IRS Offer in Compromise
How to Help Your Boss with Tax Issues (3 Ways) This article is to help employees of companies with owners who are overwhelmed. This especially applies if you work for a struggling business that is having trouble keeping enough cash flow. Some of the signs of a struggling company may be: Payroll is often slow,…
Read More Do Tax Liens Affect Your Credit Rating? This is a trick question. The Positives: Tax liens currently do not affect your credit score. Because of the Equifax case back in 2018, the credit bureaus stopped including tax liens on credit reports as derogatory history. Note: Before 2018, yes, tax liens definitely were…
Read MoreIRS Problem: From Hot Mess to Hot Success Dealing with the Internal Revenue Service (IRS) can be an overwhelming experience, as illustrated by a recent case handled by Tax Law Offices. The client arrived at their doorstep with a chaotic situation – erroneous tax returns, a staggering tax liability of $65,000, and a tangled…
Read MoreDo You Have to Report Gambling Winnings? Today we are going to talk about whether you must report gambling winnings on your taxes. It’s a simple question, but the answer is a little more complicated. Gambling winnings are reportable on your federal and state income. 1. Can You Deduct Your Losses Against…
Read MoreIRS Offer-In-Compromise -The Number 1 Mistake Homeowners Make You have heard the saying, “there’s no place like home.” But what if you are trying to do an Offer-In-Compromise with the IRS and you have a lot of equity in your home? You want to protect that equity, right? In these situations, you may be…
Read MoreCan an Offer-In-Compromise for payroll taxes include your personal liability? This is our Morning Coffee Series, and we’re going to talk more about that today. Can you include personal liability for payroll taxes in your Offer-in-Compromise? The answer is YES! Trust Fund Recovery Penalty As a business owner, you must…
Read MoreHow Long Can IRS Collect Tax Debt? Potential clients often ask: How long can IRS collect this tax from me? This is our Morning Coffee Series, and we’re going to answer that question. How long can the IRS collect tax liability? Generally speaking, the IRS can collect tax for ten…
Read More What are the payment terms for an IRS Offer-In-Compromise? If you’re filing an Offer-In-Compromise with the IRS, one question you have to ask is: How long do I have to pay the offer? This is our Morning Coffee Series, and we’re going to talk about that. How long can a…
Read MoreWhat is the best time to file an Offer-in-Compromise for my business? This is our Morning Coffee Series, and we’re going to talk about that. The answer is not quite what you think. When is the best time for my business to file an Offer-In-Compromise? Well, the best time is when…
Read MoreDo I Have to Close My Business to File an Offer-in-Compromise? Business owners thinking about filing an Offer-in-Compromise often want to know if they have to close their business in order to file their offer. This is our Morning Coffee Series, and we’re going to cover that question today. Do I have…
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