Category: Taxation

More Flexible Offer-in-Compromise Terms Help Taxpayers Make a Fresh Start

The IRS has expanded its “Fresh Start” initiative by offering more flexible terms to its Offer-in-Compromise Program. These newest rules enable some financially distressed taxpayers to clear up their tax problems even quicker. An offer-in-compromise (OIC) is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the [..]

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Tax debt relief through bankruptcy discharge

One major misconception about bankrutpcy is that tax debts cannot be discharged. While it is true that some tax debts cannot be discharged, it is not true that all tax debts cannot be discharged. In fact, for many individuals, bankruptcy can offer taxpayers tax debt relief to years-old federal and state tax liabilities that they [..]

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