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A client came to me with a big IRS problem.  The Client had received letters showing an estimated $64,324 in Federal and State taxes were owed for the years 2013, 2014, 2015, 2016, 2017, 2018 & 2019.  In visiting with the client it was discovered returns were not filed because of the spouce's dea...
01/16/2024
The Internal Revenue Service (IRS) plays a crucial role in ensuring taxpayers' compliance with tax laws, and one way it achieves this is through audits. Understanding the red flags that may catch the IRS's attention is vital for taxpayers aiming to stay on the right side of tax regulations. In th...
12/07/2023
The dreaded IRS audit – a prospect that can send shivers down the spine of even the most diligent taxpayer. One common method employed by the IRS is the mail audit. In this blog post, we'll take a closer look at what a mail audit involves and how you can navigate this process with confidence.Unde...
11/30/2023
An IRS audit is an examination of a taxpayer's financial records and tax returns by the Internal Revenue Service (IRS) to determine if the amount of taxes reported and paid is accurate. Some key things to know about IRS audits: Selection Process - Tax returns are selected for audit either randoml...
11/10/2023
There are three types of offer-in-compromise (OIC) options available to taxpayers: Doubt as to Liability: This type of OIC is used when there is a genuine dispute about the tax liability. It is typically applicable when the taxpayer believes they do not owe the full amount claimed by the IRS. Dou...
09/14/2023
In order for a taxpayer to qualify for an offer in compromise, they must file all necessary tax returns, make all necessary estimated payments, be free of open bankruptcy proceedings, and, if they are an employer, have made current and past quarterly tax deposits before applying for an offer in c...
09/12/2023
The Internal Revenue Service (IRS) offers taxpayers the option of settling their tax debt for less than the full amount owed through an offer in compromise. Taxpayers who are unable to pay their entire tax obligation or for whom doing so would cause a financial hardship are eligible for it.Each t...
09/07/2023
Many taxpayers owe the IRS money or haven't filed tax returns for a few years.  It has been a relief for these taxpayers as they haven't heard from the IRS.  They think the IRS forgot about them or they got away with something.  However, the days of getting away with not paying taxes are coming t...
06/01/2023
We have all heard the ads stating how you can settle your tax debt with the IRS for pennies on the dollar.  Sounds amazing doesn't it?  It is amazing but it is a long process and not everyone qualifies for the program.The program the ads are referring to is called Offer-in-Compromise (OIC).  This...
05/25/2023
There are 3 ways to clear up your tax situation with the IRS:Quiet Disclosure:  This is where you submit past year's tax returns in a way that will not raise red flags with the IRS.  You are hoping that you are able to file the returns quietly to become compliant with the IRS and continue to stay...
04/17/2023
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