Posts Tagged ‘IRS settlements’

Two-Thirds of Companies Suspected of Tax Evasion Agree to IRS Settlements

Saturday, November 1st, 2008

A majority of companies suspected of participating in LILO and SILO transactions agree to make nice with Uncle Sam.
By Michael Rozbruch
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The Internal Revenue Service’s aggressive tax compliance and enforcement initiatives continue.
The U.S. tax-collecting agency announced it has received settlement agreements from more than two-thirds of American corporations suspected of participating in arrangements that pushed away income tax obligations for many years.
These arrangements, known Lease-In/Lease-Out (LILO) and Sale-in/Sale-Out (SILO) transactions, are
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Posted in IRS Times and Inquirer | No Comments »

What Tax Burdened Americans Need to Know - IRS Offer In Compromise Program is a Privilege, not a Right

Tuesday, September 30th, 2008

I was thinking the other day about how the tax relief industry has really grown and changed in the past 5 years. With a dramatic increase in IRS enforcement, so many companies have entered the scene to offer help to the millions of taxpayers in trouble with the IRS. With claims that that they can help settle your tax debt for a fraction of what you owe, many of these
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Posted in Offers in Compromise, Tax news and tips, Working with the IRS | 2 Comments »

IRS Question Corner: Offer in Compromise

Sunday, May 11th, 2008

Question: According to the news media, the Internal Revenue Service has been becoming more aggressive with taxpayers. So how does the Offer in Compromise fit in if the IRS is so aggressive these days?
Answer: It’s hard to understand, isn’t it? At the same time the IRS has become more aggressive with tax cheats and debtors, the tax-collecting agency also has a program like the Offer in Compromise, which seemingly
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Posted in IRS Question Corner, IRS Times and Inquirer, Offers in Compromise | 1 Comment »