pandemic: 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 … (4 comments)