If you owe taxes, the IRS isn’t the only tax authority you will face. Even if you reduced your tax obligation or secure an offer in compromise, you have not reached the finish line. You’ll still be up against the state tax authorities — which are a separate entity...
If you owe the Internal Revenue Service money, the Service will catch up with you sooner or later. The IRS offers a few alternatives if you aren’t able to pay what you owe in full. Taxpayers typically have two options — an offer in compromise or an installment plan....
Owing taxes can be stressful and overwhelming. If you are seriously delinquent in paying your taxes, you may be concerned that the IRS can place a lien against your property, levy your bank account, or seize your property to satisfy the debt. However, be aware that...
If you owe the Internal Revenue Service money and are wondering “how long does the Internal Revenue Service have to collect back taxes,” you may be relieved to know that you won’t have to carry the burden forever. Just a very, very long time. The Internal...
For most people who do not work with the Internal Revenue Service (IRS) on a regular basis, when you receive a letter in the mail from the IRS, you may feel panicked. You might want to leave the letter unopened, or throw it away and never think about it again....
Discourage litigation. Persuade your neighbors to compromise whenever you can. -- Abraham Lincoln Last week we discussed ways to negotiate with the Internal Revenue Service (IRS) during Notice Season. One of those ways is to enter into an Offer In Compromise (OIC), a...
