The break you’re in need of may be on its way if you’re struggling with back taxes. The Internal Revenue Service Commissioner announced an initiative to help taxpayers get a fresh start with their tax liabilities on February 24, 2011. One possible way of reducing your past tax liabilities and avoiding IRS tax liens is… Continue reading →
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Understanding The Three Settlement Types for an Offer in Compromise
The Offer in Compromise is a specific tax relief option made available by the IRS through which a taxpayer offers the IRS a certain amount of money in exchange for which the IRS agrees to cancel the taxpayer’s outstanding tax debt. While it is an effective tax settlement option for a very specific group of… Continue reading →
Learn How the IRS Grants An Abatement of Penalties
Penalties in the form of interest and other fees are incurred when a taxpayer fails to file a tax return by a filing deadline and/or fails to pay a tax debt when it is due. Although interest and other penalties assessed by the IRS function to create equity within the tax system and encourage compliance,… Continue reading →
