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.
  • 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…

  • The Offer in Compromise isn’t over when it’s over

    The IRS Offer in Compromise isn’t over when you get the letter approving settlement with the IRS.  Don’t get me wrong, the Offer in Compromise (OIC) can be a great solution for some people with IRS debt. But unlike a chapter 7 or chapter 13 bankruptcy case, an offer in compromise isn’t over when you…

  • IRS Form 433 Matters – There are hidden dangers

    IRS form 433 is the primary piece of equipment that the IRS collection unit and IRS revenue officers use to get your information. If you are an individual that owes almost any type of tax and you don’t qualify for a streamlined agreement, you will probably have to supply the 433a or at least the…

  • No the IRS Fresh Start Program Doesn’t Include Penalty Abatement – Sorry

    Almost every person who contacts me asks about getting rid of IRS penalties.  There are two reasons I think this happens: 1.  Many Americans believe in paying debt and see tax as a debt.  But they regard penalties as just unwarranted punishment. 2.  Many people have been falsely led to believe the IRS’s Fresh Start Program…

  • What is the IRS Fresh Start Program?

    The IRS Fresh Start program was created a few years ago.  It’s claim at the time was that “struggling” taxpayers needed some help so it changed some of the ways it did business with taxpayers.  The changes were done in three areas.  IRS Liens, IRS Installment Agreements and IRS Offers in Compromise. It is debatable whether…

  • How many years will my IRS currently non collectible status stay in place?

    When you are in an IRS currently not collectible status (CNC status) you are protected from IRS collection enforcement.  The IRS can’t levy or garnish and other than possibly filing a notice of tax lien, it leaves you alone. This sounds great,  but in order to be placed in this status you have to convince…

  • Should I use an Offer in Compromise to deal with my IRS Debt?

    Should I use an Offer in Compromise to deal with my IRS Debt? Unfortunately, misleading tax resolution advertising has resulted in a the widespread belief that an IRS Offer in Compromise is really just a matter of filling in some blanks on a form and mailing it in.  In reality, there are a several issues 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…

  • Another Successful Offer in Compromise – $143,000.00 reduced to $22,913.00

    We received confirmation of another successful offer in compromise today.  Our client owed the IRS approximately $143,000.00 in income tax debt and was facing several years of installment payments before the IRS collection statute ran out.  He wasn’t a candidate for bankruptcy as the IRS had filed the returns in question before he was able…

  • Recent Case Update – Reduction of IRS debt from $460,000.00 to $30,000.00

    We have helped hundreds of clients get rid of millions of dollars in IRS debt since 1996 and we don’t discuss it much.  We don’t discuss primarily because our clients like to keep their dealings with the IRS private and we are duty bound to honor that…Attorney-Client stuff. We also don’t talk about our results…