Understanding The IRS “Soft Notice” Pilot Program to Encourage Income Reporting Compliance In 2007, the IRS launched a pilot program designed to decrease the tax gap by identifying unreported income. Under this pilot program, which is still in effect, IRS notices are issued to taxpayers when there is a discrepancy between the income reported on their tax… Continue reading →
IRS Notice
IRS Offer in Compromise – A Review of Eligibility Guidelines
We get a number of calls inquiring about the IRS Offer in Compromise Program. While an IRS Offer in Compromise is a very effective tax settlement option for a very well defined group of taxpayers, it is definitely not the optimum solution for anyone with an unresolved tax debt. The acceptance criteria for an Offer… Continue reading →
Can the IRS Take my Home Because I Owe Unpaid Taxes?
A common fear is that the IRS may take your valuable assets to pay off unpaid taxes. The fact is, if you owe the IRS money they have a legal right to seize your possessions, including your home but the reality is, you have the ability stop or resolve the problem before it gets to… Continue reading →
IRS Tax Settlement Help – Tax Debt Tips From a Qualified Tax Professional
The help of a qualified professional can be an invaluable asset when attempting to resolve a tax debt issue. However, finding the right person for the job can be a difficult task in itself. Many companies that advertise tax settlement help are made up of salespeople and marketing agents who know very little about negotiating… Continue reading →
Tax Levy – Understanding and Resolving IRS and State Tax Levies
Do you have or know someone with a tax levy? A tax levy is serious, it is the actual seizure of a taxpayer’s property by either the IRS or a State Tax Agency. It is one of the final steps in the enforced collection process and is usually exercised only after all previous attempts to… Continue reading →
Penalty Abatements and Penalty Waivers. What are they and how to qualify.
Penalty Adjustments and Penalty Waivers The assessment of penalties and interest are methods designed by the IRS and State Tax Agencies to encourage the timely filing and payment of taxes. These charges are imposed when a taxpayer fails to meet a filing deadline or fails to pay a tax amount when it is due. The… Continue reading →
