by James Wade | Mar 26, 2020 | IRS, IRS Back Taxes, Offers in Compromise, Tax Controversies, Taxpayers
The Three Types of IRS Offer-in-Compromise Programs I have previously introduced what an IRS offer-in-compromise is (for more detail on the basics click here). Briefly, an IRS offer-in-compromise is a legally binding contract between the taxpayer and the IRS to settle...
by James Wade | Mar 9, 2020 | Income Taxes, IRS, IRS Back Taxes, Tax Controversies, Taxpayers
How the IRS Offer-In-Compromise Process Works Before discussing the IRS offer-in-compromise process (or “OIC”), it is helpful to briefly tell you what an offer-in-compromise does. A taxpayer who has a large tax debt which cannot be paid off using either...
by James Wade | Feb 21, 2020 | Income Taxes, IRS, IRS Back Taxes, Tax Controversies, Taxpayers
Tax Transcripts – Why They Matter I am going to share a little inside baseball to those of you reading this post. I can, 95% of the time, know how to resolve a client’s case from reading tax transcripts. Tax transcripts are the information stored on the...
by James Wade | Feb 6, 2020 | Income Taxes, IRS, IRS Back Taxes, Offers in Compromise, Tax Controversies, Uncategorized
IRS Final Notice of Intent to Levy. Now What? In my prior post, I described how the IRS bills taxpayers. One of those dreaded letters is the final notice of intent to levy. If you see the following line on your IRS notice, sit up and take notice: Intent to seize your...
by James Wade | Jan 23, 2020 | Income Taxes, IRS, IRS Back Taxes, IRS Tax Liens, Taxpayers
What Do All These IRS Collection Letters Mean?! The IRS is the collection arm of the US Treasury. If you’ve never paid all your bills on time, you know that you will very likely get a letter asking for payment. The IRS is no different. Collection letters from...
