What is innocent spouse relief? Learn how you might be able to lift some of your tax burdens arising from incorrect information on your joint statement through this concept.RELATED: Fact Sheet: IRS Innocent Spouse and Injured Spouse AllocationIn this article:What Is Innocent Spouse Relief? Comparing the Three Types of IRS Innocent Spouse Relief General …Continue Reading
Tax Debt Relief
The 3 Types Of IRS Offer In Compromise And Their Eligibility Requirements
The IRS Offer in Compromise has three programs in place to aid qualified taxpayers in resolving their back taxes.RELATED: IRS Offer In Compromise | What It Is And How Can It Help YouIn this article:Doubt as to Collectibility Doubt as to Liability Effective Tax AdministrationExploring IRS Offer in Compromise Options and How To Qualify for Each1. Doubt …Continue Reading
How To Avoid Taxes Through The Mortgage Forgiveness Debt Relief Act
Here's what you need to know about the Mortgage Forgiveness Debt Relief Act and how it can exempt you from paying taxes on canceled debt.RELATED: Mortgage Tax Deduction Options That You Should Know About A Guide to the Mortgage Forgiveness Debt Relief Act Step 1. Report Canceled Debt in Your Tax Return The IRS considers canceled debt as income. Therefore, it is taxable. …Continue Reading
Appealing Your Rejected Or Terminated IRS Installment Agreement
Was your IRS installment plan request rejected? Review how and where to begin appealing a rejected or terminated installment agreement request here.RELATED: IRS Installment Agreement Types | How Can It Help YouIn this article:Considering an IRS Installment Agreement for a Tax Debt What If I Owe Taxes and Can’t Pay? What Is an IRS Installment Agreement? …Continue Reading
How To Deal With The IRS Regarding Cancellation Of Debt
Were you aware that cancellation of debt may mean higher income taxes for you? Here's how to deal with it with the IRS.RELATED: FAQs On Tax Debt Relief Guide to Coordinating with the IRS for Cancellation of Debt 1. Understand How the IRS Considers Debt Cancelled What Is Cancellation of Debt? A debt is cancelled when a creditor decides to forgive a debtor’s tax liability …Continue Reading
