When Can Injured Spouse Relief Affect a Joint Refund Offset?
When a Chicago couple’s joint refund is reduced or redirected, the reason may be an IRS tax balance or a different debt handled through an offset program. Learn how to distinguish an offset from a refund delay and when an injured spouse allocation may be relevant.
Settle IRS Business Tax Debt Before a Bank Levy
Settle IRS Business Taxes Before a Bank Levy Your restaurant is full. Your trucks are delivering freight. Your construction crews have projects to finish. Business is moving and money is coming in. All perfect, right? BUT… Then the IRS levies your business bank account or the credit card payments your processor owes you. Suddenly, the…
Can Low-Income Naperville Filers Get an IRS Fee Waiver?
Low-income certification may let some taxpayers submit an IRS Offer in Compromise without the application fee or initial payment. Naperville filers should understand how the certification works—and why it does not determine whether the IRS accepts an offer.
Can a Naperville Audit Support a Doubt-as-Liability Offer?
A doubt-as-to-liability offer may be an option when you genuinely dispute whether an IRS audit assessment is correct. Learn how it differs from an offer based on inability to pay and what records may help support the dispute.
IRS Fresh Start After Divorce: Retirement & Tax Debt
IRS Fresh Start After Divorce: Do You Have to Cash Out Your Retirement or Settlement? You made it through the divorce. The property was divided, the paperwork was signed, and you finally know what you have left. But what happens when an old IRS tax bill follows you into your new life? IRS Fresh Start…
Which IRS Tax Option Fits Chicago: OIC, Plan, or CNC?
An Offer in Compromise, an installment agreement, and Currently Not Collectible status address IRS tax debt in different ways. Learn how their payment structures, documentation, and tradeoffs may shape the questions to raise about your situation in Chicago.
IRS Audits: Ask Your CPA for a Tax Lawyer
A CPA can provide valuable accounting support during an IRS audit, but that does not mean every communication receives the same protection as a confidential conversation with an attorney. If questions begin focusing on intent, possible fraud, or potentially criminal conduct, taxpayers should consider getting IRS audit help from a tax lawyer before providing sensitive…
Illinois Tax Audits: How Your Documents Get You Into More Trouble
Documents can create new problems during Illinois tax audits when they contain unexplained deposits, missing receipts, conflicting figures, or transactions that do not match filed returns. Careful document preparation means reviewing requested records for accuracy, relevance, and consistency before submitting them rather than automatically providing every available file. Could one overlooked discrepancy give an auditor…
What Are the Odds of Getting Audited by the IRS?
For most taxpayers, the odds of getting audited by the IRS are relatively low. However, the risk varies based on factors such as income, return complexity, reporting discrepancies, and certain deductions or business activities. Accurate reporting and thorough documentation can also make an examination easier to address if one occurs. How likely is an IRS…
Who Gets Audited by the IRS? Key Insights and Tips
Who gets audited by the IRS? Any taxpayer can face an audit, but certain returns receive greater scrutiny. High incomes, unreported earnings, mismatched tax documents, unusually large deductions, and complex business activity can contribute to a higher chance of examination. How extensive is IRS audit activity? The IRS closed 497,621 tax return audits during fiscal…