irs collections: Minnesota: Don't waste your time on Offer in Compromise "OIC" if you.?
- 01/03/21 10:37 PM
Offer in Compromise (OIC) is a program administered by the Internal Revenue Service which allows taxpayers to settle their tax debt for less than the full amount they owe— essentially allowing them a fresh start with the IRS.In the past years, more than 50% of OIC applications received by the IRS are rejected. Here is a quick guideline to determine if you a good candidate for an Offer in Compromise. 1. Taxpayers not in compliance i.e If the taxpayer is not current with the current tax obligations like estimated tax payments, payroll taxes, have unfiled tax returns.The taxpayer is not a good … (0 comments)
irs collections: Maple Grove, MN :How to Stop IRS Wage Garnishment.
- 11/08/20 08:03 PM
I represent taxpayers in Maple Grove, Minnesota and all the 50 States in the United State before all administrative levels—examination, collection, and appeals—of the Internal Revenue Service (IRS). One of the tools the IRS uses to get a taxpayer's attention or get a tax debt paid is to start garnishing their wages using a continuing levy. A continuing wage levy is designed to make it economically painful so that it forces taxpayers to contact the IRS and deal with the back tax issue. Before the issuance of the wage levy, five or six months have passed without the taxpayer dealing with the back … (0 comments)
irs collections: Maple Grove, MN: Do u know that IRS has 10yrs to collect on tax debt?
- 11/03/20 01:23 PM
I represent taxpayers in Maple Grove, Minnesota and all the 50 States in the United State before all administrative levels—examination, collection, and appeals—of the Internal Revenue Service (IRS). By law, the IRS have 10 years to collect on a tax debt, after 10 years the tax debts expire. For example, a taxpayer owes $25,000 on his/her 2010 return, filed the return in April 2011 and the IRS assessed the taxpayer in May 2011. The IRS has 10 years until May 2021 to collect on the tax debts if the taxpayer did not do anything to extend the date. However, there are certain events … (0 comments)
irs collections: Maple Grove, MN: IRS Notices U might come across if U owe back taxes
- 10/25/20 09:05 PM
I represent taxpayers in Maple Grove, Minnesota and all the 50 States in the United State before all administrative levels—examination, collection, and appeals—of the Internal Revenue Service (IRS). The IRS sends out several notices to taxpayers. In this blog, I want to talk about notices you might get if you owe back taxes or have issues with your tax return. This is a brief explanation of the notices.
IRS2006 Notice The IRS has received the information you sent to them. They are still researching the issue. They typically advise that it will be another 60 days to let you know what action they are … (0 comments)
irs collections: Maple Grove MN: Understanding IRS Notices Part 2
- 10/18/20 10:29 PM
I represent taxpayers in Maple Grove, Minnesota and all the 50 States in the United State before all administrative levels—examination, collection, and appeals—of the Internal Revenue Service (IRS). The IRS issues out several notices. My goal is to cover common notices that a taxpayer or business might have received. It is important to open the mail and understand what the IRS is trying to communicate to the taxpayer. Here are other common notices: CP162 Notice The IRS charged the S Corporation or partnership a penalty for failure to file the 1120S or 1065 tax return. This penalty is $195 for each person who … (0 comments)
irs collections: Maple Grove, MN : Understanding IRS Collection Notices/Letters.
- 10/11/20 10:15 PM
I represent taxpayers in Maple Grove, Minnesota and all the 50 States in the United State before all administrative levels—examination, collection, and appeals—of the Internal Revenue Service (IRS). For you to stop IRS Collections you must understand the collection process. Today we are going to talk about understanding the typical IRS Collection notices/letters .
CP501 Notice - There is a balance due on the taxpayers account. This is a friendly reminder from the IRS that you still have an unpaid tax bill. The CP501 notice includes a recap of the amount you owe plus any penalties and interest that have accrued. If the taxpayer doesn't pay … (0 comments)
irs collections: Video:: Maple Grove, MN : How to Stop IRS Collections?
- 10/07/20 09:15 PM
I recently uploaded a video on YouTube about the blog “How to Stop IRS Collections?”. You can check out through this link. If you or someone you know has unfiled tax returns or some other federal or state tax issue such as Payroll, Sales tax, please feel free to contact me at either (612) 516 5878 or by email at joe.alabi@fishcointax.com.
Joe Alabi EA MAcct(Taxation) FishCoin Tax Solutions Ph. (612) 516 – 5878 Fax (651) 419 -2021 www.fishcointax.com Email : info@fishcointax.com
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irs collections: How to Stop IRS Collections?
- 10/07/20 08:57 PM
I represent taxpayers in Maple Grove, Minnesota and all the 50 States in the United State before all administrative levels—examination, collection, and appeals—of the Internal Revenue Service (IRS). For you to stop IRS Collections you must understand the collection process. The first step to stop IRS Collections is to call the IRS(the phone number to call is on the IRS notice/letter). It sounds simple but very important.The IRS might be planning to levy your bank account,garnish your wages or enforce other collection actions on your assets,time is of the essence. On the phone you should ask the Revenue Officer/Agent for time to … (1 comments)
irs collections: Video : What to do if you have years of unfiled Tax Returns?
- 10/07/20 08:22 PM
I recently uploaded a video on YouTube about the blog “What to do when you have years on unfiled Tax Returns”?You can check out through this Link. If you or someone you know has unfiled tax returns or some other federal or state tax issue such as Payroll, Sales tax, please feel free to contact me at either (612) 516 5878 or by email at joe.alabi@fishcointax.com.
Offer in Compromise (OIC) is a program administered by the Internal Revenue Service which allows taxpayers to settle their tax debt for less than the full amount they owe— essentially allowing them a fresh start with the IRS.In the past years, more than 50% of OIC applications received by the IRS are rejected. Here is a quick guideline to determine if you a good candidate for an Offer in Compromise.
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