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IRS issues new rules for Offers in Compromise (OIC)

Dramatic Reduction in amount required to settle an IRS Offer in Compromise (OIC)! In a dramatic change in policy the Internal Revenue Service has issued new rules for acceptance of Offers in Compromise. In the past the IRS has required … Continue reading

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What is an “Offer in Compromise” and do I qualify?

Simply put, an Offer in Compromise is a deal between the IRS and a taxpayer or a business to settle all of their tax liability for a certain sum, to be paid in a certain way.  But, Offers in Compromise can … Continue reading

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Things to Do Before Considering Bankruptcy

Bankruptcy is at an all-time high in America. Many people have filed for bankruptcy because they feel they don’t have any other options. If you are considering bankruptcy, look at these items and see if you have done them first. … Continue reading

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Who Can I Trust With My IRS Tax Problems?

In watching the news, we have seen that Ronnie Deutsch had been charged criminally, Tax Masters Has filed Bankruptcy and other firms that promise IRS Offer in Compromise settlements for “Pennies on the Dollar” have been investigated by Regulatory Agencies. … Continue reading

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Trust Fund Recovery Penalty

Trust Fund Recovery Penalty Employers have a responsibility to withhold income from their employees’ earnings and deposit those withholdings and employment tax with the Internal Revenue Service.  These taxes are called trust fund taxes because you actually hold the employee’s … Continue reading

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“Can I settle my taxes for Pennies on the Dollar?”

As a Tax Attorney, this is one of the most common questions I hear.  The next most common question is “if I pay just the tax can I avoid the penalties and interest?” Generally speaking, the IRS will not settle … Continue reading

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What You Should Know Regarding Retaining An IRS Tax Attorney?

The IRS announced in 2011 that it would ease rules on tax liens, so as to ease some of the financial burden of taxpayers. This may make the IRS sound kinder and gentler, but taxpayers should not forget that the … Continue reading

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What Does It Mean To File An Offer In Compromise?

OIC is a simple acronym that stands for “offer in compromise”. An offer in compromise refers to a type of agreement between the IRS and a taxpayer. When this type of settlement is agreed upon, the taxpayer pays less taxes … Continue reading

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Tax Help for Small Businesses

Almost everyone needs help with taxes at some point or another. Often obtaining tax help is a yearly event. Those involved with paying a self-employment tax, business owners or business partners can benefit greatly by having some help with taxes. … Continue reading

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Tax Penalties Increase Liability Dramatically!

Thinking about not filing your tax return because you don’t have the money to pay the tax liability? Don’t do that! The penalties for not filing are 5% per month for 5 months all by themselves. That constitutes a 25% … Continue reading

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