Tax Relief Blog

Did the IRS recently terminate your Installment Agreement?  If your IRS termination letter is dated less than 30 days ago, you may be able to Appeal it by submitting a Collection Appeal Program (CAP) request on form 9423. 

We recommend catching up your missed payment or correcting whatever issue may have caused your IA to default in the first place before submitting the CAP.  In addition, you may want to simply call the IRS once you've corrected the issue to see if a representative can rein...

Since the IRS Fresh Start Initiative revised the Offer in Compromise, more people than ever are getting their Offers accepted.  If you've had your OIC accepted, you're likely getting a good deal from your IRS settlement.  If your accepted Offer was a Lump Sum Cash OIC, you got a really good deal.  Here's why.

You have two basic choices to pay your Offer amount.  Lump Sum Cash and Periodic Payments. 

A Lump Sum Cash Offer in Compromise requires 20% of your total Offer amount to be paid with...

Does your family have a vehicle?  Two?  Three?

If you are negotiating a back tax debt with the IRS, you may be subject to the Collection Financial Standards.  If you have three vehicles in your family, the IRS may only allow the expenses associated with two of them when determining your collection potential. 

In addition, they may not allow your whole monthly car payment or your monthly vehicle operating expenses.  The Service has ceilings on these expenses for collection purposes.

They a...