How long does it take for an Offer in Compromise to be approved or rejected?
- November 14th, 2024
- David Greene
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Let me make one thing clear, dealing with the IRS is not like dealing with your neighbor down the street or a local business. It will not be resolved in a matter of a few weeks or even months, especially…
I want to be sure my tax return is prepared correctly this. Do you have any tips for choosing a good one?
- November 12th, 2024
- David Greene
- Comments Off on I want to be sure my tax return is prepared correctly this. Do you have any tips for choosing a good one?
That is a very good question. Tax time will be here before you know it. I have more than a few clients each year who are audited and when I review their returns I can see where the tax preparer…
Can one refinance a home that has a tax lien?
- August 26th, 2024
- David Greene
- Comments Off on Can one refinance a home that has a tax lien?
Thank you for your question. I have several clients currently with the same problem. If you have enough equity in your home to completely pay the delinquent taxes, the IRS will discharge the lien upon payment of the taxes out…
What documents does the IRS require to be submitted with an Offer In Compromise?
- July 22nd, 2024
- David Greene
- Comments Off on What documents does the IRS require to be submitted with an Offer In Compromise?
The Offer In Compromise program is a voluntary program that is offered to taxpayers who are delinquent in their taxes. Not everyone qualifies, but if you think you do and want to make an Offer you must disclose some private…
When does a taxpayer have to pay Estimated taxes?
- May 6th, 2024
- David Greene
- Comments Off on When does a taxpayer have to pay Estimated taxes?
I cannot answer that without knowing how much you owe because the answer depends on how much you owe on your current year’s tax return. However, here are five general tips to help you decide if you should be paying…
Is Income Tax illegal?
- May 1st, 2024
- David Greene
- Comments Off on Is Income Tax illegal?
I get inquiries about this matter every year around April 15. First let me state that the collection of income tax by the federal government is legal pursuant to the Constitution and federal statutes. We might not like how much…
Why is money withdrawn from a retirement account taxed?
- April 30th, 2024
- David Greene
- Comments Off on Why is money withdrawn from a retirement account taxed?
I decided that shortly after tax time is a good time to answer this question because I always have clients in this predicament every year! I want to use this answer as a warning to anyone thinking of making an…
How soon can one submit a seccond Offer in Compromise?
- February 20th, 2024
- David Greene
- Comments Off on How soon can one submit a seccond Offer in Compromise?
There is no minimum wait time between Offer submissions. However, a better question is, “Is there any hope if I submit another Offer after my first one was denied?” Yes there might be, depemnding on the length of time between…
Can I go to jail for not filing taxes?
- February 12th, 2024
- David Greene
- Comments Off on Can I go to jail for not filing taxes?
I have a lot of clients that have failed to file returns for several years, in fact, a gentleman came in last week who has not filed in 15 years. First, you should not worry about going to jail unless…
How can you track your 2022 missing refund?
- February 2nd, 2024
- David Greene
- Comments Off on How can you track your 2022 missing refund?
Every year I get several questions along the same line. The IRS recently reported that they have over $200 million in undelivered tax refunds. These are for more than 100,000 taxpayers. You may be one of them. The failure in…