Today TaxMama® hears from Sallie in the TaxQuips Forum who is puzzled. “I am trying to prepare an offer in compromise. When I go through the computations in the updated Form 656 package, the offer amount equals more than the tax they owe! I’m missing something. Please help.” Hi Sallie, What you’re saying is, that […]
Courtesy of IRS. [TaxMama note: Owing money can be really frightening. However, they generally do NOT put in you in jail. And IRS is trying hard to help you find ways to pay, without spending $3,000 or more for a professional tax debt negotiator. So, please, use the help offered.] While the majority of Americans get […]
TaxMama’s Tax Roundtable is a monthly live discussion open to all TaxMama Family Members and above, and all TaxMama’s EA Exam and Solving the Tax Puzzle Students. REPLAY today’s session below – you can listen and SEE the session and forms. It will load slowly…perhaps slowly. But it will load
Courtesy of IRS [But read TaxMama’s Tips at Suze Orman’s MoneyMindedMoms.com site – if you need even MORE time! And don’t like IRS’s options.] Taxpayers who owe taxes may be relieved to know that there are some options for those who owe and can’t afford to pay the full amount right away. Here are the top […]
Note: TaxMama’s Tax Roundtable is a monthly live discussion open to all TaxMama Family Members and above, and all TaxMama’s EA Exam and Solving the Tax Puzzle Students. Don’t you wish you were here? REPLAY today’s session below – you can listen and SEE the session and forms.
Today TaxMama hears from Haley in the TaxQuips Forum, who is working on an Offer in Compromise. “Is there a method for obtaining a fair market value (FMV) for a Time Share property? I would hate to report the full purchase as the FMV on the 433-A, but don’t know any other way to value the […]