Arizona

IRS Debt Blog

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By Michael S. Anderson of Anderson Tax Law logo for Arizona tax attorney Michael S. Anderson P.C.
  • 17 situations when the IRS won’t collect

    Tax Debt left unattended will result in IRS collection activity…levies, liens and property seizures. IRS collection activity just doesn’t stop on it’s own. It will happen after the tax debt has been: a.  Assessed  (entered into the books as a debt) b.  You have been sent a notice of the debt and demand for…

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  • 5 Common Methods To Deal With IRS Debt

    If faced with large tax debt, you may feel hopeless.  But… if you are willing to create a “strategy” and combine it with some hard work and patience, there may be a real solution. The following are the most 5 common methods people use to deal with tax debt.   1. Use the IRS Statute of…

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  • Chapter 13 Bankruptcy – The Basics

    Chapter 13 Bankruptcy – The Basics A chapter 13 bankruptcy is commonly referred to as a wage earner  bankruptcy. In Arizona less than 25% of all consumer bankruptcy cases filed are originally filed as chapter 13 bankruptcy cases. Chapter 7 bankruptcy and Chapter 13 bankruptcy filers have the same goal, the legal discharge of…

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  • May Be Filing a Bankruptcy Case in Arizona? 10 Important Facts you should be Aware of

    May Be Filing a Bankruptcy Case in Arizona? 10 Important Facts you should be Aware of 1. BANKRUPTCY STOPS DEBT COLLECTION Debt collectors, Law Firms, the IRS are all barred from trying to contact you and to collect the debt at the moment you file your Bankruptcy Petition. When the debt is discharged that safety…

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  • Considering an IRS Offer in Compromise? 12 Things You Need to Know

    Considering an IRS Offer in Compromise? 12 Things You Need to Know 1. Tax Returns must be filed All required tax returns must be filed. If a return is missing the IRS won’t discuss settlement. 2. The amount of the settlement isn’t about the amount of the debt The IRS looks at income, budget and…

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  • Filing For Bankruptcy? 33 Dates You Should Be Aware Of

    Filing For Bankruptcy? 33 Dates You Should Be Aware Of   1. 10 YEARS BEFORE FILING BANKRUPTCY – NON-EXEMPT PROPERTY CONVERTED TO EXEMPT PROPERTY If you owned property within the last 10 years and it was “non-exempt” property, i.e. property not protected from creditors or from the Bankruptcy Court, AND you contributed the property to…

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  • Unfiled Tax Returns Arizona? 9 Issues to Be Aware Of

    Unfiled Tax Returns? 9 Issues to Be Aware Of Millions of Americans fail to file tax returns each year for various reasons. The most common reason we see is simply procrastination combined with a dash of fear. Every late tax return filer worries about what the consequences might be. Some think about it every day of…

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  • IRS DEBT? Don’t give the IRS more time to collect it by stopping the Statute of Limitations

    IRS DEBT? Don’t give the IRS more time to collect it by stopping the Statute of Limitations The IRS Offer in Compromise isn’t the only way to reduce IRS debt. If you read our website and blog, you will find that it may not even be the best way. Unfortunately, many Americans think that is…

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  • Innocent/Injured Spouse

    Innocent/Injured Spouse The Innocent Spouse When married couples file joint tax returns, they are then jointly responsible for paying any resulting bill, even if they divorce and the divorce court orders only one of the parties to pay the tax. No, the IRS doesn’t really care, what the decree states. If that party does not…

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  • IRS Penalty Abatement

    IRS Penalty Abatement The IRS has an extensive list of penalties they can assess against you. Over 140 potential penalties are on the books. Congress has created these penalties to encourage  compliance and fast payment. These tax penalties are considered by some a national burden that actually impedes tax collection as they often cause…

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