Do You Qualify for a First Time Abatement?

Do you wonder if you can get those nasty IRS penalties waived? The answer, if you haven’t had any run ins with the IRS recently is, yes! The IRS offers an administrative waiver for certain penalties called the First Time Abatement. The basic idea behind the waiver is that if taxpayers haven’t had any issues recently, … Continued

When to File an Offer in Compromise

In a recent blog post, I discussed the reasons why many people should not file an Offer in Compromise. I believe it is part of my job and my commitment to my community to dispel myths advertisers spread. Especially the myth that OICs are a cure-all for back tax problems.  You only have to Google … Continued

Hardship Granted with $63K in the Bank

A taxpayer filing for an innocent spouse relief was granted relief despite an initial denial and $63,000 in her retirement account. In Van Arsdalen v. Comm’r, the US Tax court granted the petitioner relief from her joint tax liabilities. Despite retirement assets being sufficient to pay a large percentage of the liability. The IRS initially … Continued

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