Podcast Episode 11: Can't Pay Your Taxes? What to Do. In this episode, Jerrod Oltmann and I discuss what your options are if you can't pay your taxes on July 15th....
Podcast: What to Do if You Can’t Pay Your Taxes by July 15th
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Income Taxes
Insights and Advice from Your Trusted Tax Resolution CompanyPodcast: Tax Preparers Gone Wild or How the IRS is Failing to Rein in Bad Apple Preparers
Podcast Episode 10: Tax Preparers Gone Wild In this episode, Jerrod Oltmann and I discuss tax preparers gone wild or tax preparers who either fail to file a return themselves or help their clients to avoid paying their taxes....
The IRS Offer-In-Compromise Process
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...
Tax Transcripts – Why They Matter
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...
What to Do With an IRS Final Notice of Intent to Levy?
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...
What Do These IRS Collection Letters Mean?
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....
Dealing with Tax Returns in Divorce
Tax Returns and Divorce Taxes are one of life's inevitables. You cannot avoid it even while getting a divorce. In this blog post, I lay out three things to understand when dealing with tax returns in divorce. Why you need to get advice...
What Your Family Attorney is NOT Telling You.
Hidden Tax Traps in Divorce Your Attorney Won't Tell You About Look. Your attorney is doing the best job he or she can. Family law is what they do day in and day out. He or she is just not a tax expert and may not know about all the tax...
IRS Serious About Taxing Virtual Currency
If you IRS on the Hunt This summer the IRS issued 10,000 letters to taxpayers who it believes should have reported virtual currency sales (also called cryptocurrency). Virtual currency, in a nutshell, is a digital unit of value. So like...
My Son, Potty Training and the IRS
What The?! Your first question, logically, is what the heck do these three things have in common? Read on... Just Plain Stubborn I love my son but he is very very stubborn. He is 3 years old and we are in the process of potty training...
New Video: What to Do If You Cannot Pay Your Taxes
What to Do If You Cannot Pay Your Taxes?! I prepared a video, something I intend to do more of, discussing the first thing you need to understand if you cannot pay your taxes: get current. Current compliance is very important when dealing...
Offer-in-Compromise Basics: What is Reasonable Collection Potential?
In my last blog post I talked a bit about the three types of offers-in-compromise. Offers as to doubt as to collectability make up a large majority of offers made to the IRS. The key to making a successful offer based on doubt as to...
