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 IRS has a duty to enforce tax payments. A taxpayer having a hard time paying the tases might improve their chances of settling the debt if they first contact an IRS tax attorney.
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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 than he or she originally owed. If the IRS believes the entire amount of taxes owed can be paid in full by the taxpayer, an offer in compromise deal will not be considered. The IRS also A taxpayer to pay the most they can reasonably pay, before accepting an offer.
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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. Taxpayers with odd tax deductions can also benefit from the help of a competent accountant or tax attorney.
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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% penalty for simply not filing the return.

IRS penalties constitute a large portion of past due tax liabilities. They, together with interest, can soon equal or exceed the amount of the tax liability.
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WHY ARE SO MANY OFFERS IN COMPROMISE REJECTED?

Recent statistics show that only about 20% of Offers in Compromise that are submitted are accepted. The rest are rejected. Why are so many OIC’s rejected? I believe that there are several reasons for the high rate of rejection.
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