A taxpayer will often end up with a huge tax bill that will be above what they can afford. This leaves most taxpayers confused on the next cost of action. Owing Uncle Sam, a sum...
Posted by Don Bell Law on 01/26/2021
When a taxpayer cannot pay the tax bill (now or in the future) with future assets and monthly income, they may qualify for the I.R.S. Offer in Compromise program—providing a...
Posted by Flynn Financial Group Inc on 01/23/2021
Owing money to the IRS can be a daunting prospect when you don’t know the procedure or how to handle the debt. The consequences for neglecting to pay a debt or respond...
Posted by Don Bell Law on 10/29/2020
Sometimes it is possible to cancel your tax return with a huge reduction. If you qualify for something known as an offer in compromise, known as an "OIC" or "Offer,"...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 10/21/2020
Individuals and businesses with unpaid tax balances may face severe penalties from the Federal Revenue Service (IRS), including possible forfeiture of personal or business property...
Posted by The TaxAdvocate Group, LLC on 10/21/2020
When it comes to taxes, people often make mistakes which are quite normal. However, when these mistakes lead the IRS to perform audits of your business or personal assets, repaying...
Posted by Carmen Garcia on 09/28/2020
Choosing the right type of entity is a multifaceted analysis. It necessarily depends on a variety of factors, including business objectives, type of business, desire for liquidity...
Posted by Unifirst Financial & Tax Consultants on 09/21/2020
There was a historic adjustment made by the Tax Cuts and Jobs Act (TCJA) to the federal tax code. Although this triggered a significant tax break with many business entities, many...
Oh, what good news it is for taxpayers – that there is a program that allows them to pay way less than what they owe. This is called the IRS Offer in Compromise (OIC).However,...
Posted by Don Bell Law on 07/16/2020
