As most people who owe the IRS know, the IRS interest rates are extremely high – or at least they feel like it every month when they look at the statement the IRS sends them showing how much they still owe. But, there is some relief in site. IRS interest rates are set out on [...]
Archive | January, 2009
Having the IRS Release Tax Lien
QUESTION: I owe the IRS a substantial amount of money, but I do not have any money left over at the end of the month after I pay my bills to be able to afford to pay anything on my taxes. I could refinance my house since the rates are a lot lower now and [...]
Impact of Owing More Taxes on Installment Agreement
QUESTION: I filed an extension of time to file my 2007 income taxes but I did not pay anything by April 15, 2007. I expect that I will owe more money when I do file the return. I am currently on a payment plan with the IRS for prior year tax liabilities. What will happen [...]
The Impact of Medical Bills on Your Offer in Compromise
Question: I have a lot of medical bills that I have to pay each month because of a surgery I had several years ago. Will those medical bills help my offer in compromise? Answer: Yes. Medical bills are one expense that the IRS will allow 100% of what you can prove you actually pay. I [...]
Using Your Deed to Pay an Offer in Compromise
Question: Can I use the deed to a house we own free and clear to make an offer in compromise to the IRS for back taxes? Answer: The short answer is no. Basically, in determining whether you qualify for an offer in compromise, the IRS will examine you entire financial “self.” You can kind of [...]
What Documents are Needed for an Offer in Compromise?
One of the hardest parts in filing an offer in compromise for many people is the process of getting all of the documents together. The IRS requires that you submit copies of many documents. Including: pay stubs, three months of bank statements, medical bills, three months of utility bills, etc. Many people do not keep [...]
What is an Offer in Compromise
So, you’re here, but you aren’t sure what an offer in compromise is. You got on Google and started typing in all of the things you could think of to try to figure out what you can do to get the IRS off of your back. You have seen the late night television commercials where [...]
Welcome to IRSCompromiseHelp.com
Welcome to IRSCompromiseHelp.com! This site is your one-stop resource for all of the information you need to know about filing your own offer in compromise with the IRS and resolving your tax problems for good. Check out the blog on this site for tips, answers to your questions, offer in compromise updates and more.
