Posts Tagged ‘tax definitions’

Tax Problem FAQ: What is an Offer in Compromise?

Wednesday, January 2nd, 2008

The IRS Offer in Compromise program provides taxpayers that owe the IRS more than they could ever afford to pay, the opportunity to pay a small amount as a full and final settlement.

This program also allows taxpayers that do not agree that they owe the tax or feel that the tax has been incorrectly calculated, a chance to file an Offer in Compromise and have their tax liabilities
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Tax Problem FAQ: What is an IRS Installment Agreement?

Saturday, December 29th, 2007

INSTALLMENT AGREEMENTS AND IRS PAYMENT PLANS
The IRS will always accept some type of payment arrangement for past due taxes. In order to qualify for a payment plan with the IRS you must meet the following rules and provide the IRS with this information:
You must have filed all tax returns (It’s OK to owe money but you must file).
You will need to disclose all assets owned including all
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