IRS’s Enforced Collection Measures and What to Do About It If you owe money to the IRS, the government will usually file a Federal Tax Lien. A tax lien is a negative mark on your credit report and “attaches”
What to Do When You Owe the IRS: The Offer in Compromise The IRS Offer in Compromise (OIC) program is the most misunderstood, misrepresented, and abused tax debt resolution program in history. It reached nearly mythic status with late-night
When Your Hard-earned Money Is at Risk—The IRS Bank Levies If the IRS has levied your account, you have only 21 days to submit all the necessary documents and secure a release before the money is gone. Time is
Frequently Asked Questions (FAQs)—IRS Tax Problems and IRS Tax Debt Relief. The IRS Offer in Compromise Program Defined 1. What is an IRS Offer in Compromise? In most cases, an IRS Offer in Compromise is a way to settle
Filing Tax Returns—The Basics The following page applies to U.S. citizens and residents living and/or working outside of the United States. U.S. persons (citizens and permanent residents/Green Card holders) are required to file a tax return each year, no
Taxpayer’s Bill of Rights In tough economic times, many business owners and self-employed people find it difficult or impossible to pay their Federal taxes. When the debt is too large to pay, you then get the joy of negotiating
Getting Out of Trouble—the Offer in Compromise By Christian Reeves Tax Attorney “Chris, I’m in a big trouble,” started one of my clients. “I owe around US$50,000 to the IRS for the last three years and I’m now unemployed.
IRS & The Statute of Limitations By Christian Reeves Tax Attorney The bottom line is that the IRS usually has 10 years to collect from you once a tax return is filed, and generally has 3 years to audit
When the IRS Makes a Deal with You—the Installment Agreement By Christian Reeves Tax Attorney “I owe the IRS $20,000 because I didn’t have enough withheld from my paycheck over the last few years. I’m working full-time, but I
The IRS Collection Standards—Friend or Foe? By Christian Reeves Tax Attorney Chances are that you are reading this because you are considering paying your back taxes through an Offer in Compromise or an Installment Agreement. In the forms you
Can I Dump My Tax Debt in Bankruptcy? Bankruptcy and Tax Debts By Christian Reeves, Tax Attorney Personal income tax debts may be eligible for discharge under Chapter 7 or Chapter 13 of the Bankruptcy Code. However, special rules
PremierOffshore is now on the Overseas Radio Network! Please check out my latest show below and broadcast archives at Global Business and Tax Advisor. Below are older audio files from my conferences in Panama, Belize, Singapore and
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Dear New Reader, Thank you for signing up for my e-letter. Every Monday, Wednesday and Friday I will send you helpful research, information, and the occasional commentary on living, working and doing business offshore. In a few minutes, you
IRS Voluntary Disclosure Program is great news for some Expats and dual-nationals As an ExPat American, you know that you are required to file a U.S. tax return each year and report your foreign bank accounts if you have
401(k) Fees Revealed – Get Ready for a Shock! If you have a 401(k) account with a U.S. broker, you are about to get the shock of your life. When you receive your next quarterly statement, probably between Sept.