The Offer In Compromise, or OIC, program with the IRS is a great option for many people and 
like many good things in life, it takes patience to earn.
Mr. Lothamer likes to describe the OIC as a “Mother may I” situation with the IRS. You are asking the IRS to settle your tax balance for less than what you owe, and they may accept that Offer if you qualify. Continue reading
IRS Form 433-B, or Collection Information Statement for Business is used when a business owes federal taxes and cannot pay them in full. A person who owns his own business and owes taxes personally is required to fill out Form 433-B as well. Businesses including partnerships, corporations, and a limited liability company classified as a corporation can file the Form 433-B. This form provides information to the IRS in regards to the ability of the business to pay its federal tax liability. Continue reading
Federal income tax refunds totaling $1 billion may be waiting for an estimated one million taxpayers who did not file a federal income tax return for 2011. To collect the money, these taxpayers must file a 2011 tax return with the IRS no later than Wednesday, April 15, 2015. Continue reading
Tax scams take many different forms. Recently, the most common scams are phone calls and emails from thieves who pretend to be from the IRS. They use the IRS name, logo or a fake website to try to steal your money. They may try to steal your identity too. Here are several tips from the IRS to help you avoid being a victim of these tax scams: Continue reading
The IRS Fresh Start Program was designed to help taxpayers with delinquent tax liabilities to both pay back their taxes, and avoid any liens being filed against them. The Fresh Start Program made changes to Installment Agreements, Offers in Compromise (OIC), and tax lien filings. Continue reading
An Offer in Compromise is an option offered by the IRS for resolving outstanding tax liabilities. Through an Offer in Compromise, an eligible taxpayer can resolve their outstanding tax liabilities for an amount less than the amount of their total liability.
Although you may hear many advertisements regarding “Saving Pennies on the Dollar” and promises of all your tax debts being written off, the actual process of preparing and receiving an accepted offer from the IRS is actually a much more complicated process. Continue reading
The question of should someone seek professional help is one that is constantly asked in society today. Usually this deals with a debilitating condition such as alcoholism, depression, and other mental health issues. However, knowing exactly when and where to seek professional help is sometimes overwhelming itself.
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If you’re financially unable to pay your tax debt immediately, you can make monthly payments through an installment agreement. As long as you pay your tax debt in full, you can reduce or eliminate your payment of penalties or interest, and avoid the fee associated with setting up the agreement. The IRS has four different types of installment agreements: guaranteed, streamlined, partial payment, and non-streamlined.
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What is it used for?The Internal Revenue Service (IRS) Form 433-B Collection Information Statement for Businesses is used when a business owes federal taxes and cannot pay them in full.
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emails from thieves who pretend to be from the IRS. They use the IRS name, logo or a fake website to try to steal your money. They may try to steal your identity too. Here are several tips from the IRS to help you avoid being a victim of these tax scams: 
Through an Offer in Compromise, an eligible taxpayer can resolve their outstanding tax liabilities for an amount less than the amount of their total liability.
society today. Usually this deals with a debilitating condition such as alcoholism, depression, and other mental health issues. However, knowing exactly when and where to seek professional help is sometimes overwhelming itself.
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