by James Wade | Nov 10, 2021 | Income Taxes, IRS, IRS Back Taxes, IRS Offer-in-Compromise, IRS Penalties, Offers in Compromise, Taxpayers
IRS Installment Agreements – Types of Installment Agreements In our last blog post, we talked about IRS installment agreements. Just to recap, an IRS installment agreement is a monthly payment plan to pay taxes, interest, and penalties over time to the Internal...
by James Wade | Jun 30, 2021 | Income Taxes, IRS, IRS Offer-in-Compromise, Offers in Compromise, Tax Controversies, Taxpayers
But I Don’t Owe This! When to Use a “Doubt as to Liability” Offer in Compromise It may sound to good to be true, but if you feel you do not owe some part of your tax debt, you can raise your concerns to the IRS. This is called a doubt as to liability offer in...
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...
by James Wade | Jul 6, 2020 | IRS, IRS Back Taxes, IRS Offer-in-Compromise, Offers in Compromise
Bankruptcy versus Offer in Compromise, A Comparison What is Different? Bankruptcy OIC Who runs the process A court process where IRS is just one of many creditors. An administrative process controlled by the IRS. Which tax debts are dischargeable Tax debts are...
