What You Need to Know About Tax Relief Companies
We’ve all heard, ad nauseum, the constant television and radio commercials from tax relief companies claiming they can settle your tax debt for “pennies on the dollar” while prompting you to call some 1-800 number. These companies often refer to the IRS “Fresh Start” program and mislead taxpayers by saying they qualify for an IRS hardship or settlement program, a determination that is ultimately made by the IRS. The Federal…
The IRS Offer in Compromise: Doubt as to Collectability
One of the most powerful tools available to taxpayers facing federal tax debt is the IRS offer in compromise – doubt as to collectability. This is typically what those “1-800” tax service company commercials are referring to as “pennies on the dollar” tax settlements. Taxpayers often do not realize how this process works and the complexities that can arise through the course of submitting an offer in compromise. An offer…
What You Need to Know About Resolving IRS Tax Debt
Many American taxpayers face income tax debt with the IRS and are subjected to severe IRS collections efforts, including levies, garnishments, and liens. Taxpayers facing what may seem like the full force of the federal government breathing down their necks far too often give up on a disputed tax issue or back taxes that they just can’t pay. With a better understanding of their rights, taxpayers can perhaps find some…
The Consequences for Not Filing Your Federal Income Tax Returns
Have you ever wondered what would happen if you decided to stop filing your income tax returns with the IRS? Or, like many of my clients, are you waiting in absolute terror to see what the IRS does after years of not filing your returns? The answer to these questions is actually quite simple and can have a somewhat good ending or a very bad one, depending on a multitude…