Linda Beale reports that the IRS is making the Offer in Compromise process easier for taxpayers: The IRS has announced more flexible offer in compromise terms, in an effort to make it easier for financially distressed taxpayers to get a “fresh start” by erasing their tax liabilities, and may also result in less time taken [...]
Tags: IRS procedure · Offers in Compromise
Joe Kristan reports that J.K. Harris, the most egregious of the many penny-on-the-dollar tax resolution companies, is about to file for bankruptcy protection to forestall a government seizure of it’s business: One of the late-night tax settlement outfits has found a way to make good on its “pennies on the dollars” pitch. The Charleston Post [...]
Tags: News · Offers in Compromise · Tax Collections
Offers in Compromise (IRS settlements) are very difficult to get, but the IRS does grant them. I put together this short questionnaire for taxpayers to use to determine whether or not they qualify for an IRS settlement. Form 656 is the Offer in Compromise form. On it’s face the form seems simple enough, but if you read [...]
Tags: Offers in Compromise
Russ Fox has the latest on Tax Lady Roni Deutch’s brush up with Lady Justice: “Tax Lady” Roni Deutch appeared in court on Friday; she pleaded not guilty to contempt of court charges in Sacramento. She’s accused of violating court orders by shredding 2.7 million documents in violation of a court order. Meanwhile, the company she [...]
Tags: News · Offers in Compromise · Tax Crimes
If you’re an insomniac you may recognize Roni Deutch from her ubiquitous late night infomercials promising taxpayers pennies on the dollar settlements with the IRS: Joe Kristan writes about yet another lawsuit against Deutch: California’s Aspiring GovernorAttorney General Jerry Brown has sued Attorney Roni Deutch, who blogs as the “Tax Lady,” for “swindling” taxpayers who hire her to get [...]
Tags: News · Offers in Compromise · Regulation of Tax Preparers
Kate Smith of Kiplinger.com writes in Pennies on the Dollar Tax Relief Offers Should Be Scrutinized: Tax troubles keeping you up at night? Then you’ve no doubt seen your fair share of late-night TV pitches to settle your tax debts for less than you owe. Such “pennies on the dollar” come-ons, regardless of the source, [...]
Tags: Offers in Compromise
About a year ago we questioned the sincerity of the IRS’s Offer in Compromise program in a post titled Is IRS Offer in Compromise Program a Sham? We said then that it was our experience and the experience of other tax professionals that the program as currently operated was someone of a bait and switch: The IRS entices taxpayers to [...]
Tags: Announcements · Offers in Compromise
