INTERVIEWED BY KNBC NEWS CHANNEL 4

I was interviewed the other night by KNBC News, Los Angeles, where I mentioned a huge tax tip for the upcoming filing season:

Even, if you haven’t filed in years, or have just completed a draft of your 2007 income tax return and it shows that you owe, but don’t have the money, you should still file it by 4/15/08 and send in a check with for $10.00.  This accomplishes 2 very significant things in your favor:

1.  You avoid the huge 25% failure to file penalty, and
2.  It creates a computerized record of account at IRS showing that you sent in a $10.00 payment with your 2007 income tax rerturn (reflecting good faith and credibility on your part).

More Tax Help, IRS News and Tax Relief Tips:

  1. IRS Tax Relief: Seven Common Income Tax Relief Myths That Can Get You into IRS Trouble

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2 Responses to “INTERVIEWED BY KNBC NEWS CHANNEL 4”

  1. sabrina Says:

    i need to know the percent of people who are professions (i.e., lawyers, doctors) etc. that qualify and get an offer in compromise.

  2. Michael Rozbruch Says:

    I do not know the percentage of professionals (doctor’s, lawyers and accountants) that submit OIC’s that are accepted, but I do know that these professionals are generally held to a higher standard, by IRS, due to their education level and ability to earn income in the future than people who are not MDs, JDs or CPAs, unless the professional has a debilitating medical/mental condition that prevents them from practicing or have had their license revoked for various reasons.

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