For taxpayers with IRS back tax issues the Partial Pay Installment Agreement (PPIA) and Regular Installment Agreement (IA) are frequently utilized resolution options. Let’s compare these two resolution options and their qualification criteria.The regular IA applies to the taxpayer that has income and or assets which would be deemed adequate to pay off their back...
The most common, Fresh Start Tax Relief Programs are Installment Agreement Payment Plans, Currently Non-Collectible and Offer In Compromise. For taxpayers with unpaid back taxes its of extreme importance that they work with a qualified partner or have the knowledge themselves to understand the benefits and adverse implications associated with each option available to them. For...
A common problem facing business owners with more than one employee are the risks associated with not paying their payroll taxes. One quarter turns into 8 or more quarters of not filing payroll returns nor paying payroll taxes withheld from employees’ paychecks. Business owners who have formed single member LLCs generally file a Schedule C...
What options does the taxpayer(s) have to resolve the issue of unpaid payroll taxes. If the taxpayer(s) feel they are not responsible, they can challenge the matter before the IRS from the investigation level through the appeals level either on their own or with representation. Restructure or reorganize the business to reduce the taxpayer(s) exposure...
What to do if I missed an IRS payment or if I defaulted on an IRS payment plan? What should I do if I’m about to miss a payment in my IRS repayment plan? You have several options available if you aren't able to make payments on your installment agreement with the IRS. Options include reducing the...
