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
IRS Protection
16
Jan
Jan
08
Jan
Jan
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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
30
Dec
Dec
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2020 Tax Prep Reservations for Your Tax Resolution Plan
It’s that dreaded time of your for some of you, I know. However, if you need to ensure your IRS settlement stays safe or you are trying to negotiate with the IRS over tax debt, you need to ensure these three things! 1. FILE ON TIME! 2. DON’T PILE ON MORE TAX DEBT. (However, if
18
Dec
Dec
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New Tax Debt Relief Program Annouced from the IRS
The IRS released a new program this week called the Taxpayer Relief Initiative, which aims to assist taxpayers who cannot pay their taxes because of the ongoing pandemic. Taxpayers who have tax debt from previous years or due to the continuing pandemic and unable to pay for the debt have options offered by the IRS,
17
Dec
Dec
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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
22
Nov
Nov
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IRS is a really shameful Grinch!
Picture this: It’s December 15, you are prepping for the holidays, getting some last minute shopping done and talking to relatives about who is going to be where. All is well. Sure you have some issues with the IRS but now is not the time to think about that. You will deal with it in