How does the IRS value retirement accounts in an offer in compromise?

I recently received a email question inquiring about how the IRS values retirement assets in an offer in compromise.
If you do not have the right to access the retirement money, then neither does the IRS, and it is not included in the value of a compromise. In other words, the IRS steps into your shoes. [...]

IRS levies on Social Security benefits - enforced collection on those who can least afford it

I have seen an increase in calls to my office from retirees who have received an IRS levy on their Social Security benefits.  In most every case, the levy (1) relates to conduct from self-employment when they were younger, and that conduct has long ago ended and (2) creates a substantial hardship for the retiree, [...]

IRS by the numbers

IRS enforced collection activity continues to heat up.  Compromise settlements are down by 70% while bad debt accounts continue to accumulate.  Here are the numbers:
1.     779,000 taxpayer accounts were assigned to the IRS collection queue.
2.     The number of offers in compromises accepted by the IRS declined by 70% from 2001 (38,643) to 2007 (11,618).
3.     [...]

What do all of these different IRS collection letters mean?

IRS collection letters often look similar, and all seem intimidating. But they are not.
I get calls from my clients all the time who have received IRS collection letters and are in a state of anxiety. I ask them to read me what the heading of the letter says, and fax a copy over so I [...]