Which is better, an Offer in Compromise or Installment Agreement?
- June 14th, 2016
- David Greene
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If you qualify for an Offer In Compromise due to your current financial situation, then it is always better to do the Offer. Often we can offer the IRS a small fraction of the total amount you owe. If the…
How does the IRS use your excess monthly income in calculatiing an Offer in Compromise?
- May 17th, 2016
- David Greene
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The Offer guidelines state that the IRS will look at either 12 or 24 months of net excess earnings when evaluating an Offer In Compromise. However, first the Offer Specialist must look at the sum of the monthly net excess…
Can the IRS use private debt collectors to collect delinquent taxes?
- March 9th, 2016
- David Greene
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Yes, the IRS has begun that practice again, but only if certain criteria are met. If you remember, several years ago the IRS used private debt collectors on a wide variety of cases. They eventually stopped the practice due to…
What exactly is the Trust Fund Penalty?
- February 23rd, 2016
- David Greene
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First let me clarify that the Trust Fund Penalty is not really a penalty added to tax owed but is a portion of the payroll taxes owed by a corporation. The Trust Fund Penalty only applies to corporations, not to…
How long does the Offer in Compromise process take?
- February 9th, 2016
- David Greene
- Comments Off on How long does the Offer in Compromise process take?
Let me make one thing clear at the outset, dealing with the IRS is not like dealing with your neighbor down the street or a local business. A submitted Offer will not be resolved in a matter of a few…
Ever hear taxes are illegal? Don’t buy it and stop filing or face criminal charges!
- January 20th, 2016
- David Greene
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This is an area that the IRS pursues very vigorously, so there are many people who try this and get caught. These people and groups generally fall into two categories: the promoters and the victims. The promoters are willful violators…
HAPPY NEW YEAR
- December 29th, 2015
- David Greene
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I hope everyone reading this had a very nice Christmas holiday and I hope you are looking forward to a New Year filled with hope and promise. Of course the way to make those hopes and resolutions come true is…
Is an Offer in Compromise ever a solution if the taxpayer has enough funds to pay in full?
- December 8th, 2015
- David Greene
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There is a type of Offer that can be used in certain situations. I am referring to the Offer based on Effective Tax Administration. It is appropriate when the taxpayer has the funds or assets to pay the amount owed,…
What if the IRS tries to collect taxes you do not owe.
- September 23rd, 2015
- David Greene
- Comments Off on What if the IRS tries to collect taxes you do not owe.
If you receive collection letters stating that you owe taxes for years that you do not think you owe, you need to proceed under the approach to compromising tax liability known as the “Doubt As To Liability” doctrine. As the…