Jul 25, 2023
A partial pay installment agreement (PPIA) is what some call the “backdoor offer in compromise.” This involves not paying your tax liability in full.
For most people, a PPIA is a
much easier way to get a settlement with the IRS than an offer in compromise (OIC). The
reasons include the less time needed to process,...
Jul 18, 2023
A revenue officer is an agent responsible for collecting revenue for the IRS.
Their goal is to get as much
money as possible. These officers have the power to levy your bank account and garnish
your wages.
When a revenue officer is
assigned to your case, they will send you an initial document request (IDR). They
will...
Jul 11, 2023
Jul 4, 2023
According to the IRS, a high-net-worth individual is one who makes over $100,000. They have a special department that looks into these individuals with unfiled tax returns.
For businesses, the IRS
considers gross revenue. If a business has $200,000
worth of revenue after expenses
and only $50,000 of income, it is still...