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Tag Archives: oic

How to Avoid IRS Collection Action and Levies


Bob never intended for it to get this far. When he filed his return in April, he thought, “I’ll pay this off in a month or two.” Somehow, like many Americans, his good intentions fell by the wayside as other urgent financial obligations arose and his unpaid balance at the IRS remained unpaid longer than he intended it to. Of ... Read More »

    IRS Offers Payment Plans to Those Having Money Troubles


    If you owe the IRS taxes and you’re having a difficult time paying, you’re not alone. In 2010, 23.9 million individual taxpayers filed a tax return with a balance due. More than 20 million taxpayers paid the tax with their return, after the first IRS notice, or after receiving an extension to pay from the IRS. However, another 3.8 million ... Read More »

      My Husband Committed Suicide and Left Me With IRS Debt. – Kathy


      “Dear Jim, I’m dealing with a situation where I was married for 11 years. It was a very abusive marriage. To make a long story short, he committed suicide, since then the IRS has been hounding me, garnishing my wages and threatening holds on my bank account as they have made me liable for all of his back taxes, which ... Read More »

        The IRS Rejected My Offer in Compromise Submitted by an Attorney, Twice. What Now? – Bradley

        “Dear Jim, Presently paying state 616 per month for 60 months paying. Paying fed 1780. Per month for 72 months After using an in effective attorney failed offer in compromise twice is there a better deal that I can make with state and fed? Bradley” Bradley: Your options all depend on your facts. Specifically, what is your ability to pay ... Read More »

          Single, Female, Unemployed Architect With Vasectomy Liar, “at the End of My Rope.” – Marie

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          “Dear Steve, Single, female unemployed architect for several years picking up small jobs here and there. Recently experienced a traumatic and devastating engagement breakup causing me to replace all of my belongings, while unemployed. Have gone through life savings and 401K while unemployed and temporarily disabled. $78,257 DEBT of which $23,337 is student loans (on hold), $15,853 is 2009 Federal ... Read More »

            Offer In Compromise Rules Relaxed by IRS. Big News!

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            I do not normally get motivated by IRS changes in collection rules, but yesterday’s change to the Offer in Compromise (OIC) program was fairly significant. As you know, this program allows taxpayers, who qualify, to settle their tax liability in full for an amount less the full liability owed. There are many deceptive companies who publish that they can get ... Read More »

              I Owe the IRS. Will They Settle for a Lesser Amount in an Offer in Compromise or Do I Need an Attorney? – Diana

              “Dear Jim, I owe the IRS $26,000. There were some years I failed to file taxes and some years I filed and owed, but they said I never filed, I have the copies. I have all the information except one year. My question is will the IRS settle with me for a lesser amount or do I need to hire ... Read More »

                IRS Says It Will File Fewer Tax Liens

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                In an article brought to my attention by a great tipster (send in your tips here), the IRS says it will file fewer tax liens and make it easier to get those liens removed from credit records once the debt has been resolved. Kind of a form of legal credit repair. In these tough economic times it can be helpful ... Read More »

                  FTC Warns Consumers to Stay Away From Tax Relief Companies

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                  The Federal Trade Commission has issued the following warning to consumers. It’s good advice. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Owe Back Taxes? Tax Relief Companies Can Result in More Pain than Gain We’ve helped thousands of people settle their tax debts for a fraction of the amount owed. We can stop wage garnishments, ... Read More »

                    Advertisements About Eliminating IRS Debt Not Honest

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                    Attorney General Abbott Charges JK Harris With Misrepresenting Its Ability To Reduce Unpaid Tax Debts South Carolina firm’s advertisements overstated, misrepresented its tax resolution services AUSTIN – Texas Attorney General Greg Abbott today charged JK Harris & Company, LLC, its owners and two related firms with materially misrepresenting their ability to help Texans resolve their unpaid tax obligations. According to ... Read More »

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