Did you know that the IRS has the right to garnish your wages or bank account funds in order to satisfy a tax debt? Dealing with the IRS is difficult enough, but once your paycheck or bank account has been garnished you are likely to experience a new realm of problems. However, it is never  … Read more

Many people owe the IRS money. In fact, it is estimated that nearly 6 million Americans are in some sort of tax debt. While dealing with the IRS can be stressful, it is not impossible. There are many ways you can manage your tax debts and get out from under the eye of the IRS.  … Read more

The RCP—Reasonable Collection Potential—is the golden number for your offer in compromise because it more or less says that you are an ideal Offer In Compromise candidate. The reasonable collection potential is roughly estimated as your solvent or liquid assets plus what income you can expect to generate in the next four to five years.  … Read more

There are many reasons people fail to report or properly report their taxes. In many cases, we simply are unaware of the obligation we have to the federal government because we are in a place in life or work a job that doesn’t make clear for us our IRS debt obligation. It is easy to  … Read more

The IRS is the most rigid lender you have. Unlike ‘optional debt,’ everyone must pay their dues to the IRS, and the IRS takes tax debt and delinquency very seriously. And they should—hundreds of millions of people dutifully pay their taxes every year. Still, hard times can befall anyone, and an Offer in Compromise is  … Read more

Each year, many Americans come to the unpleasant realization that they owe the IRS money. The tab ranges from a few hundred to many tens of thousands, depending on what that person earns and the assets controlled. What many people don’t realize is that the IRS will take less than a single lump sum payment.  … Read more

Do you owe the IRS money? Are you wondering about how to settle a tax debt? For those who are not in the know, an IRS Offer in Comprise is a way that taxpayers who are behind on their tax payouts to the IRS can try to settle the debt without spending so much money.   … Read more