Partial Pay Installment Agreement The PPIA is a bit more complicated to manage from a records perspective, but can save taxpayers a substantial amount on their tax balances. Taxpayers following this plan have to disclose all financial information and documents to the IRS to be accepted. CTR negotiates a hardship payment based off the taxpayer’s
Traditional Installment Agreement This straight-forward payment method is a simple installment plan in which the taxpayer settles their entire tax debt over many payments. The amount is divided into monthly installments over the 10-Year Statute of Limitations and is based off of the taxpayer’s current financial situation. This program removes the stress of trying to
Unfiled IRS and State Tax Returns Contrary to popular belief, if you missed one or several years of tax returns, whether on the federal or state level (or both), you are not alone. Our experts understand when it is beneficial to file back tax returns, and when it may not be in our clients’ interests.
Tax Liens and effects on property Liens are likely the most common point of issue. The reason is that the IRS can file a lien very easily, without much paperwork and, unlike levies, happens quite often even when not assigned to a Revenue Officer. First, distinguishing a lien from a levy is very important. Liens
Penalties and Possible Penalty Abatements There are several different penalties that may be affecting your ability to pay back your IRS balance. Often times there are ways to address the penalties. Failure to file penalty- As the name implies, this penalty is assessed when a return is not timely filed, either by April 15, or