Paying taxes with a credit card may seem like an easy way to resolve your tax debt, but there are several factors to consider before making this decision.

One of the main benefits of paying taxes with a credit card is that it can help you resolve your tax debt quickly. By using a credit card, you can make a payment to the IRS right away and avoid any potential penalties or interest charges that may accrue if you are unable to pay your taxes on time. Additionally, many credit card companies offer rewards or cash back for using the card, which could help you earn some extra money while paying off your tax debt.

An Offer in Compromise (OIC) is a program administered by the Internal Revenue Service (IRS) that allows taxpayers to settle their tax debt for less than the full amount they owe. The program is designed to provide a way for taxpayers who are unable to pay their tax debt in full to resolve their tax problems and become compliant with their tax obligations.

To qualify for an OIC, a taxpayer must demonstrate that they are unable to pay their tax debt in full, and that the amount offered in compromise is the most the IRS can expect to collect within a reasonable period of time. The IRS will consider a taxpayer's income, expenses and assets when determining their eligibility for an OIC.

The IRS Fresh Start Initiative is a program that was launched by the Internal Revenue Service (IRS) to help taxpayers who are struggling to pay their taxes. The program aims to provide taxpayers with more flexible payment options and increased access to hardship relief. The initiative has several key features, including:

1. Increased Income Tax Return Filing Thresholds: The Fresh Start Initiative increased the income thresholds for taxpayers who are required to file a tax return. This means that more taxpayers may now be able to avoid filing a tax return and paying taxes altogether.

If you find yourself owing money to the Internal Revenue Service (IRS) for unpaid taxes, it can be a stressful and overwhelming situation. However, there are several ways to get out of IRS debt and resolve your tax problems. In this blog post, we'll discuss some strategies for getting out of IRS debt, including paying off the debt in full, setting up a payment plan, and settling the debt for less than what you owe through the Offer in Compromise (OIC) program.

1. Pay off the debt in full: The easiest way to get out of IRS debt is to pay it off in full. If you have the money to do so, you can simply write a check or make a payment online to the IRS. If you're unable to pay off the entire debt at once, you may be able to set up a short-term payment plan, known as a “partial payment installment agreement,” to pay off the debt in full over a period of time.

The IRS offers several programs to help taxpayers resolve unpaid back taxes and get back on track with their tax obligations. One of the most popular of these programs is the IRS back tax forgiveness program, also known as the Offer in Compromise (OIC) program. In this blog post, we will explain what the IRS back tax forgiveness program is, who is eligible for it, and how to apply for it.

An Offer in Compromise (OIC) is an agreement between a taxpayer and the IRS that settles the taxpayer's tax liability for less than the full amount owed. The purpose of the OIC program is to give taxpayers who are unable to pay their taxes in full the opportunity to resolve their tax debt and become compliant with their tax obligations. The OIC program is considered a last resort after all other payment options have been exhausted or aren’t feasible.

A tax controversy attorney is a legal professional who specializes in helping clients navigate the complex world of tax law and resolve disputes with the IRS. If you find yourself facing a significant tax debt, hiring a tax controversy attorney can be a wise move to help you get tax debt relief. In this blog post, we will explain what a tax controversy attorney does and how they can help you get tax debt relief.

One of the primary responsibilities of a tax controversy attorney is to help clients understand and comply with their tax obligations. This can include providing guidance on tax planning, helping clients understand the tax implications of business or personal transactions, and assisting with tax return preparation. If a client is facing a tax audit or other investigation by the IRS, a tax controversy attorney can help them navigate the process and negotiate with the IRS on their behalf.

Theresa Nguyen J.D. LL.M. once again joins forces with LawPro CLE, a national continuing legal education company from Covington, to share knowledge and wisdom with her fellow peers. This time, it's to present 'Advising the Client with IRS Tax Debt' in a live broadcast on Friday, December 1st, 2017 at 10:00 am PST or on-demand recording.

Dave and Selma are long into their retirement years, struggling financially, and longed to enjoy the final moments of their lives without worry. When he was younger, Dave made his fortune starting and operating many successful enterprises. Generating revenue was never a problem for him. However, bookkeeping and accounting was his weakness.

Now, he owed nearly $300,000 in unpaid taxes, interest and penalties. His wife was also separately accessed for close to $270,000. Recently, Selma was diagnosed with a severe medical condition and the burden of dealing with the IRS was becoming too much for the both of them.