Going through a divorce can muddy the waters when it comes to whose responsibility the IRS tax liability becomes. In a divorce case, the Court could order that one party of the other is solely responsible for the tax liability. However, because a family court is a state court it does not have authority to [...]
Archive | September, 2009
Do I have to provide Bank Statements to the IRS
When you are filing an offer in compromise with the IRS you have to give the IRS a lot of financial information and proof. They want to see the last three months of bank statements, pay stubs, utility bills, investment account statements, medical bills and more. You can almost picture the offer in compromise program [...]
How Much Do I Owe the IRS
Many times people don’t have a clue how much they owe the IRS. In fact, they believe it is so much that if they even call to inquire the IRS is just going to carry them off to debtor’s prison. And you can forget going to the local IRS office in person to see how [...]
I’ve Submitted my Offer in Compromise – When Will I Hear Back
Well, that’s great news that you have submitted your offer in compromise to the IRS. Assuming you submitted it property – that is with all of the correct forms, with the correctly written out checks, you have signed all of the documents, etc. – then you will usually receive a letter from the IRS within [...]
Steps to Filing an Offer in Compromise: Step 1 – Filing Back Tax Returns
So you owe the IRS a ton of money. You don’t have that much money to pay them. So what do you do? The answer is, you file an offer in compromise to settle the debt in full. An offer in compromise is an agreement between you and the IRS where the IRS agrees to [...]
