Posts Tagged ‘delinquent taxes’

What are the most important factors to consider in an Offer in Compromise?

  • October 7th, 2021
  • David Greene
  • Comments Off on What are the most important factors to consider in an Offer in Compromise?

Recently I promised to further discuss requirements for having an Offer accepted and not later revoked.  We assume the technical requirements discussed last time have neem met.           To accept an Offer In Compromise, the IRS must be convinced that your…

What is the IRS program Currently Not Collectible?

  • September 29th, 2021
  • David Greene
  • Comments Off on What is the IRS program Currently Not Collectible?

You may qualify for  Currently Not Collectible Status.  To qualify for that status you do not have to be destitute with no assets and no job.  However, you do need to be in such a financial position that all or…

When can an Offer in Compromise be returned without considering the merits?

  • September 14th, 2021
  • David Greene
  • Comments Off on When can an Offer in Compromise be returned without considering the merits?

An Offer can be “returned,” i.e. not even considered, for technical reasons. This does not mean it was denied.  When an Offer is first received, it must pass several tests to be considered.  If it fails these technical requirements, it…

Is the Offer In Compromise program a tax scam?

  • May 25th, 2021
  • David Greene
  • Comments Off on Is the Offer In Compromise program a tax scam?

The Offer in Compromise program is not a scam.  However, scammers use the promise of an Offer to scam you.  There are a lot of scams being run today, one of which states that the promoter can settle your back…

I would like to set up an Installment Agreement to pay my delinquent taxes. Does the IRS have to accept my Agreement at whatever amount I am willing to pay per month?

  • April 28th, 2021
  • David Greene
  • Comments Off on I would like to set up an Installment Agreement to pay my delinquent taxes. Does the IRS have to accept my Agreement at whatever amount I am willing to pay per month?

The IRS will accept your Installment Agreement request without your furnishing your financial information only if the following conditions are met: 1) the total owed is less than $50,000.00; 2) the taxpayer has filed all required returns for the past…

Can a taxpayer submit more than one Offer in Compromise?

  • February 9th, 2021
  • David Greene
  • Comments Off on Can a taxpayer submit more than one Offer in Compromise?

Yes, one can certainly file a second Offer after a rejection, 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…

Can one ever settle with the IRS for less that he owes?

  • January 19th, 2021
  • David Greene
  • Comments Off on Can one ever settle with the IRS for less that he owes?

I get this question is some form at least once a week.  I have not answered it in awhile, so here is my answer.  The beginning of the new year is a good time to answer this.  Many times the…

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