IRS Help Without the Stress

Mark owed $50,000 in back taxes and applied for an Offer in Compromise. His actual monthly expenses exceeded $5,000, but the IRS only allowed $3,800 based on national and local standards.We reviewed his spending and found certain costs, like private school tuition and premium cable, that the IRS ...

Thought you had your IRS situation under control?  A river adventure shows why asking for help early can save you time and stress.A friend and I decided to float a leg of a river we had never floated before.  We thought we had all the information we needed to have a great time.  We figured it wou...

Yesterday, Freckles and I went for a bike ride.  I rode my bike; she ran free.  This is the best way I know to have her work out some of her energy.  As we were riding along, we saw three deer.I was able to stop Freckles from chasing the first two.  She really wanted to go after them, but she lis...

I don't often get to write about good news from the IRS, but today I can.The IRS has announced a change that could save you both time and frustration.  Beginning this summer, the IRS is replacing its First Time Abate program with a new Automatic Exemption from Penalty (AEP) program.What does that...

When applying for IRS relief programs such as an Offer in Compromise (OIC), Currently Not Collectible (CNC) status, or even certain installment agreements, the IRS takes a close look at your finances. One of the most important parts of that review is your allowable expenses, the costs the IRS agr...

I had a client who took out over $100,000 from their 401 (k) for personal uses.  They were retired and wanted to enjoy life before their health didn't let them anymore.  They did have 10% taxes taken out of the distribution, so they thought they were all set with the IRS and went about enjoying t...

When I left off, I was limping my truck, camper, and animals to Idaho.I made it to Idaho, and my animals were very happy to be out of the truck!  The mechanic who rebuilt my transmission told me to take it to a transmission shop to find out what was going on and gave me the impression that it was...

One of the first things I request when I'm helping someone with an IRS problem is their IRS transcript.  Most people have never seen one or understand what it is.An IRS transcript isn't a punishment.  It isn't the IRS judging you.  It's simply a record of what the IRS has on file.Think of it like...

One of my clients, whom we'll call Ron, came to me feeling completely overwhelmed.  He hadn't filed tax returns for several years, and the situation had reached the point where the state was levying his bank account.To make matters worse, the state had estimated what they believed he owed based s...

"I'd love to take the home office deduction, but my house is just too small."Actually, it might not be.  Many people picture a home office as an entire spare bedroom with a desk, bookshelves, and a computer.  The IRS doesn't require that.In fact, your qualifying office space could be surprisingly...