In the good ole days you could submit your offer in compromise to the IRS and it wouldn’t cost you anything except a filing fee. So, it didn’t matter how much you were offering to settle your tax debt with the IRS you knew that you were going to have several months before the IRS [...]
Archive | October, 2009
Length of Time IRS Debt can be Collected
There are several statues of limitations when it comes to how long the IRS has to collect tax debt from you. The first statute of limitations you have to worry about is the time the IRS has to go back and examine (or audit) your income tax return. The IRS has three years from when [...]
Worried About IRS Wage Levy after Setting up an Installment Agreement
QUESTION: I set up an installment agreement a couple of weeks ago to pay off my tax liability. I understand that it is going to take a while before my taxes are paid in full, but I thought once I set up the installment agreement, the IRS cannot come and try to levy my wages. [...]
3 Tips for Avoiding an IRS Wage Garnishment
When you owe the IRS money for past taxes, you are probably living in the fear that they are just a few steps behind you and sooner or later they are going to catch up to you and begin garnishing your wages at work. Then, your secret is out. Now everyone, at least it feels [...]
