irs: Seek Tax Debt Relief While Special Pandemic Rules Are In Place - 05/31/21 10:41 AM
Prior to the pandemic, if you owed anything over $50k to the IRS, you were required to disclose every detail of your finances. This includes all sources of income, expenses, and all assets. 
For high income individuals especially, this is a nightmare.
If your “disposable income” comes out to $10k per month, that’s what the IRS would require. If you have a house with $100k in equity - the equity is up for grabs. 
Under the new pandemic rules, things have changed…
Here's your Back Tax Pro Tip of the Day: Take advantage of the Taxpayer Relief Initiative where full financial disclosure is not required … (3 comments)

irs: IRS Fresh Start Program Initiative – Ways to Settle Back Taxes - 05/30/21 03:51 AM
You've worked hard, but for whatever reason, you find that your tax debt cannot be paid on time and you don't know how to resolve it.
Owing the IRS for back taxes is a nightmare you never thought you would take part in. Yet, here it is. The penalties are accumulating and the threatening letters have arrived.
You're not alone. The IRS collects millions from taxpayers in penalties for failure to pay. Yet, many taxpayers are unaware that the IRS does have programs to help you get back on track.
Curious about the IRS Fresh Start Program? Check out our informative article for a helpful overview of … (4 comments)

irs: IRS OFFER IN COMPROMISE: WHAT TO KNOW - 05/29/21 05:43 PM
Some 14 million Americans owe a whopping $131 billion in back taxes, penalties, and interest from 2018. It's not surprising to know that not only does the IRS keep track of these things, but they will also do what they can to get the money. 
The IRS has an IRS’ collection statute which gives them a ten-year window to collect back taxes from individuals. 
Are you one of the millions who still owe back taxes? Are you hoping to find a way to negotiate the amount you actually owe to the IRS? If you're nearing the end of the window the IRS can collect, you might … (1 comments)

irs: 3 Collection Alternatives To Solve IRS Back-Tax Debt Problems - 10/10/20 08:17 AM
Collection alternatives if you cannot pay the tax debt We know the story: things are tight financially, so you either (1) do not file the tax return, or (2) file the return but don’t pay the balance due. But do not worry, you tell yourself, next year will be better.
Now it is 2-3 years later and a letter arrives from the IRS, and the threats start, and maybe it has even gotten to the point of actual levy and seizure activity.
Now the IRS is wreaking havoc on your financial life and you simply do not know what to do.
(7 comments)

 
Keith Jones, CPA, I help GOOD FOLKS solve IRS tax problems & restore (Keith Jones, CPA TheCPATaxProblemSolver)

Keith Jones, CPA

I help GOOD FOLKS solve IRS tax problems & restore

Jacksonville, FL

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Keith Jones, CPA TheCPATaxProblemSolver

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