On January 5, 2012, in Notice 2012-8, the IRS significantly modified the rules for spouses seeking Innocent Spouse Relief under Internal Revenue Code Section 6015(f), which is also known as “Equitable Relief.” Notice 2012-8 is effective immediately and supersedes the old rules in Revenue Procedure 2003-61. The IRS will evaluate all new and pending Section [...]
This is the second post in the Collection Options series. This series is dedicated to presenting individuals and businesses with options for dealing with outstanding tax obligations. The Taxpayer Advocate. The Taxpayer Advocate Service is an IRS program that provides an independent system to assure that tax problems, which have not been resolved through normal [...]
A Notice of Federal Tax Lien (NFTL) can cause irreversible harm to an individual or a business. The NFTL is usually filed with the County recorder and/or the Secretary of State at exactly the wrong time, that being when the individual or business has the greatest need for good credit. The NFTL will damage a [...]
Having an outstanding obligation with the Internal Revenue Service (IRS) and being unable to propose an acceptable resolution to satisfy that obligation is an intimidating scenario for any taxpayer. The IRS will entertain a variety of solutions to resolve an obligation, including Offers in Compromise and Installment Agreements, but, sometimes, the taxpayer simply cannot afford [...]