A great question from a reader about discharging taxes when successive bankruptcies are filed: Mr. Levy – I hope you can help me. I owe back taxes and filed a Chapter 13 to repay the IRS. The Chapter...
Read PostCategory: Bankruptcy - Chapter 13, Bankruptcy - Chapter 7, Bankruptcy and the IRS
Being successful in an offer in compromise can depend on how much you know about IRS settlement guidelines. An offer in compromise is a negotiation – you may have points to make with the IRS that only you can...
Read PostCategory: Form 433A, Form 433B, IRS Financial Statements, Offer in compromise
IRS trust fund recovery penalty investigations are a sure source of unease. Trust fund investigations can place personal liability on you for not paying your employees’ withholding taxes to the IRS. Adding to the dilemma is an IRS request during the trust fund...
Read PostCategory: Employment taxes, Form 433A, IRS Financial Statements, Trust fund recovery penalty
The IRS has two ways to collect back taxes: a Federal tax lien and tax levy. A tax lien is different from an IRS levy – the lien does not result in the IRS taking your property from you. That is done...
Read PostCategory: IRS levies and property seizures, IRS Seizures, Tax liens
One of the most common concerns about owing the IRS back taxes is that they will show up one day and take your house or car from you. No matter what the IRS may tell you or...
Read PostCategory: IRS levies and property seizures, IRS Seizures
Trying to repay the IRS in an installment agreement can be difficult. The interest and penalties the IRS charges doubles the original amount of tax you owe every five years. Your installment agreement may keep...
Read PostCategory: Bankruptcy - Chapter 13, Bankruptcy and the IRS, Installment agreements, Interest and penalties
