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Category: tax debt relief

How an Offer In Compromise Works

Do you owe back taxes to the IRS?  Until your debt is paid in full, the federal agency can assess penalties, interest, and more.  Fortunately, you have options on how to settle your debt with the IRS.  One solution is an Offer in Compromise.

How a Tax Attorney Can Help Get a Bank Levy Released

Tax Attorney

When you owe the IRS money in back taxes, the federal agency can use a variety of ways to obtain the debt, including assessing a bank levy.  This means the IRS can place a freeze on your accounts and seize the money until your tax debt us satisfied. To try to have the bank levy… Read more »

When Seeking Penalty Abatement, What Qualifies as Reasonable Cause?

If you are facing penalties from the IRS for paying or filing your taxes late, you have some options to get those assessments removed.  Reasonable cause is one method to getting penalty abatement. Learn more about reasonable cause and how to qualify for it.

What to Do If You Default on Your IRS Payment Plan

IRS installment agreement default

When you owe money to the IRS, you can typically set up a payment plan.  But what happens if your financial situation changes before you’ve completed your payments, and you default on your plan? Find out what to do if you default on your IRS payment plan, and how a tax attorney can help.

Offer in Compromise vs. Bankruptcy: Which is Better For Me?

Tax debt resolution

Being in debt is not pleasant…and tax debt is no different.  While filing for bankruptcy may help you with most debts, it is not always the best solution for dealing with IRS debts.  One of the most popular ways for dealing with IRS debts is by settling tax debts through the Offer in Compromise Program.

5 Benefits of Negotiating an IRS Installment Agreement

IRS payment plan

An IRS installment agreement is one of the best ways to resolve your tax debt problems.  You can avoid most types of IRS collection actions and pay off several years of tax debt as long as you make your monthly payment.

When Can the IRS Seize Your Assets?

IRS Asset Seizure

The IRS can generally seize your assets when you fail to pay your tax debt and the IRS has sent you the proper notices in the mail.  Even if you owe tax debt and have received these notices, you can still protect assets if you negotiate a resolution to your tax problems.

IRS Tax Levies – 8 Ways to Remove Them

IRS tax levy

~~~~~~~~~~~~~~~~~~~~~~ What we are going to cover: The IRS has many tools at their disposal for recovering a delinquent tax debt Among those tools, is the tax levy A tax levy is when the IRS seizes a taxpayer’s assets (monetary or otherwise) to pay off a tax debt 8 Ways to get an IRS tax… Read more »