TaxAudit Blog

Tag: offer in compromise

Woman thinking about Tax

An IRS Offer Compromise is an attempt to settle your tax liability with the IRS for less than what is owed. There are three types of Offers in Compromise.

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Woman reading a letter and holding her phone

Notice CP14H is issued by the IRS to inform you of your unpaid shared responsibility payment that is due and to request that payment. How should you respond?

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Debt Relief Just Ahead sign

The taxpayer owed over $30,000 in back tax debt that she couldn’t afford to pay. Not knowing what to do, the taxpayer contacted TaxAudit for help.

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Picture of

Thirty days from the date of the IRS Notice CP90, the IRS has the right to begin taking assets. This can include bank accounts, wages, and retirement accounts.

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Man reading a letter

An IRS CP501 is an official notice from the IRS Collections Unit that is sent to taxpayers to inform them that they have an outstanding debt.

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Handcuffs laying on a 1040 form

There are many ways taxpayers can deal with getting their tax debts settled but the best path for each taxpayer depends on the circumstances of their case.

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Mississippi Flag

The State of Mississippi’s Department of Revenue (DOR) provides a number of different methods for you to deal with your tax problems and get your debt resolved.

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California Taxes written on a notepad

An Offer in Compromise may help certain taxpayers who cannot pay their tax debt to the California Franchise Tax Board in full. Let's review the requirements.

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Offer in Compromise

The IRS has an Offer in Compromise program to allow qualified taxpayers settle their tax debt for less than the full amount owed. Here's what you should know.

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Business Owner Looking at Receipts

There are many options for managing your small business tax debt. A tax resolution specialist from TaxAudit can guide you in choosing the best approach.

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Tax Resolution Specialist

If you find yourself with tax debt due to unpaid payroll taxes, you may have options to help settle the debt. Let’s review some payroll tax debt relief options.

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Fresh Start Ahead

If you’re struggling with back taxes, you may be able to qualify for assistance under an IRS initiative called Fresh Start. Here are 3 ways to be eligible.

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Couple looking at financial paperwork

Yes, the length of time the IRS is allowed to collect a tax debt is generally limited to 10 years. Is waiting out this period a strategy for resolving tax debt?

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Wage Garnishment

If you are buckling under the weight of an IRS wage garnishment, it is time to get yourself free! We have seven practical ways to stop an IRS wage garnishment.

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Tax Refund Check

If you owe the IRS back taxes, don’t start spending your refund before it arrives. The IRS can levy or take your refund and apply it to your tax debt.

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Man distressed with tax bill

First, it is essential to make sure you actually owe the tax due. The next step is to figure out how to pay the tax as quickly and painlessly as possible.

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new plant growing out of coal

In 2011, the IRS launched the Fresh Start program and has since expanded the program in the hopes of assisting more taxpayers who carry federal tax debt.

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Wage Garnishment

The IRS may collect federal taxes that are due by garnishing (levying) a taxpayer’s wages. The IRS will notify your employer to begin garnishing the wages.

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Four jars with money and plants growning

The Fresh Start program is designed so that taxpayers pay their debt in full within six years, and without a serious financial burden being placed upon them.

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Back Taxes written on a computer screen

If you owe back taxes, there are options to resolve your back taxes, and TaxAudit can help. Here are a few possible options:

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Owe Taxes

No matter the cause of each person’s tax debt, there are a number of different programs offered by the IRS to help taxpayers get back into the good books.

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Book with California Taxes written on the cover

Options are available to those who cannot pay their taxes in full by the deadline. A good line of communication with the CA Franchise Tax Board is critical.

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Man with tax burden

Having a tax bill is not a situation anyone wants to be in. Fortunately, there are ways to deal with tax debt owed to the IRS. Let's explore a few solutions.

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Tax Debt Relief

Millions of individuals and business owners in America currently have unpaid IRS tax liabilities. Here are a few items to consider for tax debt relief options.

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This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.