Told I Qualify for an Offer in Compromise—Is it a Scam?
As soon as the IRS files a Federal Tax Lien against a delinquent taxpayer, it becomes public record that the person or business has a balance due to the IRS. The lien is filed very soon after a liability is assessed. The fact that the lien is public record means […]
How to Choose the Best Tax Professional to Handle Resolving Your Tax Debt
If you’ve accrued a debt to the taxing authorities, your first inclination may be to handle it yourself. If you make that choice, beware that there are a number of frustrations involved in trying to communicate with the taxing authorities. Unless your case has been assigned to a Revenue Officer […]
How to Eliminate IRS Civil Penalties And State Withholding Tax Return Discrepancies
One of the most frustrating situations my clients confront is the IRS’s addition of large amounts of tax or Civil Penalties to tax periods that ended a long time ago. There can be several reasons for additions to tax or Civil Penalties, but the most common ones I encounter are […]
IRS Installment Agreement Defaults: How To Avoid Them, and What To Do If You Default
OK, so you’ve negotiated an IRS Installment Agreement for your IRS tax liability, and can finally breathe easy because you will not have to deal with your Revenue Officer anymore. Time to celebrate, right? Not so fast. IRS employees frequently tell me that the vast majority of Installment Agreements default […]
Understanding IRS Collection Notices and Correspondence
A taxpayer who accrues a balance due with the IRS receives a lot of correspondence as the IRS tries to collect on that liability. Some of this correspondence appears threatening, but actually doesn’t have much “bite.” Other correspondence means there could be serious danger up ahead, and may require immediate […]
IRS Payment Plan Installment Agreements
Any time a taxpayer incurs a balance due to the IRS, the IRS’s first response is almost invariably to demand that the debt be fully paid, immediately. However, in many situations, the taxpayer does not have the ability to fully and immediately pay the tax debt. This inability to quickly […]