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By Michael S. Anderson of Anderson Tax Law logo for Arizona tax attorney Michael S. Anderson P.C.
  • Income Producing Assets in an IRS Offer in Compromise

    If you own a business and that business has value, many people would assume that it should be included as an asset in calculating the amount of settlement.  As a result, many offers are calculated much higher than they should be. Income producing assets in an IRS Offer in Compromise shouldn’t always be fully included…

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  • Why did the IRS terminate my installment plan?

    Just because you are in an IRS Installment Plan with the IRS doesn’t mean that your work is done.  One of the common questions I get is “why did the IRS terminate my installment plan?”. The following are the most common reasons why this happens. Your Income Changed When you file a tax return the…

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  • Self Employed? Pay your estimated taxes monthly

    The Robert Burns poem To a Mouse, written in 1786, is an apology.  The story has it that Mr. Burns upended a mouse’s home while plowing a field and felt bad about it.  To make amends, he wrote a poem, the most famous portion of which reads: But little Mouse, you are not alone, In proving…

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  • Chapter 13 Bankruptcy and IRS Debt – Giving the IRS a Haircut

    THE PROBLEM(S) 1.   IRS Offers in Compromise Don’t Work for Most People Most people with serious tax debt just can’t make an IRS Offer in Compromise work.  Success is based on a formula and that formula is based on a number of facts about the taxpayer’s income, budget, assets in the past, the present and…

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