In Budish v. Commissioner, T.C. Memo. 2014-239, the U.S. Tax Court held that the IRS erred in insisting on a tax lien being filed before it would accept an installment agreement. This case serves as a reminder that a tax lien does not have to be filed if it creates a hardship that would make…
Category: Installment Agreement
Installment Agreement
A payment plan to pay off IRS tax debts over time, allowing taxpayers to avoid collection actions. Give us a call to see how we can help, (713) 909-4906.
Increased Fees for IRS Tax Installment Agreements
The IRS recently reviewed the government cost of processing IRS tax payment installment agreements, which has resulted in the IRS proposing to increase the costs for filing IRS installment agreements. The IRS tax payment installment agreement is one of the remedies of last resort for taxpayers who have outstanding tax liabilities. There are a number…
Deposits vs. Payments: How to Pay the IRS
Paying taxes is an essential part of being a responsible citizen. The IRS has specific rules and procedures for taxpayers to follow when submitting their tax payments. However, many taxpayers may not be aware that there is a difference between making a payment and a deposit when paying the IRS. The two are not the…
IRS Can Force Business to Shut Down
There is something about the human condition where we expect reason to prevail. We expect that if given the opportunity to explain, reasonable parties who take contrary positions will agree. This is not always the case, and it is often not the case when it comes to the IRS. For example, many businesses that owe…
IRS Cannot Reject Payment Plan That is Too High
In the context of tax debt, the IRS offers taxpayers the option of submitting installment agreement requests to pay off their debts over time. However, the IRS also calculates a taxpayer’s “reasonable collection potential” to determine the amount that the taxpayer can reasonably pay toward their tax debt. If the IRS determines that the proposed…