by James Wade | Nov 22, 2020 | Divorce, Income Taxes, Innocent Spouse Relief, IRS
Innocent Spouse Relief – What is Required? In my previous post, I discussed innocent spouse relief in broad outlines. In this post, I explain what are the foundational requirements. Innocent spouse relief is not granted merely for convenience or a matter of...
by James Wade | Oct 16, 2020 | Innocent Spouse Relief, IRS, IRS Back Taxes
Innocent Spouse Relief – How to Sever Your Joint Tax Liability with Your Spouse (or Former Spouse) As a married couple, filing a joint return can yield a huge tax benefit. If you file separately, often you end up owing more. Congress placed limits on certain...
by James Wade | Sep 21, 2020 | IRS, IRS Back Taxes, IRS Offer-in-Compromise, Offers in Compromise, Tax Controversies
What is an Offer-in-Compromise Doubt as to Liability? Did you know that you can settle your IRS debt if you disagree with the amount due? Most settlements are done because the taxpayer cannot pay but the IRS will settle if you genuinely dispute what you owe. This type...
by James Wade | Sep 10, 2020 | IRS, IRS Back Taxes, IRS Offer-in-Compromise, Offers in Compromise
Paying for Your Offer In Compromise – Which is the Best Way? We have talked a lot about offers-in-compromise but a question not often asked is: which way is best to pay for the offer? The answer may surprise you. Fees Before addressing how the offer is paid for,...
by James Wade | Jul 27, 2020 | IRS, IRS Offer-in-Compromise, Offers in Compromise
What are the Cons of an Offer-in-Compromise? Nothing comes in life for free. Offers are no different. I can list off about a dozen things which could make an offer a bad idea. I will talk about the top three things as this is what gets people 90% of the time. I will...
