A doubt as to liability Offer in Compromise (OIC) can be used to settle tax debt when there is a legitimate dispute about whether you actually owe the debt. If accepted, you may use a Doubt as to Liability OIC to settle your tax debt for much less than you owe, sometimes for pennies on… Read more »
If you’re having tax problems
Category: Tax Attorney
If you want to pay off your installment agreement faster, you have a few different options. The flexibility offered by IRS payment plans allows you to pay more if you are able to, which allows you to cut down your balance and minimize penalties and interest.
When to Contact a Tax Resolution Attorney Tax problems often start small—you’re a little late filing your return or making a tax payment. These issues can quickly become worse because of penalties, interest, and the challenge of paying back taxes and meeting your current obligations at the same time. If you’re starting to feel… Read more »
IRS Record Keeping Guidelines The Internal Revenue Service generally advises taxpayers to retain copies of all tax returns and any relevant supporting documentation for at least the previous three tax years. The IRS also provides an extensive list of the types of records they may request if you are audited. These include: Receipts Bills… Read more »
Bankruptcy and the IRS Bankruptcy may temporarily delay collection activities by the IRS. However, some types of tax debt are not dischargeable in bankruptcy, so the IRS may be able to resume their collection efforts once the automatic stay is lifted.
How to Stop an IRS Levy When the IRS is about to levy your assets, you should look for any possible opportunities to stop or delay the levy. Once the levy happens, it’s very difficult to get that property back, but there are several ways to stop a levy before it takes place.
IRS Forms 433-A, 433-B, and 433-F – An Overview The IRS has three information collection statement forms namely IRS Form 433A, IRS Form 433B, and IRS Form 433F. Their basic function is to relay to the IRS your financial assortments in a structure of the IRS’s choosing. That way the IRS is able to… Read more »
7 Things to Look for When Hiring a Tax Lawyer Having a tax issue can be daunting. So can the task of having to find a tax attorney qualified enough to take on your tax matter. Here is a list of the top things to look for when hiring a tax lawyer.
IRS Levy Procedures The IRS must follow certain procedures before seizing your property. Typically, that process goes something like this: You receive a notice stating that tax has been assessed and asking you to pay it. You don’t pay or resolve the matter by the deadline. A Final Notice of Intent to Levy is… Read more »
What is an Administrative Wrongful Levy Claim? You can file an administrative wrongful levy claim when the IRS seizes property to collect tax revenue owed by another person and you have a superior right to this property. This typically means you either own the property or have a security interest that was filed before… Read more »