Check out my new article on non-filers

I just posted a new article on IRS non-filers explaining that the situation is manageable and not as dire as you expect. Learn how to deal with the situation by reading this article by San Antonio tax attorney Martin Cantu.

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5 Types of IRS Offers You Need to Know About

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  If you're struggling with IRS debt, it can feel overwhelming and stressful. However, there are options available to help you resolve your tax debt and move forward with your financial future. One of these options is an IRS offer, which comes in five different types. Learn more about these offers and how they can help you get back on track.   Offer in Compromise. An Offer in Compromise (OIC) is one of the most well-known types of IRS offers. It allows taxpayers to settle their tax debt for less than the full amount owed. To qualify for an OIC, taxpayers must demonstrate that they are unable to pay their full tax debt, either through a lump sum payment or through a payment plan. The IRS will consider factors such as income, expenses, and asset equity when evaluating an OIC. It's important to note that not all taxpayers will qualify for an OIC, and it should only be pursued after consulting with a tax professional.   Installment Agreement. An Installment Agreement is
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Unlocking the Secrets of an Offer in Compromise: A Comprehensive Guide - Chapter 4

  Chapter 4 – Filing Details/Payment Terms/Important Consequences IRS FORM 656 – OFFER IN COMPROMISE Use IRS form 656, Offer in Compromise to submit your offer. You can access the form via this link .   Be sure to read the accompanying booklet. Note that there are different forms of Form 433, Collection Information Statement, that are a part of the submission process. Form 433-A is for use by Wage Earners and Self-Employed Individuals. Form 433-B is used by Businesses. Also note that there is a specific form, 656-L, for use if you are claiming doubt as to liability. The IRS site also has a pre-qualifier tool. But don’t get too upset if it reports that you are not eligible. The tool does not take into account any special circumstances or other issues that may be relevant to your situation. Please refer back to this section of my Blog for a more detailed discussion of this issue.   Who Can File An Offer? An Offer in Compromise (OIC) can be filed by any individual or busines
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Where's My Refund?

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 I filed my return, so where's my refund? The IRS has a great tool to find out the status of your return and your refund. This is their website with the tool.  You will need the following information: Tax Year. SSN Filing Status Refund Amount as shown on your return. This is also a great opportunity for you to set up your ID.Me account . There are many benefits to establishing this account - one of which is access to your IRS records. Many other governmental agencies are using this as a starting point to access their online services as well.  I suggest taking the time to set up this account now. It does take some time and can be slightly frustrating, but you'll be glad you got it done so that you can access many other governmental portals.  Still have questions? Drop me a line at this link and I will be happy to get back you.  Good Luck!
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