Myth vs. Fact: Can You Really Settle with the IRS for Pennies on the Dollar?
Introduction You’ve probably seen the late-night commercials or online ads promising to help you “settle your IRS tax debt for pennies on the dollar.” It sounds too good to be true—and for most taxpayers, it is. While the IRS does have a program called the Offer in Compromise (OIC) that allows some people to settle […]
IRS Qualified Offers: Requirements, Benefits, and How They Can Save You Money
When you’re in a tax dispute with the IRS, the costs of litigation can add up quickly. Fortunately, Congress created a tool called the Qualified Offer under IRC §7430(g)(1). If used correctly, it can not only help you settle your case but also shift the burden of attorney’s fees to the IRS if they reject […]
IRS Offer in Compromise: What It Is, Who Qualifies, and How the IRS Decides
IRS Offer in Compromise: What It Is, Who Qualifies, and How the IRS Decides Settling your tax debt for less than you owe sounds too good to be true—but the IRS Offer in Compromise (OIC) program makes it possible in certain cases. Here’s how it works, who qualifies, and an example of how the IRS […]
IRS Notice of Deficiency: What It Means and How to Respond
Getting a letter from the IRS is never fun—but a Notice of Deficiency (also called a “90-day letter”) is one you can’t afford to ignore. It’s the IRS’s way of saying: We think you owe more tax than you reported. The good news is that you have options. Here’s what you need to know and […]
IRS Fresh Start Program: Reality Check for Taxpayers
Introduction If you’ve searched online for ways to resolve IRS tax debt, you’ve probably seen ads promising help through the IRS Fresh Start Program. It sounds like a magic solution—wipe out your tax debt, settle for “pennies on the dollar,” and move on with your life. But here’s the truth: the Fresh Start Program isn’t […]
How Retirees Can Avoid IRS Surprises
Introduction: Retirement should be a time to relax, not worry about unexpected tax bills. Yet many retirees are caught off guard by IRS tax rules for Social Security, pensions, and retirement accounts. From Required Minimum Distributions (RMDs) to the taxation of Social Security benefits, the IRS has rules that can create unpleasant surprises if you’re […]
IRS Debt Relief Options for Businesses
1. Installment Agreements for Businesses 2. Offer in Compromise (OIC) for Businesses 3. Currently Not Collectible (CNC) Status 4. Penalty Abatement 5. Trust Fund Recovery Penalty (TFRP) Defense Why Professional Help Is Critical Dealing with the IRS as a small business owner is not the same as handling personal tax debt. The stakes are higher, […]
How Long Does the IRS Have to Collect Back Taxes?
Introduction Tax debt doesn’t last forever. The IRS generally has 10 years to collect unpaid taxes, but the rules are more complicated than they seem. Knowing how the “collection statute” works—and what can extend it—is critical to making smart decisions about your tax situation. The 10-Year Rule The IRS has 10 years from the date […]
Gambling Income and Taxes: What Changed Under the One Big Beautiful Bill
Whether you’re a weekend slot player, a sports bettor, or a professional poker pro, one thing is certain: the IRS wants its cut of your winnings. Gambling income has always been taxable, but a recent law—the One Big Beautiful Bill, signed on July 4, 2025—introduced a major shift that affects both casual and professional gamblers. […]
Year-End Tax Moves to Avoid an IRS Bill
Introduction: Smart year-end tax planning can help you avoid an unexpected IRS tax bill in April. By taking action before December 31, you can reduce taxable income and minimize your risk of owing back taxes. Strategies to Consider Conclusion A little planning now can save you from IRS penalties later. Contact us for a year-end […]