Tax attorney Robert Schaller is frequently asked the question: “What is the difference between the Tax Code and Treasury regulations in the offer in compromise context?” The Key to understanding tax solutions to IRS back taxes is an understanding of the interplay between United States Tax Code and United States Treasury regulations. Each is examined […]
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The IRS is set to mail the IRS Collection CP14 Notice to millions of taxpayers this June who are suffering from unpaid IRS back taxes. Put simply, an IRS NP14 Notice is sent by the IRS when the IRS believes the taxpayer owes unpaid taxes. What should I do after receiving an IRS CP14 Notice? […]
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IRS back taxes are collected by the IRS through a formal program known as the IRS Collection Process. The collection of IRS back taxes can be brutal and result in wage garnishments, bank levies, and IRS tax liens. Affirmative action by your tax attorney is best; Ignoring the IRS leads to disaster. How are IRS […]
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An Offer in Compromise is an agreement between a taxpayer and the IRS that settles a tax liability for payment of less than the full amount owed. IRM § 5.8.1.2.1 (09-23-2008); Adamowicz v. US, 08-888C, Pg. 5 (D.C. Ct. Fed. Cl. 11/21/2011). Together, 26 U.S.C. § 7122 (Offer in Compromise) and 26 U.S.C. § 7121 (closing agreements) […]
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