The Tax Compromise Improvement Act of 2009

House Ways and Means Oversight Committe Chairperson Charles Lewis and Ranking Member Charles Boustany have introduced H.R. 2343, the Tax Compromise Improvement Act of 2009.
The bill would eliminate the requirement of IRC 7122(c) that lump sum offers must be accompanied by an upfront payment equal to 20% of the value of the compromise.  The bill would also [...]

IRS Financial Statements Revised – Traps Included!

For the first time in 4 years, the IRS revised the financial statements that are required to be used in collection cases.   There are several changes that are noteworthy, and to be careful with when answering.  On Form 433B, used to investigate businesses with IRS problems, the IRS asks who is responsible for depositing payroll taxes.  
The [...]