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Category: tax debt relief

Passport Renewals When You Owe IRS Tax Debt

IRS tax debt passport renewal

  Did you know that your IRS tax debt could prevent you from renewing your passport?  The IRS has been talking about doing this for years and beginning in February of 2018, the IRS began certifying tax debt to the State Department for seriously delinquent taxpayers, which could result in a denial of your passport… Read more »

Consequences of Failing to Resolve Your Tax Debt

Are you unable to resolve your tax debt? Very few things in life are as stressful as owing the IRS money, especially if you do not have the funds to pay what you owe. “So what should I do?” You are probably wondering. Well, this should not be a complicated issue if you can get… Read more »

What is a Doubt as to Liability Offer in Compromise?

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 owe, sometimes for pennies on the… Read more »

What If You Can’t Make the Minimum Monthly Installment Payment?

IRS installment agreement payments

What to do if You Can’t Make the Minimum Monthly Installment Payment? If you find yourself unable to make the minimum monthly installment payment, you can negotiate a monthly payment amount that fits your budget by completing Form 433-F and working with the IRS employee assigned to your case. However, you’ll need to show that… Read more »

How Long Does It Take to Pay Off IRS Tax Debt?

Tax Deby

Factors That Indicate How Long It Takes to Pay Off IRS Debt Several factors will influence how long it takes to pay off your tax debt, including the amount of your balance, how old the tax debt is, and your overall financial situation. You may be able to settle your tax debt relatively quickly if… Read more »

3 Types of IRS Penalty Abatement

tax penalty relief

What is a Tax Penalty Abatement? Taxpayers with unfiled tax returns or unpaid taxes are often hit with the following IRS penalties: The failure-to-file penalty, which accrues at 5% of your unpaid taxes per month The failure-to-pay penalty, which accrues at 0.5% of your unpaid taxes per month

How to Recover Damages for an IRS Error

Recovering Damages You may be able to recover economic damages if an IRS error ends up costing you money. However, the circumstances under which you can recover damages are quite limited.

How IRS Payment Plans Work

IRS Payment Plan

Do you owe back taxes to the IRS? Are you having trouble coming up with the money to pay your Federal taxes? You are not alone. Here’s our guide to how IRS payment plans work. If you cannot pay your tax debt within a reasonable timeframe, you can request to make monthly payments through an… Read more »

Can You Still Face Penalties If You Get a Tax Filing Extension?

tax return extension

Reasons for Requesting an Extension There are two major reasons taxpayers request a six-month extension to file their tax returns: • They waited until the last minute, and now they don’t have enough time to file their return. • They can’t afford to pay their tax bill. While the IRS will give all taxpayers an… Read more »