How to write an offer in compromise

by Lee Anderson, II. on July 15, 2011

For taxpayers who are unable to pay their tax bill, or dispute liability, it is sometimes possible to make a deal with the IRS in the form of an OIC (Offer in Compromise). A successful OIC application enables the taxpayer to pay back less tax than is actually owed. In return for this IRS help, [...]

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Feeling Guilty and Responsible about Bankruptcy?

by Lee Anderson, II. on January 15, 2011

The vast majority of people who file for bankruptcy hardly ever dreamed they would in that circumstance. For many reasons, personal bankruptcy poses numerous ethical dilemmas; one of the questions that typically comes up for such individuals is

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IRS Tax Relief Arrangements

December 21, 2010

If you are having trouble paying your taxes or have incurred a huge amount of back taxes, call the IRS and inquire about IRS Tax Relief Programs.  There are two common arrangements for IRS relief. These are the offer in compromise and installment agreement. The Offer in Compromise is an IRS Debt relief arrangement where you may [...]

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I Owe Back Taxes – What Are My Options?

December 14, 2010

Most taxpayers receive a refund. But several have a remainder due to the IRS or other taxing authorities and the amount can convert from a manageable amount to something a bit scary. That raises the question, “What can I do with my tax debt?” The IRS and other taxing authorities are frequently very aggressive collectors [...]

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Tax Penalties And Interest

December 12, 2010

Tax penalties and interest are two things no one wants added on to the amount already due the IRS. If you don’t pay your taxes on time, the IRS will attach penalties and interest,but in all fairness to the IRS, they will also pay you interest if they are late getting your refund to you. [...]

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Ways To Avoid A Tax Audit

December 10, 2010

One of taxpayers’ greatest fears is being audited by the IRS (Internal Revenue Service). Even if you are sure that you have filed your taxes the right way, in the back of your mind, you think about when you will receive a phone call or letter from an IRS representative. You can worry a little [...]

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Debt Settlement: An Opportunity To Set Your Financials Right

December 8, 2010

Debt settlement definitely gives you an opportunity to repair your financial status by helping you to shift all your debt to one side. One should bear in mind that no debt settlement program will eliminate the debt completely but will ease out the financial pressure on you month after month and you could do the [...]

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Understanding IRS Debt

December 4, 2010

The Internal Revenue Service, or just referred to as the IRS, is a bureau of the Department of Treasury, that is charged with the gathering of taxes, and also the enforcement of the inner Revenue Code (IRC). In recent times, many US voters have found themselves saddled with IRS debt for a good sort of [...]

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