When the COVID-19 pandemic hit the United States in full swing early this year, the government reacted with legislation and policy to ease the impact on the American public. This included an extension of tax filing and payment obligations until July 15, 2020. It also allowed taxpayers that were in installment agreement payment plans withContinue reading “July 15, 2020 – Time to Pay Again”
Category Archives: Collections
The IRS July 15 deadline is almost Here. Here is what it means for the IRS.
As the COVID-19 pandemic hit the United States, the Internal Revenue Service was one of the many government organizations that was hit with widespread office closures. This impacted their operations and the ability of taxpayers to address any tax issues they have had. In recognition of the issues, the United States Treasury even extended theContinue reading “The IRS July 15 deadline is almost Here. Here is what it means for the IRS.”
Settling Tax Liabilities for Less than the Full Amount (the Offer In Compromise).
The Internal Revenue Code provides that a tax liability can be resolved for less than the full amount of the total debt. Sometimes, the tax debt can be resolved for a fraction of the total. This procedure is known as an Offer in Compromise. In the right circumstances, an Offer in Compromise can be usedContinue reading “Settling Tax Liabilities for Less than the Full Amount (the Offer In Compromise).”
Taxing Thoughts 