An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service (IRS) that settles the taxpayer’s tax liabilities for less than the full amount owed.
GoToTaxHelp can help you get into compliance by filing your old, unfiled tax returns. That will open up the possibility of filing an Offer in Compromise if you qualify.
Wage garnishments take money directly from your wages and salary. They have a continuous effect. They attach to future payments, until the levy is released.
You can be relieved of responsibility for paying tax, interest, and penalties if your spouse (or former spouse) improperly reported items or omitted items on your tax return by requesting inocent spouse relief.
You may appeal many IRS collection actions to the IRS Office of Appeals using two different procedures called Collection Due Process (CDP) and Collection Appeals Program (CAP). There are also some other procedures available.
The IRS can abate any portion of a penalty or addition to tax caused by erroneous advice furnished to you in writing by an officer or employee of the IRS acting in his or her official capacity or for Reasonable Cause
Income taxes withheld from your employee's paychecks and the employee's portion of the Social Security and Medicare taxes are called Trust Fund taxes because the employer actually holds the employee’s withheld taxes or the collected excise taxes in trust until the employer makes a federal tax deposit in the amount of the withheld or collected taxes.