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 “Settle Your Back Taxes for a Fraction of What You Owe – Tax Evaluation Waiting! Stop IRS Collections Now.” –Google search ad results, September 2018 What’s true is that the IRS has a program that allows taxpayers to settle their tax debts for less than the amount they owe. The formal name for this tax […]

The U.S. Tax Court has rejected Wesley Snipes’ appeal of the IRS’s rejection of his offer in compromise. Snipes has federal deliquent tax liabilities of approximately $23.5 million for tax years 2001-2006, largely as a result of his failure to file tax returns. The movie actor served three years in prison for failure to file […]

Warwick, R.I.: Preparer Raymond Petrarca has pleaded guilty to 44 counts of filing fraudulent returns for clients. According to documents and information provided to the court, Petrarca owned and operated the tax prep business Stratus Financial Group. He admitted to falsifying 44 returns prepared for clients between tax years 2010 and 2015, seeking undeserved federal refunds. […]

The IRS Collection Process: A Review of the Basics Procedure & Administration The IRS is the largest collection agency in the country and by far the strongest, empowered by Congress to take actions necessary to collect taxes owed to the federal government. Such a wide-ranging power can easily create some fear among those who do […]

Will my IRS debt ever just go away?  Will there ever be a time that the IRS will just leave me alone? Yes, and yes. The collection of most every IRS debt eventually ends, and that would include yours.  This is called the statute of limitations on IRS collections.  The Internal Revenue Code gives the […]