IRS Partial Pay Installment Agreement–a powerful, and under-utilized tool

Yes, the IRS does have the ability to accept less than a full amount required to pay off a tax liability.  This is known as a Partial-Pay Installment Agreement (PPIA).  In other words, you pay what you can afford (after providing the IRS with a full picture of your monthly income, family size, and monthly expenses). Comparing a PPIA to … Read More

How to file IRS Returns if You’ve Lost Your Paperwork

You want to do the right thing and file the IRS returns for the past few years.   But you’re frozen with indecision because you’ve lost W-2 forms and 1099s. Failure to File IRS Returns is a Problem (and a crime) Yes, the failure to file tax returns is a Federal crime, but if you do it the right way, … Read More

Can IRS Tax Debts Disappear?

As a taxpayer, you may not be aware that the Internal Revenue Service (IRS) only has 10 years to collect a tax debt. In other words, there is a statute of limitations for tax debt and it is called the Collection Statute Expiration Date (CSED). If you this is the first time you have heard of CSED, you might conclude … Read More

Making Estimated Tax Payments-a Key to Fixing your IRS Problems

When it comes to making tax payments, employees have it easy. Their employers are obliged to withhold Social Security, Medicare and unemployment taxes from their earnings every pay period.  If you are self-employed or work as an independent contractor, the IRS requires you to calculate your estimated tax payments every quarter and remit the amount you owe. You also need … Read More

Resolving an IRS Complex Installment Agreement

When a taxpayer owes the IRS more than $50,000 and he wishes to enter into a payment plan, then it’s not such as easy matter. In fact, in most situations, the IRS will want him to submit all of his financial information (IRS Form 433-A), which will tell the IRS all about his income, expenses, other debts and assets. The … Read More

IRS Streamlined Installment Agreement

The IRS has a variety of payment plans, which it calls “Installment Agreements”.   For example, if someone owes less than $10,000, they can enter into a “guaranteed” installment agreement, which means that yes, the IRS will guarantee the taxpayer to repay the debt over a period of time. Another form of payment plan is called a “Streamlined Installment Agreement”, which … Read More

How to Stop an IRS Wage Garnishment

No one wants to deal IRS wage levy; all of your pay is taken and you could be living without a paycheck. All of the money you need to live your life on a day-to-day basis is taken out of your bank accounts. Another big problem is that your employer will be upset that you’ve got an IRS problem.   Yes, … Read More

Owe IRS Employment Taxes? What to Expect from the IRS

If you have read Payroll Taxes – What They Are and Who Pays Them and The Trust Fund Recovery Penalty and What It Means If Your Business Is Delinquent On Payroll Taxes on this website, then you realize that the IRS classifies delinquent payroll tax payments by employers as “employment tax evasion schemes.” Employment tax evasion schemes are a high … Read More

IRS Agent Visit? What to Expect

QUESTION:   Does the IRS really send its employees to visit people at their homes or businesses? ANSWER:  Yes. Whenever the IRS believes that a person or business has not paid all the taxes it owes, the IRS may send out a field agent called a “Revenue Officer” to talk to the taxpayer in person. ROs typically work “high dollar” cases. … Read More

IRS Payroll Taxes: A Primer

Payroll taxes are taxes paid on the wages and salaries of employees. They include federal, state and local income taxes, Social Security and Medicare taxes, and unemployment taxes.  Improper processing of payroll taxes is one of the most common triggers for an IRS audit of a small business and its owners. Payroll taxes include taxes paid by employees and by … Read More