What is an Offer In Compromise based on Doubt as to Liability?
- January 3rd, 2023
- David Greene
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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. …
Are Social Security benefits non-taxable in all situations?
- December 30th, 2022
- David Greene
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The answer is both “yes and “no.” Here’s what I mean. If your Social Security is truly your only income, it is not taxable. This is true whether it is Social Security Disability or your entitlement based on your age. …
How many different ways can the IRS try to collect taxes I owe?
- December 29th, 2022
- David Greene
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This is a good question, but one that cannot be answered in a short space. I will just discuss the primary methods. When one does not pay her taxes, she will first receive a friendly letter stating that she has…
How does one dispute payroll taxes assessed by the IRS?
- December 28th, 2022
- David Greene
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There are various ways to dispute the assertion by the IRS that you owe additional payroll taxes. Has the tax actually been assessed or have you simply been notified that you might owe this? Also, if it has been assessed…
Is there a Fresh Start Program for businesses?
- October 31st, 2022
- David Greene
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The Fresh Start program for companies is not discussed much, but it is there in a different format. The Fresh Start for business offers an Express Installment Agreement. To qualify, the business must meet the following criteria: (1) the amount…
What is the likelihood of being audited?
- October 26th, 2022
- David Greene
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This is a difficult question to answer. The IRS computers use several criteria to target returns for audit, including if the current return shows much less income than the past year, an extremely high amount in deductions, or if the…
Are tax refunds kept by the IRS if the taxpayer is in an Installment Agreement?
- October 25th, 2022
- David Greene
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Unfortunately, the IRS will take any refund to which you are otherwise entitled until your delinquent tax is paid in full. Since you are in the Installment Agreement, I suggest that you revisit your W-4 form and possibly adjust your…
Can the IRS seize property held in the non-debtor’s name?
- October 11th, 2022
- David Greene
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Yes, they can in certain circumstances. If person A has a tax debt and transfers his property to person B for less than fair market value, the IRS can void that transfer through a court action. This is pursued under…
Tax tips for Start-ups
- October 4th, 2022
- David Greene
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Here are some tips relative to the financial and tax implications of a new business. To make the best decisions, you should consult with an attorney or accountant when implementing these tips. (1) Pick a business structure – S or…
Is there a fee to set up an Installment Agreement with the IRS?
- August 16th, 2022
- David Greene
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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…