Many Americans file their taxes knowing they can't pay the IRS in full. Perhaps these individuals are self-employed and couldn't save up enough throughout the year, or are employed but couldn't afford to maximize their paycheck withholdings. Whatever the case, many individuals … [Read more...]
Offer in Compromise Basics: What Is Doubt As To Collectibility?
There are three grounds for an offer in compromise: (1) doubt as to liability, (2) doubt as to collectibility, and (3) to promote effective tax administration. The vast majority of offers in compromise are submitted on the basis of doubt as to collectibility. Doubt as to … [Read more...]
How Much Can The IRS Garnish From My Paycheck?
Wage garnishment is a frequently used collection strategy by the IRS, but it's rarely understood by taxpayers with federal tax debt. When the IRS levies a taxpayer's wages they send notice to the employer (Form 668-W) to withhold and remit the non-exempt amount of wages to the … [Read more...]
How To Have A Federal Tax Lien Withdrawn
Imagine this hypothetical scenario. You find out that a part of your room is being attacked by termites, so you decide to buy pest control because only a small area is damaged. A few weeks later, you find out that the built-in wooden cabinet connected to the next room has also … [Read more...]
So, You Don’t Want To Pay The IRS?
Christine* has been living with her grandparents since she was born. When she started working, she got into trouble with the Internal Revenue Service after receiving an audit report that says she owes the federal government a total of $85,000. Unable to pay the liabilities, … [Read more...]
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