Tax debt relief refers to a range of IRS programs that help taxpayers resolve balances they cannot pay in full. These programs include short-term payment extensions, long-term installment agreements, hardship-based collection pauses, and settlement options that allow...
Tax debt is money owed to the IRS when a taxpayer’s total tax liability exceeds what they’ve already paid through withholding, estimated payments, or prior credits. It can result from underpayment during the year, unfiled returns, audit adjustments,...
The IRS accepted just 31% of Offers in Compromise in fiscal year 2023. That’s roughly 17,000 approved out of 54,000 filed. The rejected 69% share a pattern we see constantly at Austin & Larson Tax Resolution. Incomplete documentation, math errors on the...
Many taxpayers are facing the crippling effects the IRS can have on you once you get a tax debt. They can begin collection activity on any tax year with an unpaid tax balance. Collection activity can include levies, liens, and wage garnishments. It can be a scary...
In fiscal year 2024, one IRS program generated $7.7 billion in additional tax assessments. That program runs without a single human examiner touching it. The Automated Underreporter system flags mismatches between your return and third party data. Most taxpayers had...
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