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Internal Revenue Service Payment Plans Tax Debt

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Foodman CPAs & Advisors

Revocación O Denegación De Pasaporte Continúa

El 1/1/24, el IRS actualizó su página de revocación o denegación de pasaporte en casos de ciertos impuestos no pagados. La Sección 7345 del Código de Rentas Internas requiere que el Departamento del Tesoro de los EE. UU....more

Foodman CPAs & Advisors

Passport Revocation Or Denial Continues

On 1/1/24, the IRS updated its Passport Revocation or Denial Page in cases of certain unpaid taxes. Section 7345 of the Internal Revenue Code requires the U.S. Department of the Treasury to notify the U.S. Department of...more

Gray Reed

Compromising with the IRS

Gray Reed on

Many people end up owing the IRS for many reasons and there are various options to resolve your tax debt.  Some of the options include an offer in compromise, installment agreement, or currently non-collectible status....more

Burr & Forman

You Owe IRS Taxes: What Do You Do? The Offer in Compromise (Part 5)

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Where individuals and businesses owe IRS taxes, the IRS has a settlement program where it can legally accept less than what is owed. Known as an “Offer in Compromise,” Congress has given the IRS the authority to “compromise”...more

Burr & Forman

Currently Not Collectible Taxes: What Do You Do? (Part 4)

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If an individual or business owes federal taxes and does not have the current ability to pay these taxes, the IRS can consider placing the account into “currently not collectible” (CNC) status. If placed in CNC status, a...more

Burr & Forman

Tax Payment Plans: What Do You Do? (Part 3)

Burr & Forman on

If an individual or business owes federal taxes and does not have the current ability to pay these taxes, the IRS can “seller-finance” and offer a payment plan with the taxpayer. The primary benefit of a payment plan is that...more

Burr & Forman

IRS Tax Payment Plans: IRS Considering Increased Payment Limits and Longer Payback Periods for Easier “Streamlined” Payment Plans

Burr & Forman on

Over the course of the next year, the Internal Revenue Service (IRS) is testing new eligibility criteria for its “streamlined” payment agreements, with the goal of making it easier for taxpayers to pay off their outstanding...more

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