I often have new clients come in who owe the IRS under $25,000 and have the ability to repay the debt with monthly installment agreements. If we determine they can repay the debt within 60 months,...
Read PostCategory: Automated Collection Service, Installment agreements, IRS collection notices, IRS Financial Statements
With more money sitting delinquent in the US Treasury than the government has resources to collect, this is a great question. All of that “quiet” debt does go eventually go away. The IRS has 10...
Read PostCategory: Statute of limitations on collections
This week, the New York Times reported that the cost of a 30-pound sack of rice has doubled, and a 15-pound bag of flour has almost tripled for restaurants. An article yesterday in The Cincinnati Enquirer...
Read PostCategory: Employment taxes, IRS Collection Problems, Trust fund recovery penalty
This is frustrating, and has happened to my clients in the past. The IRS does not want the compromise to default any more than you do. The IRS wants to give you an opportunity to...
Read PostCategory: IRS Audits, Offer in compromise
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...
Read PostCategory: Form 433A, Form 433B, IRS Financial Statements
