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Posts Tagged ‘tax debt resolution’

  • IRS Postpones Another Furlough Day

    Wednesday 14th of August 2013 9:48:48 AM


    The originally scheduled furlough day for August 30 has now been postponed, according to IRS officials.  The postponement is a direct result of the successful budget cuts that the IRS has implemented.

    There may be other furlough days, that will be decided after the IRS reviews their current budget situations before the end of the fiscal year on September 30.

    All IRS operations will in fact run as scheduled.  This includes both offices and toll free help lines.

    For more information on this matter and other IRS news please visit;-Will-Reevaluate-Need-for-Furlough-Day-in-September

  • IRS Releases a 3-Part Report to Fix Tax Exempt Applications

    Tuesday 25th of June 2013 11:13:52 AM


    In Washington on June 24, 2013-Danny Werfel, Internal Revenue Service Principal Deputy Commissioner, releases a 3-part report describing the actions to fix issues that were discovered throughout the IRS’ review of tax exempt applications.  The report also describes how the applications will be improved and how it will smooth the processes at the IRS.

    Werfel said “It is critical that the IRS takes steps to ensure accountability, address the problems uncovered in recent weeks and improve the operations of the IRS to continue to carry out our critical mission on behalf of the public,” and “We have made a number of changes already, more are in the works and even more will develop as we move forward.”

    To read the full story, please visit the IRS website.


  • Don’t Fall Prey to Tax Scams – IRS Tax Tips

    Monday 07th of November 2011 4:38:08 PM


    Annually, the IRS classify a list of common tax scams called the “dirty dozen.” The IRS attempts to educate taxpayers about the scams that can end up causing them great financial harm and future stress. The list will serve as their reminders for their taxpayers to be very careful in handling their own tax return. Be guided with an old saying – “If it seems too good to be true, it probably is.”

    » Read More

  • Offer in Compromise “OIC” Basics You Should Know

    Tuesday 01st of November 2011 5:39:00 PM


    Before we get start with this topic keep in mind there are 3 types of OIC’s. With that said an Offer in Compromise, OIC is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the total amount owed. Minus particular circumstances that the IRS accepts, an offer will not be accepted if the IRS feels the tax liability can be paid in full as a lump sum or through an IA, installment agreement.
    Typically the IRS will not accept an OIC unless the amount offered by the taxpayer is equal to or greater than the reasonable collection potential. The uses the RCP to measure the taxpayer’s ability to pay the back taxes. This will calculate specific values that may be realized from the taxpayer’s assets which include cars, real property, bank accounts (accounts the tax payer is linked to can be considered as well), equity in businesses as well as other property that have assessed values. Of course basic living expenses are factored in but anticipated future income is also considered.
    OICs – 3 Different Types Based on Specific Circumstances
    1. Doubt as to Collectibility
    2. Doubt as to Liability
    3. Effective Tax Administration

  • What Happens if you don’t file your Tax Returns?

    Monday 10th of October 2011 5:57:55 PM


    It is very important that you clearly understand the ramifications of not filing past due returns as well as the steps that the IRS will take against you. Taxpayers who fail to file a past due return or returns are subject to the following IRS actions:

    1. Hefty Penalties and Interest will be assessed and will dramatically increase the amount of tax due. Your tax debt essentially begins to grow daily.

    » Read More

  • Tax Toubles 101!

    Tuesday 02nd of August 2011 11:43:46 PM


    So, if you have a tax issue with the IRS, State or both you are not alone. In fact 1 in 10 people have a tax problem in the United States today. The most important thing I always tell my clients is to take a deep breath, there is a solution for all tax issues. Now, the solution will vary, there is not a cookie cutter solution for all. Many things need to be considered when dealing with a tax problem and here at 911 Tax Relief, we take the time to get the details before explaining your options.

    The main thing to remember if you find yourself in trouble with the IRS, State or both is to not freak out and start talking to a tax representation firm immediately. The absolute worst thing you can do is ignore the issue, this will only lead to aggressive collection actions.

    The first step in resolving a tax issue with the IRS / State is to understand what your options are and the possible consequences for not dealing with it. Too many times I have clients frantically calling me because they have procrastinated dealing with their tax issues and now they are suffering the consequences. Their bank account was just levied, they are getting garnished, a revenue officer showed up to their job etc. All of these issues are 100% avoidable if you do the responsible thing and deal with the problem. You might be surprised what you qualify for.

    You have the right to representation however, it is up to you to exercise your rights. Taxes are very complicated, confusing and technical, this is why it makes sense to consult a tax representation firm.