Laws often appear to be very black or white. But, real life can feel more like one big gray area. As a governmental entity, the IRS is required to treat all taxpayers equally. With regard to evaluating Offers in Compromise (tax settlements), this means that the IRS has set standards […]
Effective Tax Administration
Exceptional Circumstances Offer In Compromise, or Offer In Compromise based on Effective Tax Administration. This is available to taxpayers who agree that they owe back taxes, do not qualify for the Doubt As To Collectibility Offer because they have enough assets or income to pay their balance in full, but their situation is such that it would be patently unfair for the government to force the taxpayer to pay.
So, something in life or business didn’t go according to plan, and now you’re faced with an IRS tax liability. While few people relish being a collection target of America’s most formidable creditor, there may be a silver lining. You may have options which could significantly reduce the amount that […]