Archive for April, 2007
Why So Much Hype Around the Offer in Compromise from Competition?
A lot of the competitors in my business spend a ton of money advertising on television and the radio. You hear the hype, “settle your taxes for ‘pennies on the dollar.’” This hype gets people going. They want to get out of what they owe to the IRS for much less! [...]
How to Keep Your Taxes Paid in the Future
QUESTION:
I always seem to owe taxes in April, and since I am trying to get my tax liability straightened out, I’ve heard I cannot owe any more taxes or it will adversely affect my potential to negotiate an offer in compromise or an installment agreement. Is that true?
ANSWER:
Well, you’ve made it through another tax season. [...]
Statute of Limitations for IRS to Contest a Return
There is a statute of limitations for the IRS to contest an income tax return and begin to collect a deficiency. So what is a statute of limitations? The statute of limitations provides a final date where the IRS cannot begin new collection action on a tax return. [...]
Substitute Filed Returns by the IRS
QUESTION:
I haven’t filed my taxes in over ten years, but recently my bank account was levied and the notice I received showed that I owed a lot more money than I ever thought? How can the IRS assess taxes against me even though I never filed a return?
ANSWER:
The IRS cannot assess a tax against [...]
Ideas about Getting New Clients when you’re a new lawyer
Since I had to temporarily take over the operations of a law practice due to my boss being temporarily suspended, I have really felt the stresses of operating a small business and the pressures of whether you will make payroll, or be able to pay the bills. For a lawyer, obtaining new clients is [...]
Start Tax Planning Now for Next April 15th
Whew! Made it through another tax year. Did you end up having to mortgage the farm to pay your taxes this year? Did you pay a little more in taxes than you were expecting? Did you not file or pay your taxes at all because you’re afraid that if you file [...]