Do Collection Efforts Stop When You Submit an Offer in Compromise?
If you are facing IRS collection actions, the idea of settling through an Offer in Compromise (OIC) may sound like a relief. One of the biggest questions taxpayers ask is … Read more
What Forms Do I Need to File for an Offer in Compromise?
Applying for an Offer in Compromise (OIC) with the IRS can seem like an overwhelming task, especially if you are not sure what paperwork is required. Filing the right forms … Read more
What Are the Grounds for Requesting an Offer in Compromise?
An Offer in Compromise (OIC) is one of the main ways taxpayers can settle their IRS debt for less than the full balance. It gives struggling taxpayers the chance to … Read more
What Is Reasonable Collection Potential in an IRS OIC?
If you are considering an Offer in Compromise, you’ll likely come across the term Reasonable Collection Potential (RCP). This is simply the IRS’ way of figuring out how much money … Read more
Settle Your Tax Debt for Less with IRS Form 656
Owing back taxes can feel overwhelming, especially when the balance seems too large to ever pay off. Many people in this situation start to wonder if they will be stuck … Read more
Can I Appeal a Levy Once It Has Been Enforced?
One of the most urgent questions taxpayers ask when the IRS begins taking their assets is, “Can I negotiate with the IRS once they start a levy?” Whether the levy … Read more
What Happens to Interest and Ongoing Penalties When You Apply for Abatement?
When you secure penalty relief from the IRS, whether through First-Time Abatement (FTA) or a reasonable-cause waiver, it’s important to understand exactly what you’ve removed and what remains on your … Read more
How to Qualify for IRS First-Time Penalty Abatement and Waive Your Penalties
When life throws unexpected challenges your way, such as health issues, natural disasters or simple oversight, it’s easy to miss an IRS deadline and incur penalties. Thankfully, the IRS offers … Read more
How to Respond to an IRS CP2000 Notice
Receiving a CP2000 notice can feel alarming, but it does not mean you are under audit or automatically owe money. A CP2000 is a proposal for changes based on information … Read more
Understanding IRS Notice CP2000
An IRS CP2000 notice is a notice of proposed changes sent by the IRS when the income, credits, or payments you reported on your tax return do not match corresponding … Read more
IRS Notice CP49: Why the IRS Took Your Refund to Pay a Debt
For many taxpayers, getting a tax refund may be one of the few bright spots during tax season. That’s why it can feel like a punch to the gut when … Read more
Will the IRS Take Your Tax Refund for Unreported Income?
If you’ve ever filed your taxes expecting a refund, only to get a notice saying the IRS kept it, you’re not alone. One common reason this happens is because of … Read more
What Happens If You Understate Your Income on a Tax Return?
Understating your income on a tax return, whether by mistake or intentionally, is a serious issue in the eyes of the IRS. When income goes unreported, the IRS sees it … Read more
Can the IRS Take Your 401(k) to Pay Back Taxes?
If you’re struggling with tax debt, you might be worried about whether the IRS can touch your retirement savings. Specifically, many taxpayers ask: can the IRS take your 401(k) to … Read more
Which IRS Letters Are Sent by the Automated Collection System (ACS)?
When you owe the IRS and ignore their letters, they won’t just go away. In fact, the notices will keep coming, and they’ll get more serious over time. Many of … Read more
Can the IRS Seize Joint Bank Accounts?
If you share a bank account with someone who has IRS tax debt, you might be wondering: Can the IRS take money from a joint account, even if I don’t … Read more
IRS Final Notice to Levy: Difference Between LT11 and Letter 1058
If you’ve received an LT11 or Letter 1058 from the IRS, do not ignore it. These are both serious notices warning you that the IRS intends to seize your assets … Read more
Which IRS Form 433 Should You Use? A Quick Comparison
If you owe taxes to the IRS, you might be asked to fill out something called Form 433. But here’s the catch: there isn’t just one. And they’re not a … Read more
What Is IRS Form 433-H and Who Needs to File It?
When you’re facing a tax bill that feels impossible to pay all at once, especially one over $50,000, the IRS offers some structured ways to get back on track. One … Read more
Can I Sue the IRS for Improperly Seizing My Property?
If you’ve had property seized by the IRS, you may be wondering if you have any recourse if you think it was done improperly. Maybe you’ve received notices about a … Read more
