Collection Financial Standards

You just received a letter from the IRS notifying you that they are rejecting your offer in compromise.  Enclosed with your letter are the IRS calculations, detailing why your offer was rejected. The IRS might as well be speaking a foreign language – what do all their calculations mean? And do you have a good […]

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You owe the IRS and would like to put past mistakes behind you and get a fresh start.  You may have heard a lot about the IRS offer in compromise program – popularized by those deep-voiced TV and radio advertisements that makes it sound like you just call the IRS, offer a number, they say […]

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The IRS has two main sources of carrying out its work in collecting taxes:  local Revenue Officers and its Automated Collection Service. When you get that call or letter from IRS collections, it’s important to know who you are dealing with – and what to expect. The IRS Automated Collection Service – commonly known as […]

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You decide to tell the IRS collection representative what you make, give them your paystubs, and innocently list your monthly living expenses.  You would like a payment plan, and have some idea of what you can afford.  Or you do not think you can afford any payment, and would like the IRS to put your […]

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Some things can be simple to negotiate with the IRS.  If you are looking for a great way to repay an income tax liability to the IRS, consider a streamlined installment agreement. Streamlined installment agreements are available to anyone who owes under $25,000 and can afford to repay their balance in five years.  If you […]

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Before jumping in with an offer in compromise, it is important to understand how the standardized IRS expense allowances apply to you, and how they can benefit you. Here is a valuable offer in compromise expense allowance to be aware of and to claim: The IRS will allow you to claim a $200 vehicle ownership […]

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