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offers in compromise and installment plans Archives

Offer in Compromise rules have been compromised; act fast

Tax laws tend to be strict. They are complicated, wordy, shifting and hard to understand without the help of an experienced and trusted professional. There are aspects of tax laws, however, that exist in order to help those who might be facing financial difficulties and tax hurdles.

Will a private collector contact you over past due tax debt?

The federal income tax filing deadline is about six weeks away. While many are waiting for refund checks, there are a number of people who lament the reality that they will have to owe taxes. For those in this unenviable situation, they might not just have the IRS to deal with in the event they don’t pay their tax bill.  Instead, they may have to answer to private collectors.

Yes, Sometimes The IRS Is Willing To Compromise

Each year, millions of Americans struggle to pay their tax bills. For those who fail to take action and either reach out or respond to the IRS, the agency may eventually resort to filing a tax lien or garnishing wages to recoup some or all of a tax debt. To avoid suffering these types of personal and financial setbacks, tax payers who are not able to pay a tax bill would be wise to explore their options with regard to qualifying for an IRS offer in compromise.

What to expect with the 2017 tax season

We want to begin our first post of 2017 by wishing our readers a Happy New Year. With the new year comes new beginnings, and undoubtedly resolutions. One of the most popular is a promise not to procrastinate. While some may abide by this and get more things done, the federal government is not one to keep people waiting when it comes to tax filing season.

Many millenials don't deal with the IRS

Indeed, millenials see the world differently than Generation X’ers and baby boomers. They handle relationships, employment and technology quite different than how other generations. Because of this, it is not surprising that they handle the issue paying taxes differently too.

Be careful about tax refund anticipation loans

Do you know exactly when tax season starts? It really depends on whether you are a taxpayer or an accountant.  For accountants, the last week of January signals the beginning of tax season because people anticipating refunds want to collect on their windfall. For taxpayers, however, tax season may just start with the holiday season.

Three options for dealing with troublesome tax liens

Now that the holiday season is in full swing, few people are considering their options for “refund season,” which unofficially starts about the third week of January when employers begin handing out w-4 notices. Indeed, most people understand that the interest and penalties will be in store for those who do not pay their taxes. But what may not be known is the possibility that the IRS will guarantee its interest in collecting taxes through a tax lien.

The basics of voluntary tax compliance

As we begin this blog post, we hope that our readers had a happy and plentiful Thanksgiving. Now we enter what is commonly known as “the most wonderful time of the year.” Indeed, retailers want you to believe so because of all of the deals that can be had at the mall (or online). If you are a small business, it is the best time of the year because it is the final push to make the best of the year. For consumer taxpayers, it is the anticipation of w-2 notices based on end-of-year bonuses.

How to potentially avoid capital gains taxes

Wouldn’t it be great to completely avoid taxes? Most people would say yes. But be careful for what you wish for, because there is essentially no such thing as living “tax free.” However, lowering one’s tax burden to an easy and predictable payment is completely reasonable. This is especially true when it comes to the sale of property or securities, because of the prospect of capital gains taxes.

How to avoid tax penalties if you can't afford your tax bill

In our prior post, we highlighted how most people would rather pay their taxes to Uncle Sam through their regular withholding with each paycheck and get a refund every spring rather than to have a larger paycheck and possibly owe the federal government money.

Law Offices of Charles R. Frazier
5258 Murfreesboro Road #B
La Vergne, TN 37086

Toll Free: 800-836-9077
Phone: 615-534-4628
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