Delinquent Taxes in an Estate
- February 22nd, 2011
- David Greene
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What are the obligations of the Personal Representative (formerly called an Executor) of an estate when the decedent owed delinquent taxes? The duty of any Personal Representative is to gather the assets of the estate, pay bills of the last illness and ongoing bills, pay creditors who properly file their claims and distribute the assets to the heirs.
Will The IRS Forgive Interest Or Penalties?
- February 15th, 2011
- David Greene
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Many people tell me that they could pay their back taxes over time if they didn’t have to pay the interest and penalties. In general the answer is “no”, but is this sometimes possible to avoid the penalties and interest? The answer depends on the type of deal you make with the IRS.
Dealing With Unfiled TaxReturns
- February 9th, 2011
- David Greene
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Many people fail to file a tax return for one reason or another. Then the next year they are afraid to file since they missed a year. This escalates until several years have passed without filing. How to they get back in the system?
Offer in Compromise based on Effective Tax Administration
- January 25th, 2011
- David Greene
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Today I want to talk about an Offer in Compromise based on “Effective Tax Administration.” This is used when a person most likely has access to enough assets to pay the delinquent tax, but for certain reasons and extenuating circumstances, the IRS will choose not to collect the entire amount. The
Offer in Compromise based on Doubt as to Liability
- January 18th, 2011
- David Greene
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Today I want to discuss the Offer In Compromise based on doubt as to liability. This means you do not believe you owe the tax the IRS is charging you. In this case you do not have to submit any financial information. However, you do have to give a detailed explanation why you are not liable for the tax and
Required Documents For Offer In Compromise
- January 4th, 2011
- David Greene
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The Offer In Compromise program is a voluntary program that is offered to taxpayers who are delinquent in their taxes. There are several types of Offer, namely OIC based on doubt as to collectibility, OIC based on doubt as to collectibility with special circumstances, OIC based on doubt as
New Year Thoughts
- December 31st, 2010
- David Greene
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As most of you know, the majority of my practice deals with IRS problems. Today I want to pass along some thoughts about dealing with the IRS. The people who retain me usually owe past due taxes to the IRS. This is a debt like any other debt, except that the IRS has greater collection powers than other
Christmas Wishes
- December 23rd, 2010
- David Greene
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For this Christmas Week blog, I would like to pay honor to this most wonderful season of the year. It is a time for rejoicing and sharing your love and good fortunes (large or small, monetary or otherwise) with friends and family. However, many of us with problems cannot seem to put
What to do when you receive notice of delinquent taxes
- December 14th, 2010
- David Greene
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When you receive a notice about delinquent taxes, you must first determine whether it is a notice of taxes due or a warning that additional taxes will be assessed if action is not taken. In either case, there is an appeal period or period in which to act before further action is taken. One should never let this period expire without contacting the IRS or filing some paperwork.
Successful Offers when assets are greater than amount owed
- December 8th, 2010
- David Greene
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Today I want to discuss an alternate type of Offer in Compromise that might work for a taxpayer who has suddenly acquired liquid assets such as a personal injury settlement. The goal is to protect this settlement from the IRS and not have to include it in an Offer in Compromise. The solution I am