When a bankruptcy is filed on the IRS, Section 362 of the Bankruptcy Code imposes what is called an “automatic stay” on collection activity by creditors, including the IRS. The automatic stay requires the IRS to release...
Read PostCategory: Bankruptcy - Chapter 13, Bankruptcy - Chapter 7, Bankruptcy and the IRS, Innocent spouse
IRS Revenue Officers continue to become more aggressive in the field. Here is a new approach to look for: I had a recent case in which a Revenue Officer sent my client a notice stating...
Read PostCategory: IRS Audits, IRS collection notices, IRS Financial Statements, Revenue Officers, Summons
In most cases, the IRS will require the past six years of unfiled tax returns for an account to be considered current. This is a written directive of the IRS, found in IRS Policy Statement...
Read PostCategory: Criminal investigation, Substitute returns, Unfiled returns
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...
Read PostCategory: IRS Financial Statements, IRS levies and property seizures, Offer in compromise
