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OIC Mistakes

February 11, 2014 by in category irs tagged as , ,

Mistakes to avoid while applying for OIC If you owe the Internal Revenue Service, an Offer in Compromise (OIC) is a legitimate way to settle the debt. The goal of the IRS is to collect debts in their entirety, so you must show you have valid reasoning to ask for an OIC. If the agency […]

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Applying for an Offer in Compromise

February 10, 2014 by in category irs tagged as ,

Five Steps for an Offer in Compromise An offer in compromise is a tax settlement in which a taxpayer pays a sum that is less than the full tax owed. The IRS is willing to accept an offer in compromise when there is doubt as to whether it could receive a full payment in one […]

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IRS Tax Payment Plans

February 5, 2014 by in category irs tagged as , , ,

What to Expect From IRS Tax Payment Plans Most people do their best to stay on top of their taxes. However, filing errors or financial difficulties could result in owing back taxes. By contacting the IRS, you can come to an agreement on a payment plan to take care of your liability. You can also […]

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Failure to File or Pay Penalties

January 27, 2014 by in category irs tagged as , , ,

Forgetting to file your taxes or refusing the pay the amount that you owe in taxes can result in certain penalties. Depending on your actions and the situation, the penalties and consequences that you face may vary. Failure to File Penalty The penalty for failing to file your taxes by April 15th or the extended […]

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Wage Garnishment Release

January 25, 2014 by in category irs tagged as , ,

Having a wage garnishment put on your paycheck can be more than just a financial burden, as explaining the reasons behind your situation to an employer can be embarrassing and difficult. However, there are several different methods that can be undertaken to remove a wage garnishment. How to Release a Wage Garnishment If the garnishment […]

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IRS Notices

January 23, 2014 by in category irs tagged as , , ,

Different Types of IRS Notices and What They Mean Going out to a mailbox and finding an enveloped marked from the Internal Revenue Service can be a disturbing experience for many people the first time. It might mean and audit, an investigation, a penalty, or something worse; usually the most negative possibility often goes through […]

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Online payment

January 13, 2014 by in category irs, Taxes tagged as , ,

What is the IRS Online Payment Agreement Program? Owing the Internal Revenue Service (IRS) money is not an occurrence that is all that rare. However, it is also not something that you want languishing for months and years, on end. Indeed, the longer that it is not addressed, the more money you will owe in […]

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IRS (past due payments)

January 4, 2014 by in category irs tagged as , ,

Dealing With the IRS on Past Due Payments You buckle at the knees every time someone knocks at your door because you’re afraid your mean old “Uncle Sam” is going to send the authorities over to haul you away. The penalty for not paying your past due taxes can range from a minor wrist-slap to […]

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IRS recognizes same sex marriage

January 3, 2014 by in category irs tagged as ,

So what does that mean for their taxes? In August 2013, the IRS and U.S. Department of the Treasury ruled that same sex couples that had been legally married in a state that recognized their union would be considered married for federal tax filing purposes. Even if the state that the same sex couple resides […]

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Innocent Spouse Relief

December 30, 2013 by in category irs, Taxes tagged as ,

What Is Innocent Spouse Relief? Spouses who are being held liable for their partner’s mistakes and shortcomings in filing taxes may be eligible for innocent spouse relief. The IRS normally goes after both individuals in a marriage if they filed jointly on their tax return. By signing the return, they both take responsibility for what […]

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