The IRS Taxpayer Advocate helps taxpayers resolve problems with the IRS and also recommends changes to help prevent problems in the future. The Taxpayer Advocate handles those issues when the tax problem is causing significant financial difficulty, when you or your business are facing immediate, adverse threat and when you have tried to contact the IRS repeatedly to no avail.
Offer in Compromise
IRS Offer in Compromise: What to Do When They Are Rejected – Part Two
Successful offer in compromises begin at the preparation level by putting together a package that is well-organized and gives the service every opportunity to accept your offer in compromise.
What Living Expenses Does the IRS Allow?
Although a favorite saying of IRS revenue officers is that “The IRS is not a bank” and takes collection of taxes owed seriously, the IRS is prevented from collecting assets that a person needs to survive and meet their basic living requirements. The IRS does not have the best reputation of cutting delinquent taxpayers much slack, so that is why I wrote this article for you.
Offers in Compromise, The IRS and COVID-19
Back taxes can be a sore subject – one that never makes anyone smile – except perhaps in the movies. In the first season of the The Kominsky Method, an American comedy-drama on Netflix, an aging but still debonair Michael Douglas plays a once successful actor now Hollywood acting coach named Sandy Kominsky, who finds himself neck-deep in tax debt.
What Conditions Are Required to Get an Offer in Compromise from the IRS?
If you are in debt up to your eyeballs with the IRS with no end in sight, then you might want to consider an Offer in Compromise (OIC). An OIC is a repayment plan with the IRS where the taxpayer can propose paying a lesser amount and the IRS will forgive the remainder.