Tag Archives: Tax Debt

OIC – Slashing Tax

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 […]

Marrying for Love

Today TaxMama® hears from Someone Privately with a romantic story. “My client was deeply in love with a woman who was dying of cancer. To demonstrate their love, they got married in July of 2011. She died in February 2012. The problem? She had a lot of tax debt, spanning several years. How do we […]

IRS Offers New Penalty Relief and Expanded Installment Agreements

Courtesy of the IRS IRS Offers New Penalty Relief and Expanded Installment Agreements to Taxpayers under Expanded Fresh Start Initiative WASHINGTON — The Internal Revenue Service today announced a major expansion of its “Fresh Start” initiative to help struggling taxpayers by taking steps to provide new penalty relief to the unemployed and making Installment Agreements available […]

Fish for a Day

Today TaxMama managed to crash the TaxQuips Forum. We’ll get it back up this morning. In the meantime, let’s talk about some of the issues that keep cropping up in the questions that I’ve seen these past few weeks.  

Taxes Affecting Credit Score

Today TaxMama hears from Monte in the TaxQuips Forum who asked one last question. “Will my unfiled tax return and tax debt affect my credit?”  

Back Taxes and Child Support

Today TaxMama hears from Krissy in the TaxQuips Forum who needs help. “I am married with two children, low income and my husband owes back child support. Last year I filed separately and ended up owing taxes. I had to set up a payment plan with the IRS to pay it off. I’d like to […]

Trustworthy Tax Negotiator

Today TaxMama hears from Judy in the TaxQuips Forum who needs help.  “I am struggling to maintain my household, have four years of back taxes to file and settle and my home was just foreclosed on. I was contacted by someone claiming that they can help negotiate a reduction in tax liability and stop any […]