I thought it would be interesting to look into and explain some of the more common reasons offers in compromise are rejected. Many times it is not because the offer in compromise is unreasonable or out of line, but because the taxpayer simply does not respond in time. Check out my Top 5 [...]
Don’t you LOVE the IRS. I’m sure many people will be receiving "Valentine’s Day Cards" from the IRS today telling them that they owe thousands upon thousands of dollars to the IRS. That places stress on you personally and indirectly on your love life at home. This Valentine’s Day start down the road to [...]
The past two weeks, we have talked about the Trust Fund Recovery Penalty:
Who is responsible for the Trust Fund Recovery Penalty?
What is the Trust Fund Recovery Penalty?
The Trust Fund Recovery penalty is generally a business tax that is being assessed against the owner of a business personally. Many times, but not always, this [...]
Question:
My husband and I have been married since 2001. We have joint tax liability since then, and I also have tax liability from 1998 through 2000. Can we file just one offer in compromise?
Answer:
When you file an offer in compromise, the IRS is required to compromise ALL of your tax liability. So [...]
Here is a collection of the Top Ten Most Litigated Tax Issues from 2007 as determined by the National Taxpayer Advocate, Nina Olson.
Collection Due Process hearings (IRC §§ 6320 and 6330);
Gross income (IRC § 61 and related Code sections);
Summons enforcement (IRC §§ 7602(a), 7604(a), and 7609(a));
Civil damages for certain unauthorized collection actions (IRC § [...]
I was in a meeting recently with my clients and the revenue officer from the IRS who is assigned to their case. This client was primarily a business client meaning we were working on getting their business on the right track with the IRS when it suddenly turned into a personal client because of [...]