When is the best time to file an Offer in Compromise?
- June 22nd, 2023
- David Greene
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In general, i.e. in terms of “now” as opposed to several years ago, this is a good time to deal with the IRS. They have generally been more willing to compromise and make better deals for the taxpayers than in…
Does an Offer in Compromise by one ex-spouse absolve the other from the debt?
- June 21st, 2023
- David Greene
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If you and your ex-spouse filed jointly, you both are jointly and severally liable for the entire tax bill. This means that you both owe the entire amount and the IRS can pursue either or both of you for payment…
Can the IRS make me adjust my withholding amount on my paycheck?
- June 20th, 2023
- David Greene
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Yes, they can but sometimes you should voluntarily make that adjustment yourself. It is a common issue among our clients that they do not have enough taxes withheld from their paycheck. When you work as an employee, you fill out…
Can one file a second Offer in Compromise after the first is rejected?
- May 11th, 2023
- David Greene
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Yes, you can certainly file another Offer, especially when there is a change in your circumstances. However, we should look at another possibility first. When an Offer is rejected, you have 30 days from the date of the official rejection…
What can one do to avoid an audit?
- May 9th, 2023
- David Greene
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I often get asked this question just after tax season. There is nothing you can do to guarantee that you will never be audited. However, by following three simple rules, you can minimize your chances of being audited and, if…
What has to be filed for the non-custodial parent to claim the child as a dependent?
- April 19th, 2023
- David Greene
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This question deals with the same problem the reader had last week, but in a different way. If a taxpayer seeks to claim dependent children after a divorce but is not the custodial parent, he must file Form 8332 with…
Is an ex-spouse only responsible for one half the taxes on a return with delinquent taxes?
- April 14th, 2023
- David Greene
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I have been asked this question before. The general answer is that a spouse owes all of the taxes because he signed the return. For a joint return the signers are jointly and severally liable for the tax. This means…
How can the IRS deny a taxpayer’s exemption for his child?
- April 12th, 2023
- David Greene
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Usually, when the IRS denies your exemption for a child, it means that someone else filed before you did, claiming the same child as an exemption. This usually arises when a stepparent and biological parent both claim the exemption. However, in…
What are Estimated Taxes and do I have to pay them?
- April 6th, 2023
- David Greene
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Estimated taxes are taxes one has to pay in advance of the tax being due. They are required for people who earn income from which no payroll taxes are withheld. A “W-2” employee is one who gets a regular payroll…
How is real property owned by a deceased person transferred if no probate estate was ever opened?
- April 1st, 2023
- David Greene
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The only way to transfer real property owned by a deceased person who died less than ten years ago is to open or reopen a probate estate and obtain a Deed of Distribution. If the deceased died more than ten…