Month: August 2013

When trying to decide whether or not to file joint or separate on a 1040 form (or even when amending past returns to claim refunds), these are three things every gay couple must consider in order to make the optimum decision …

Tonight, I celebrate today’s news about gay couples and tax returns with a certain happiness. Well, except for those certain gay couples who will now be hit with the marriage penalty. What is the marriage penalty? Basically, single-income couples usually

Simple answer, No. Some IRS examiners at particular units follow the “unwritten” rules of that particular service center. What kind of things are they getting wrong? Sometimes, the entire Offer in Compromise formula.

As we’ve discussed previously, the Offshore Voluntary Disclosure Program (OVDP) is about your unreported FBARs. It’s an IRS program involving unpaid tax in conjunction with FBARs, seeking to correct a certain problem (and …

The pros and cons of requesting IRS tax return transcripts yourself vs. hiring a tax pro to request them for you: The Internal Revenue Service allows taxpayers to request transcripts both online and on the telephone. But is this the best move? Let’s discuss the advantages …

Are you a potential candidate for an Offer in Compromise? If you are an individual or a business taxpayer and you do not have the income, assets, or means to pay your IRS debt now, or in the foreseeable future, you just might meet the requirements.

At the end of the OVDP process the assigned agent sends out a closing agreement, IRS Letter 906, also called Form 906. It summarizes the Offshore FBAR-equivalent penalty being assessed and asks that the taxpayer sign off on the agreement and send payment (although a standard IRS collection alternative can be arranged …

Let’s just this out of the way, we aren’t going to be talking about jail. The reason is that for most FBAR non – filers, going to jail for failing to file an FBAR is highly unlikely. The point of this article to to discuss the likely consequences for not …

NOTE: This article is not about when the IRS garnishes your refund for back child support. For information on that topic, go here. This article is about what to do when you have both IRS and child support garnishments on your paycheck and you have difficulties meeting your obligations. If you have an IRS garnishment, you can request it be removed so that you…