Typically, when you hear someone mention the IRS Hardship Program, they're referring to Currently Not Collectible status. Is It Real? What Is It, Exactly? How Do I Get It?
There are 2 things that you can do, no matter your back-tax situation, that will give you a fighting chance with the IRS Collections group and state taxing authorities.
Have you received mail from the IRS? If it's certified, the IRS is advising you of an aggressive action. Either something they've already done or something their gonna do soon.
If you ask 5 tax resolution professionals, What is the most important step in resolving a back-tax liability with the IRS or state? You may get 5 different answers.
M&M Has the Answers! -Am I being taken advantage of? -Who can I trust with this? -What information and documents do I need to provide? Why? -When do I start making payments? How do I make them? -Do I qualify for any reductions?
One common debt we hear about is to credit cards. Unlike the IRS, a credit card company must be awarded a judgment by a court of law before they can take money from bank accounts or garnish wages. The IRS does not need a judgment to do this.
In January 2018 the IRS started to implement new procedures involving “seriously delinquent tax debt” and the taxpayer's passport. If this is you, your passport may be denied, revoked or limited.
What happens when you don't file a tax return? Do they hunt you down? Will they wait for you to make the first move? One tool the IRS has to flush out Non-Filers is the SFR.
Unfortunately not everyone qualifies for the Offer in Compromise. But, there are several ways to reduce the total amount of money you pay toward your IRS tax debt. Let's take a look.
Know Your Appeal Rights? If you've received s Final Notice of Intent to Levy from the IRS, it's time for decisive action. Notice 1058 is your last warning before the Service seizes your assets. Learn more.
As small business owners, we have a lot to keep track of. And with so much going on in our personal and professional lives, it's easy to let the two blend together. Some things must be kept separate, however, and money is at the top of the list.
Although it may seem like the Service makes its own rules, there are laws that protect taxpayers from the long arm of the IRS Collection Division. One law the IRS must adhere to is the ten-year collection statute.
Any payment to the IRS when you owe a back-tax liability is a great idea, right? Wrong! M&M can help you determine how to make payments toward your tax debt to benefit you the most. Contact us before sending your Voluntary Payment to the IRS.
Some tax resolution companies' sales hook is the Offer in Compromise. There's a different hook for business owners that owe payroll taxes to the IRS. It's called the "NewCo". Don't fall for it!
Beware of buzz words used by salesman such as Appeal and Stay of Collection. In many cases, Appeals will only cost you unnecessary fees and delay the resolution of your tax debt.
We recently compiled a list of the common mistakes our new clients make before they hire M&M. For so many of our clients, steering clear of a slip-up or two early on would have helped them avoid some sleepless nights and expensive penalties.