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5 Essentials Things to Remember About the IRS Offer in Compromise Program

Mired in tax debt? The IRS offer in compromise could be your path to a fresh start. This program allows select taxpayers to settle their bill for far less than they actually owe. Whether you intend on seeking an OIC or simply would like to know more about your options, you’ll want to keep the following five […]

What Will Happen to the IRS if There’s Another Shutdown?

President Trump’s decision to declare a national emergency and divert military funds to border wall construction was, to put it lightly, controversial. If, however, the critics can find a silver lining, it’s that this approach could prevent a second shutdown…for now. Unfortunately, however, another shutdown is far from out of the realm of possibility. If […]

IRS Delays and Backlogs: What a Scary New Internal IRS Report Reveals

The recent government shutdown wreaked havoc on a variety of federal agencies, including, of course, the IRS. This all happened at the worst possible time — while IRS employees were dealing with the fallout of the new tax bill. A recently released National Taxpayer Advocate Annual Report to Congress reveals that the shutdown-related challenges faced by […]

Innocent Mistakes That Could Disqualify You From Getting An IRS Offer in Compromise

An IRS Offer in Compromise may seem like your best bet for escaping the burden of tax debt that currently dominates your life — but it’s by no means guaranteed. One wrong move on the long road ahead, and you could inadvertently disqualify yourself from this valuable program. As you proceed, make every effort to […]

Quick And Interesting Stats About the IRS Offer in Compromise Program

The IRS Offer in Compromise (OIC) program provides a valuable opportunity for those who struggle under the burden of tax debt; qualified individuals agree to make payments in exchange for a significant reduction in tax liabilities. But while accepted taxpayers and certain IRS representatives sing the program’s praises, statistics often tell a different story. Applications […]

Tax Planning For the New Year: How to Avoid Past Mistakes

Admit it: 2018 was a tough year. If you’re like many taxpayers, late payments, interest, and nasty calls from the IRS left you feeling stressed and anxious. You’re hoping for a better 2019, but hope alone is not enough — you need to plan now to ensure that you avoid the pitfalls that got you […]

Strategies For Taming Your Tax Debt In 2019

With a new year comes new opportunities to get your finances back on track. If you’ve suffered tax issues in the past, it’s time to tackle the problem head-on. Your hard work now could pay considerable dividends down the road. The following are a few top strategies for getting your tax situation under control: Seek […]

Risks and Benefits of Obtaining ‘Currently Not Collectible’ Status With the IRS

Many responsible Americans file their taxes on time, but simply cannot afford to pay what they owe. If you count yourself among these unfortunate individuals, relief may be available in the form of ‘Currently Not Collectible’ (CNC) designation. If your account is deemed not collectible, you could be spared many of the negative consequences that […]

How Do You Qualify For ‘Currently Not Collectible’ Status With the IRS?

You’ve incurred considerable tax debt and are concerned about your inability to pay; what now? If installment payments are not currently an option, it may be worth your while to explore an alternate approach: Currently Not Collectible (CNC) status. Read on to learn more about this option — and how qualification works: What Does It […]