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Will bankruptcy get rid of IRS tax debt?

Many people ask us whether or not you can use bankruptcy to resolve back tax debt with the IRS. The answer is... yes! Let's take a look at the different types of bankruptcies available to taxpayers, along with some of the advantages and disadvantages of each.

How to get your offer in compromise approved

What is an offer in compromise, and how do you get one approved? Well, the IRS defines it as a tool that “allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability, or doing so creates a financial ...

6 surprising facts about IRS collections

Anyone who has read any of my other articles knows that I think the tax code is convoluted, irresponsible, and morally bankrupt.  The IRS operates through the fear of the unknown; once you understand the facts, they are much less intimidating. I am going to share six surprising facts about IRS collections that just...

6 Myths about the Offer in Compromise Program

Here's a fact for you: the IRS Offer in Compromise program has helped tens of thousands of US taxpayers get out from under crippling tax debt. As a tax attorney, that's the kind of resolution that I like to see. Unfortunately, thanks to misinformation on late night TV ads, various internet ...

IRS Offer In Compromise FAQ: Common Questions Answered

What the IRS Fresh Start Offer in Compromise Program all about? The IRS Fresh Start Offer in Compromise isn't a new settlement program. but rather gives better guidelines in what you'll have to do to get an Offer in Compromise accepted.

IRS Form 433: What Is The Difference Between A, B & F

One of the key issues to resolving any tax matter are IRS Forms 433A , 433B, or 433F. What are these forms?  Each is an IRS Collection Information Statement. It is your financial portfolio laid out to the ...

Top Ten IRS Tax Settlement Myths

Congress created the IRS...and IRS tax settlement programs. I've been focusing a lot on offshore tax problems and so it is about time to update with what I see as the top 10 IRS tax settlement myths floating around. These are things that I am told all the time - - - not just by ...

Do you qualify for the IRS Fresh Start Program?

Believe it or not, the IRS Fresh Start Program actually offers some benefits! We've used this initiative to help individuals and small businesses around the country and the world settle their an IRS probem. But who qualifies and for what exactly? Read this article to learn what you need to know about the IRS Fresh Start Program.

2018 Tax Resolution Programs

Tax resolution programs are extremely important to helping those that are struggling with tax debts. Many people are surprised to find out that you can actually negotiate with the IRS. There are a number of tax resolution programs provided by the IRS that can be monumental in dissolving your tax problem.

Why you should NOT wait until tax reform to settle with the IRS

We have many people reach out to us regarding their tax issues. Lately, the most common question we get is, "Should I wait until tax reform passes before I handle my tax problem?" The short answer is "No." But why?

Can you compromise an IRS Offer in Compromise?

What do you do about an Offer in Compromise you can't afford? Do you allow the Offer in Compromise to default, go back into collections and try something else? Or, can you renegotiate the Offer in Compromise to what you can now afford? That is, can you compromise your Offer in Compromise?

Estimated Tax Payments: The importance of being current

I want to take some time and go over the importance of "being current." Maybe you heard an IRS revenue officer or other IRS or state collections employee say to you "you need to be current." Well, what does it mean to be current with your IRS estimated tax payments? And why is it critically important?

IRS Offer In Compromise Tips: How to Get Your Offer Accepted

Filing an offer in compromise with the IRS can be a great way to resolve a past tax problem. Not only can you settle the debt quickly, but sometimes you can get a really substantial reduction on your accrued debt. Unfortunately, as is the case with everything the IRS touches, it's not all ...

Can you file a Offer In Compromise on Payroll Taxes?

If a business you own or run fails to make timely payroll deposits according to schedule, it can be quite easy to find yourself with huge payroll tax penalties and debt with the IRS, which can feel impossible to resolve. If your ...

Should I File An Offer In Compromise?

Do you owe the IRS back taxes?  Are confused on whether or not you should file an Offer in Compromise? If so, you're in good company. On one hand, it may seem like an IRS Revenue Officer or IRS employee is encouraging you to file an Offer in Compromise. On the other hand...

How do IRS tax relief programs actually work?

So how does this work exactly? You run up a huge tax debt with the IRS, wave a magic wand and then voila - - - you can settle your IRS debt for pennies on the dollar? Is this right? Why would the government just take less than what is owed?

How does an IRS Offer in Compromise really work?

Many people are surprised to find out that you can negotiate with the IRS and pay only a portion of your back tax debt. So how does an Offer in Compromise work? The IRS will determine how much they think you can afford to pay back by looking at your income, assets, and expenses.

What to do if you didn't file your taxes

Now that April 15th is officially in the rear view mirror, most taxpayers are breathing a sigh of relief. But for those that haven't filed yet, the sleepless, Pepto Bismol filled nights are just beginning.

First Time Penalty Abatement

An Offer in Compromise is typically the best way to “abate” the penalties and interest, but you’re not really abating the penalties and interest. You’re simply settling the total debt for a portion of what’s owed, including penalties and interest.

How much can I save with an IRS Offer in Compromise?

Can an IRS Offer in Compromise save me money? We've heard this question asked of us in many different ways -   "How much should I offer the IRS?", "You're a tax attorney, tell me how much money you can save me", or "What percentage should I offer to pay the IRS?" If we knew the exact answers ...

The PATH Act of 2015 - Some welcome updates

On December 18, 2015, the House and Senate passed the PATH Act, otherwise known as "Protecting Americans from Tax Hikes Act of 2015." The act itself is extensive, so we'll touch on the points that we think have the most...

Tips for resolving a tax problem

This article is going to be a bit different than most of the articles on our site. Instead of focusing on some of the more specific ways to resolve a tax problem (looking at you, offer in compromises, installment agreements, and all of the ways to avoid federal tax evasion charges), we’re going ...

Do I qualify for an offer in compromise?

Tax debts can spiral out of control to the point where the taxpayer's ability to pay is rather limited. If the IRS tried to collect 100% of every dollar owed from every delinquent taxpayer, there would be a revolt. If there's one thing that the IRS is good at, it's controlling the masses. The Offer in Compromise Program is the IRS's opportunity to look gracious and kind by giving people a break.

Expats and IRS tax collection statute limitations

If you owe the IRS money, it’s very easy to feel that the odds are stacked against you. The IRS is the most powerful collection agency in the world and Congress has repeatedly given the IRS new tools to collect what they feel they’re owed...

When you're looking to pay a chunk of an even bigger bill

Somehow you got to the point where you got behind on your federal income taxes. Or, maybe your federal payroll deposits tripped you up this time. The point is, you got behind, and you're not alone. So how can you solve the problem? Your # 1 goal should be to reduce your IRS bill; this way you can pay...

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