IRS Financial Statements

If you owe the IRS money, chances are they are going to want a collection information statement from you to determine how they can be repaid. The IRS does not make completing the collection information statement easy on you.  For starters, there are five different financial statements that the IRS collection division uses. How do you […]

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You are finally on good terms with the IRS – you agreed to a monthly payment plan, and have been filing and paying your taxes on time, as you are required to do. With that, the IRS should leave you alone, right? Not necessarily. The IRS has the right to review an installment agreement, and […]

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When the IRS levies your wages or accounts, it is usually to get your attention. There is something the IRS wants that you have not provided – it could be a financial statement, estimated tax payments, or getting in compliance on unfiled tax returns. And to get the levy released, the IRS is usually going […]

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It is possible to get an IRS installment agreement to repay your taxes without ever disclosing where you work, what car you drive, what your house is worth, or even what you can actually pay. No IRS Form 433A, Form 433B or 433F.  No application of the IRS Collection Financial Standards that can put a […]

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An offer in compromise can put IRS troubles behind you and bring a fresh start on your taxes. But the road to a fresh start with the IRS is not necessarily as simple as it may sound. The IRS has very strict criteria that they use to determine if a tax debt should be compromised. […]

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You just received a batch of IRS collection letters stating that your tax problem is “Urgent,” that the IRS might levy your wages, and, finally, that you should call the IRS immediately. You consider doing what the IRS asked – picking up the phone and calling the IRS Automated Collection System (commonly known as “ACS”). […]

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