What to do if you receive a certified letter from the IRS
- David Greene
- Comments Off on What to do if you receive a certified letter from the IRS
Many people are afraid to pick up a certified letter from the Post Office and are afraid to open it. However, you cannot help yourself by failing to act. Here is some advice on what to do when you receive…
How long does it take for an Offer in Compromise to be approved or rejected?
- David Greene
- Comments Off on How long does it take for an Offer in Compromise to be approved or rejected?
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…
What documents does the IRS require to be submitted with an Offer In Compromise?
- 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…
How soon can one submit a seccond Offer in Compromise?
- 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…
When is the best time to file an Offer in Compromise?
- David Greene
- Comments Off on When is the best time to file an Offer in Compromise?
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?
- David Greene
- Comments Off on Does an Offer in Compromise by one ex-spouse absolve the other from the debt?
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 one file a second Offer in Compromise after the first is rejected?
- David Greene
- Comments Off on Can one file a second Offer in Compromise after the first is rejected?
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 is an Offer In Compromise based on Doubt as to Liability?
- David Greene
- Comments Off on What is an Offer In Compromise based on Doubt as to Liability?
The Offer based on doubt as to liability is not very common, but is very useful in certain situations. To make an Offer on this basis, there must be a genuine dispute as to the validity of the taxpayer’s liability. …
Is there a fee to set up an Installment Agreement with the IRS?
- David Greene
- Comments Off on Is there a fee to set up an Installment Agreement with the IRS?
Yes, there is an application fee for an Installment Agreement. The IRS used to charge a user fee of $43.00 to set up the account for the Installment Agreement. However, several years ago, this fee was increased to $105.00. Unlike…
Does the IRS ever forgive interest and penalties?
- David Greene
- Comments Off on Does the IRS ever forgive interest and penalties?
Many people who owe taxes more than five or six years old find that the interest and penalties are more than the original tax. This is because penalties keep being added for several years. In fact, there are more than…