IRS Offer in Compromise Settled for $283.00

Our client came to us last year with an IRS tax issue totaling $20,000. He didn’t know where to turn or what to do. However, he was aware he wanted to file for an IRS Offer in Compromise. We immediately began working with him to do so. In order to qualify for the IRS Offer […]

First Time Penalty Reduction Granted for $2,200!

Our client came to us last fall with a smaller tax liability, along with IRS penalty and interest charges, stemming from an audit. He was interested in a penalty reduction as well as working out a payment plan of some sort on the remainder of the bill. Upon the client hiring us the IRS had […]

5 Tips on Filing an IRS Penalty Abatement Request

We receive quite a few calls from prospective clients inquiring about the receiving a reduction or a IRS penalty abatement in relation to penalties accrued. Most individuals and businesses alike do not qualify for a settlement program or a IRS penalty abatement. In fact, most clients we obtain we set up an affordable payment plan […]

Offer In Compromise Settled for $3,000!

We had a client come to us with a tax bill of well over $80,000 for tax year 2005 and was interested in filing for an Offer in Compromise. The debt was accrued by way of her former spouse who was self employed at the time. She was always a wage earner and paid in […]

What Will IRS Budget Cuts Mean in 2015?

The IRS promised to cut their budgets in 2015, again. The unfortunate part is what the taxpayer, myself as a practitioner, as well as others will deal with when looking to speak with an IRS representative. Below are a few examples of what we can expect in 2015: – Much longer hold times. The hold […]

5 Tips for filing an Offer In Compromise

The Offer In Compromise program has changed in the past and for the better.  However, today we are going to outline 5 tips on filing an  Offer in Compromise. – Make sure you check the box on the Offer In Compromise Form 656 indicating you have completed the pre-qualifier (and complete the pre-qualifier found at […]

Interest Rates Remain the Same For Q1

IR-2014-111, Dec. 4, 2014 WASHINGTON – The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2015.  The rates will be: three (3) percent for overpayments (two (2) percent in the case of a corporation); three (3) percent for underpayments; five (5) percent for large […]