20
Jan

What is a One Time Forgiveness and does the IRS offer it to everyone?

One Time Forgiveness With more than a million people owing money to the IRS at any given moment and the limited resources and workforce that the IRS has, the IRS does have the self-awareness that they cannot collect every penny every tax debtor has owed. However, the IRS does intend to collect every penny it

16
Jan

Can the IRS take away my home?

YES, they can, but most likely they won’t. The IRS has the ability and legal power to seize your property to force you to pay back your tax debt. Taking your property is one of the most potent and fearful tactics in its arsenal. However, the IRS does not seize any tax debtor’s property any

08
Jan

What is Offer in Compromise and How Does it Work?

An Offer in Compromise (OIC) is an agreement between the IRS and a person who owes tax debt to the IRS to settle their tax debt for less than the full amount they were originally owed. Anyone who owes tax debt can make the offer, but IRS will only accept the offer from qualified taxpayers

17
Dec

What is a tax installment plan and, how much do I pay?

A tax installment plan is an agreement between the IRS and a person who owes tax debt to the IRS to repay the said tax debt within a time period. The installment plan must be paid in full by the taxpayer within the time period agreed by both the IRS and the taxpayer to clear