IRS Installment Agreements – Is it Right for You? Often taxpayers in trouble are unable to pay what they owe immediately. So, what do you do? Luckily, there are ways to break down payments into something more manageable. The IRS offers payment plans that allows the delinquent taxpayer to pay what … [Read more...]
But I Don’t Owe This! When to Use a “Doubt as to Liability” Offer in Compromise
But I Don’t Owe This! When to Use a “Doubt as to Liability” Offer in Compromise It may sound to good to be true, but if you feel you do not owe some part of your tax debt, you can raise your concerns to the IRS. This is called a doubt as to liability offer in compromise. Let’s first take a step … [Read more...]
Confidential informants and whistleblowing: Making Money by helping the IRS!
Confidential informants and whistleblowing: Making Money by helping the IRS! What is the IRS Whistleblower Program? Believe it or not, the IRS has a program set up to reward taxpayers who to inform the IRS about other taxpayer’s tax fraud or tax evasion. That’s right! Called the IRS … [Read more...]
Married Filing Separately- Here’s What You Need to Know
Married Filing Separately- Here’s What You Need to Know Marriage can bring about the merging of responsibilities for a couple including combining accounts and assets. However, couples may find that some “separation” might be the best bet for them. This can be true in the case of filing taxes. … [Read more...]
Innocent Spouse Relief- A Deeper Look
Innocent Spouse Relief- The Program This month, we will close our discussion on innocent spouse relief. In my first post on the subject, I gave a broad outline and talked about how to sever the joint tax liability between you and your spouse. In the last post, I walked through what qualifies for … [Read more...]
Innocent Spouse Relief – What is Required?
Innocent Spouse Relief - What is Required? In my previous post, I discussed innocent spouse relief in broad outlines. In this post, I explain what are the foundational requirements. Innocent spouse relief is not granted merely for convenience or a matter of equity between two married (or … [Read more...]
Podcast: What to Do if You Can’t Pay Your Taxes by July 15th
Podcast Episode 11: Can't Pay Your Taxes? What to Do. In this episode, Jerrod Oltmann and I discuss what your options are if you can't pay your taxes on July 15th. https://taxresolutiontalk.podbean.com/mf/play/kju9nr/Tax_Resolution_Talk_Episode_11_Complete_9hstf.mp3 If you want some … [Read more...]
Podcast: Tax Preparers Gone Wild or How the IRS is Failing to Rein in Bad Apple Preparers
Podcast Episode 10: Tax Preparers Gone Wild In this episode, Jerrod Oltmann and I discuss tax preparers gone wild or tax preparers who either fail to file a return themselves or help their clients to avoid paying their … [Read more...]
The IRS Offer-In-Compromise Process
How the IRS Offer-In-Compromise Process Works Before discussing the IRS offer-in-compromise process (or "OIC"), it is helpful to briefly tell you what an offer-in-compromise does. A taxpayer who has a large tax debt which cannot be paid off using either current income or assets is a drain on the … [Read more...]
Tax Transcripts – Why They Matter
Tax Transcripts - Why They Matter I am going to share a little inside baseball to those of you reading this post. I can, 95% of the time, know how to resolve a client's case from reading tax transcripts. Tax transcripts are the information stored on the IRS computer system. Here is a short list of … [Read more...]
