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 […]

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 […]