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By Michael S. Anderson of Anderson Tax Law logo for Arizona tax attorney Michael S. Anderson P.C.
  • Tax Debt, Credit Card Debt and Bankruptcy

    Tax Debt Credit Card Debt and Bankruptcy  Many of our clients have both serious tax debt and other debt at the same time.  These other debts may be student loans, state taxes, credit cards, medical bills, business debt or some combination. If you read this blog you know that the IRS tries to use it’s…

  • 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…

  • Tax Debt as a result of IRS Audit? Do I have options?

    The result of an IRS audit is often a balance due.  We are often asked several questions at the end of an Audit as a result.  Questions like: Will the IRS accept an amount less than what I owe and forgive the balance? Will the IRS agree to a payment plan? Will the IRS place…

  • 5 reasons not to file a perfectly good IRS Offer in Compromise

    The IRS Offer in Compromise program, the one you hear about on radio and TV…really exists. It actually works too. Many taxpayers settle tax debts both large and small with the IRS every year. But…it isn’t for everyone. In fact, most Offers in Compromise filed with the IRS are rejected for a number of reasons. You can read more about that here.

    Just as important…many who qualify for an Offer in Compromise choose not to file one. Strange but it happens all the time. Here are the 5 most common reasons it does.

  • Is bankruptcy the only way to eliminate tax debt?

    Bankruptcy can be a powerful tool in dealing with serious tax debt.  It can wipe away certain types of tax debt based on income, employment, transaction privilege, penalty and interest and we use it to help clients get rid of millions in tax debt. BUT…it isn’t the only way to get rid of tax debt…

  • Does the IRS have to leave me with a “livable wage” if it garnishes my paycheck?

    No, the IRS doesn’t have to leave you a livable wage. The IRS must only follow a table that determines how much money it must leave for you to live on each month.  See IRS Publication 1494. The amount that it must leave is small, and there are just 4 factors that play into the…

  • BIG MYTH – Tax Debt Can’t Be Discharged in Bankruptcy

    After many years helping people deal with tax debt and the IRS, and with all the information on the Internet about solving tax debt problems, I am still surprised when someone tells me that tax debt can’t be wiped out in bankruptcy.  But it happens all the time. The truth is that tax debt can…

  • IRS Tax Lien? – Short answers to the most common questions

    When you settle a tax debt, pay it off or discharge it in Bankruptcy, when does the IRS Release the underlying tax lien? If the debt has been settled, paid, or discharged, Internal Revenue Code 6325 tells the IRS to release the lien within 30 days. If it doesn’t you can contact the IRS Lien Desk…

  • I have a Serious IRS Tax Debt and I have been out of the Country for a few years, how will being out of the Country affect my Tax Debt?

    The IRS’ ability to collect a Tax Debt ends 10 years after the IRS assesses the Tax.  This also applies to IRS Liens. This 10 year period starts running on the date the IRS assesses the Tax or writes in down in it’s books as a debt owed by you.  The 10 year period doesn’t…

  • I have a Serious Tax Debt, I don’t know who to talk to about finding a way to resolve it. Who should I call?

    If you had a serious illness like some form of Cancer, who would you want to consult with first? Your Cousin Fred A Nurse A Family Doctor A Doctor who specializes in Treating Your type of Cancer You would want to speak with the Specialist right?  Why?  A Specialist has been trained for years to…