The IRS rejects a lot of Offers in Compromise (OICs). When an offer is rejected, you have 30 days to request an appeal. You can also consider using other tax resolution strategies.
If you’re having tax problems
Category: tax debt relief
Taxpayers who owe the IRS over $50,000 may have to deal with tax liens, tax levies, and IRS passport actions. There are many tax resolution options that can be used to protect your property and get the IRS off your back.
The IRS can ask the State Department to deny your passport application or even revoke your passport if you have seriously delinquent tax debt. There are several ways to avoid IRS passport actions or to get your passport back after a denial or revocation.
You may be able to get IRS tax penalty relief simply by asking for it. If you meet the criteria for first-time penalty abatement (FTA), reasonable cause penalty relief, or other types of penalty relief, you will need to submit a request to the IRS in order to have your penalties reduced.
If you owe the IRS a substantial amount, be sure not to ignore it. Review options such as installment agreements, extensions, or personal loans, and always seek legal advice from a professional tax attorney.
If for some reason, you find yourself defaulting on a tax payment or two, the IRS will take steps to recover that debt. This could be through IRS levies, allowing them to seize your assets, taking money from your accounts or through a Notice of Federal Tax Lien (NFTL). By law, the IRS must… Read more »
When people first hear about the IRS Offer in Compromise (OIC) Program, (depending on where they hear about it from), many common misconceptions may come with it. So, I am here to clear up some of the most common myths about the OIC Program
It is the right of the IRS to seek payment for debt you owe to the government, but it can be difficult going up against the IRS alone. Therefore, it’s in your best interest to take advantage of knowledgeable, experienced, and professional tax attorneys. Not only will you receive expert guidance, but it could… Read more »
Owing taxes to the IRS is no joke. In fact, you could face severe penalties for not addressing outstanding tax liabilities. The good news is that there may be actions you can take that can help reduce your debt. However, due to the complexity of tax regulations, it can be difficult to know what… Read more »
Currently Not Collectible (CNC) status can provide you with temporary relief from tax debt collection efforts by the IRS. However, if you applied for but were denied CNC status, all hope is not lost, as you have the option to appeal this ruling. A tax attorney can be a great ally during this process… Read more »