When applying for an offer in compromise, your starting place should be Form 433-A, Collection Information Statement for Wage Earners and Self-Employed Individuals. Before spending money hiring a tax ...

A recent tax court case (Strashny v. Commissioner of Internal Revenue) filed on June 11, 2020 shows how your cryptocurrency holdings could work against you in applying for an installment plan with the ...

In the last issue, I discussed qualifications for offers in compromise. Please note the following correction: I stated that when one is deemed uncollectible by the IRS, he will be “left alone for an ...

In the past two columns, I’ve been discussing offers in compromise, the IRS program that gives taxpayers a fresh start. This program is designed to show mercy to taxpayers who are up against economic ...

The Offer in Compromise (OIC) is a program by the IRS that allows individuals or businesses to settle their tax debt by paying less than the full amount owed. The IRS typically approves an OIC when ...

Question: I have built up multiple years of tax debt and have been living in fear of liens and garnishments. Are the television ads true? Is there a way I can make a deal for a lesser amount so I can ...

An offer in compromise is a program devised by the Internal Revenue Service to settle tax liabilities for less than what is owed. Usually it’s an individual taxpayer that seeks relief under this ...