Do you disagree with the IRS, and are becoming frustrated because no one is listening? Maybe you are under audit, and the IRS Revenue Agent is being difficult, taking unreasonable positions, or proposing changes to...
Read PostCategory: Automated Collection Service, IRS Appeals, IRS Audits, Revenue Officers
You’ve made it – reached account resolution with the IRS by entering into an installment agreement to repay your taxes. You may have had to negotiate with a local IRS Revenue Officer, or over the...
Read PostCategory: Automated Collection Service, Cincinnati Ohio IRS, Installment agreements, IRS collection notices, IRS Financial Statements
As a general rule, count on IRS interest and penalties doubling the amount you owe every five years. Interest is only part of the cause; it is the penalties that really hurt. Interest rates...
Read PostCategory: Bankruptcy - Chapter 13, Bankruptcy - Chapter 7, Bankruptcy and the IRS, Interest and penalties, Offer in compromise, Unfiled returns
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
In addition to offers in compromise, bankruptcy, and uncollectible (See Part I, above), here are three more solutions to owing back taxes to the IRS: Statute of limitations on collection. The IRS has 10 years to...
Read PostCategory: Bankruptcy and the IRS, Currently Not Collectible, Installment agreements, Interest and penalties, Statute of limitations on collections
I received this question about using an offer in compromise on interest and penalties: I owe $25,000 in tax, but the interest and penalties have made the amount I owe almost double. Won’t the IRS...
Read PostCategory: Bankruptcy - Chapter 13, Bankruptcy - Chapter 7, Bankruptcy and the IRS, Interest and penalties, Offer in compromise