New IRS Test Criteria for Streamlined Installment Agreements: Liabilities Up to $100,000 Eligible for Streamlined Installment Agreement The IRS recently extended its test program for streamlined installment agreements to allow individual taxpayers with up to $100,000 in assessed tax, penalties, and interest to apply for streamlined installment agreements. This article addresses some of the benefits [...]
Defaulted Installment Agreements The IRS expects taxpayers to pay all of their tax liabilities in full, at the latest, at the time the liabilities are due. When this is not possible, the IRS may allow taxpayers to pay their liabilities during a period of time through a monthly payment plan. These payment plans are called [...]
Tom recently presented a seminar to Minnesota attorneys in which he shared some common questions asked by clients dealing with tax controversies and explained how to help them. The questions Tom discussed include: Can I challenge the Internal Revenue Service’s (IRS) decision to pursue me for unpaid taxes? Can I get the IRS or the [...]
We often receive telephone calls and e-mails from individuals and businesses who have been contacted by the IRS for a tax obligation owing and they don’t know what to do. There are many options for dealing with these obligations. The correct option depends on the facts of the case. Unfortunately, too often, an individual or [...]
A key factor for most taxpayers negotiating a payment plan or a compromise with either the Internal Revenue Service (IRS) or Minnesota Department of Revenue (MDR) is calculating their ability to make monthly payments. The taxpayer may want to use his or her current income while the IRS or the MDR may insist on using [...]