IRS Installment Agreements

An Installment agreement is one of your options if you can not pay your taxes in full when they are due. This agreement is a type of payment plan, and allows you to pay your debt over a time you establish with the IRS.

Can I Resolve Back Taxes By Qualifying For Currently Not Collectible Status?

Business Fails to Resolve Back Taxes | Federal Tax Lien |

Benjamin Franklin once said that nothing is certain in this life but death and taxes.  I’ll agree that none of us will cheat death.  But I may quibble with Mr. Franklin on the issue of whether or not you have to pay all of your taxes.  Under the right set […]

Cash And Acurral Methods Of Accounting Can Impact The Outcome Of A Tax Collection Case

Accrual Method of Accounting | Installment Agreement |

To some business owners, the accounting part of their business is the last thing they want to deal with.  “Leave that to the accountant or bookkeeper and let me get to work” is the sentiment I get from a lot of small business owners. Accrual Method of Accounting Many business […]

Fortress Financial Services Featured On Moving America Forward Hosted By William Shatner

Moving America Forward Interview | Tax Resolution Services

Earlier this year, I received a voice message from a producer for a television show called Moving America Forward, hosted by William Shatner.  The message stated that they were interested in speaking with me about possibly appearing on their nationally broadcasted television show. Moving America Forward Interviews Fortress Financial Services […]

Congress Instructs IRS To Outsource Collections To Private Companies

IRS Uses Private Collection Agencies | FAST Act |

On December 4th, 2015 President Barack Obama signed into law the “Fixing America’s Surface Transportation Act” to improve the Nation’s surface transportation infrastructure. Also referred to as the FAST Act, the legislation included a provision which requires the Internal Revenue Service to outsource certain tax debts to private debt collection […]

Top 5 Ways To Reduce An IRS Tax Liability

How to Reduce Your IRS Tax Liability | OIC |

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 […]

How to Choose the Best Tax Professional to Handle Resolving Your Tax Debt

Tax Professional | IRS Collections Representation |

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 […]

Tax Compliance – What You Need to Know to Become Eligible for an IRS Installment Agreement

Tax Compliance & Eligibility | Installment Agreement | Offer in Compromise

In order to be eligible to resolve an outstanding federal tax liability on a voluntary basis (e.g. Installment Agreement, Offer in Compromise), as opposed to having it forcefully resolved through collection action such as levies, garnishments, and the seizure of assets, the IRS has two basic requirements. The first requirement […]

Barking Up the IRS Chain of Command – Getting Results by Working the Bureaucracy

IRS Appeals | Offer In Compromise | Tax Relief Help

Recently I was engaged in a heated discussion with an IRS Appeals Settlement Officer. The subject was an Offer in Compromise (Tax Settlement) I had filed on a client’s behalf. The IRS did not want to approve our Offer because they noticed that my client had been late with a […]

The IRS Levied My Bank Account! What Do I Do?

IRS Levy | Notice of Levy | IRS Seizure | TaxTortress

Perhaps no other action taken by the IRS is more disruptive, surprising, and panic-inducing than an IRS levy on your checking or savings account. With one notice sent to your bank, the IRS can seize every penny you’ve got, and apply it toward your tax bill. To make it worse, […]

IRS Installment Agreement Defaults: How To Avoid Them, and What To Do If You Default

IRS Installment Agreement | Notice of Default | CP523 | TaxFortress

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 […]

IRS Offer in Compromise: Common Challenges to Approval

IRS Offer in Compromise | Fresh Start Initiative | Form 656

You have read the Form 656, IRS Offer in Compromise booklet, the rules under the Fresh Start Initiative, and perhaps even hired an attorney or other representative to help you submit your Offer in Compromise to the IRS.  You feel you have sent in a complete Offer, with all documentation attached. […]

Understanding IRS Collection Notices and Correspondence

LT-11 | CP 504 | Collection Due Process | IRS CDP | TaxFortress

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 […]

Can I Avoid Additional Tax Penalties by Designating Payments to My IRS Tax Liability?

Voluntary Payment | IRS Appeals | Installment Agreement

Answer: Depending upon the specifics of your situation, it may be possible to avoid hundreds, or even thousands, of dollars in penalties simply by “designating” voluntary payments applied toward your tax liability.  Keep in mind that payments made in accordance with a formalized installment agreement are not considered voluntary, so […]

IRS Payment Plan Installment Agreements

IRS Payment Plan | Installment Agreement | TaxFortress

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 […]

The IRS Fresh Start Initiative – A Welcomed Relief to Taxpayers

IRS Fresh Start Initiative | Offers in Compromise | TaxFortress

In 2008 the United States, along with much of the rest of the world, witnessed a financial crisis of devastating proportions.  In response, the federal government issued bailouts to the major banks after deeming them ‘too big to fail.’  Small businesses, however, were trying to get back on their feet […]