The IRS announced on May 22 (IR-2012-53) major revisions to its Offer-in-Compromise (OIC) program which may allow many more taxpayers to resolve their IRS tax problems. What is an OIC? It is an agreement between the taxpayer and the IRS that settles a tax debt for less than the full amount owed. This program provides eligible taxpayers with a means to pay off their debt and get a “fresh start” with the IRS. An appropriate offer is based [Read more…] about IRS Announces Major Changes to its OIC Program
Archives for May 2012
PRO BONO TAX SERVICES FOR MILITARY PERSONNEL
Military personnel who were deployed to combat zones and who are experiencing IRS problems can receive pro bono services [Read more…] about PRO BONO TAX SERVICES FOR MILITARY PERSONNEL
Pay Zero Taxes on Capital Gains?
A client recently posed the question: “Is it true that there is a zero tax rate on capital gains?” Yes, a zero tax rate exists. It is [Read more…] about Pay Zero Taxes on Capital Gains?