You have undoubtedly heard TV advertisements promising to “compromise” “settle” or “negotiate” your IRS debt & you are given the impression that the result is guaranteed to be in your favor. If you will notice, these ads rarely come from Attorneys because Attorneys have a duty of honesty and advocacy for your interests. Many of […]
Currently Not Collectible
The advantages & disadvantages of being in temporarily uncollectible status with the IRS.
Steps to secure an installment agreement with the IRS
Payment with No Agreement There are some advantages to simply paying the IRS without a payment agreement, i.e, “Voluntary Payment”. For one, you can designate which year to apply the payments. This is helpful if you owe for multiple years & need to favor a particular year. But, the IRS will keep pestering you […]
The financial disclosure forms required by the IRS
If you owe the IRS they will require your financial disclosure by asking you to complete a “Collection Financial Statement”. The Form to send them is a Form 433. The IRS may even request the Form. (See Notice LT27) There are several varieties of Form 433. The IRS will want to know your income, debts, […]
Proving a Financial Hardship
Essentially, you will prove your financial hardship with the documentation which supports the entries you provide on the Form 433A which the IRS will request of you. This information can be used for a Penalty Abatement Request, to prove Uncollectible Status or to induce acceptance of an Offer in Compromise. For starters, you must diligently […]
Powers of IRS Revenue Officers
When the IRS audits you they send an IRS Agent to investigate. When you owe taxes, the IRS sends a Revenue Officer to collect. This article deals with IRS tax debts and the powers of IRS Revenue Officers. Before they contact you about your file, the IRS Revenue Officer has already done an extensive background […]
