Chris W's Articles http://www.financealley.com en-us editorial@financealley.com Offers in Compromise: the Myths and the Facts Myth Number One: The IRS will Accept Pennies on the Dollar You may have heard the term “Pennies on the Dollar” in reference to settling a tax debt. However, 99 cents is “pennies on the dollar,” and filing an Offer in Compromise is compli... http://www.financealley.com/article_500739_75.html 30th March 2008 How Can I Prevent an Audit? What Can I Expect in an Audit? In recent years, the focus of the exam division of the IRS has changed. The service used to examine claims to see if they were true or false. For example, if you claimed a charitable contribution, they’d want to ... http://www.financealley.com/article_500738_75.html 30th March 2008 What is Wage Garnishment? Garnishment is a government seizure of a portion of your paycheck for payment of taxes. It’s also a last-resort tactic of the IRS to get its money. When a taxpayer receives a garnishment, it’s very difficult to negotiate with the IRS for several re... http://www.financealley.com/article_500737_75.html 30th March 2008 How Do I Resolve Past-Due Payroll Taxes? What Happens When Someone Doesn’t File Payroll Taxes? Many small business owners, when cash flow doesn’t cover expenses, find the necessary cash by not sending in payroll taxes. This is a big mistake. When individuals <a href="http://www... http://www.financealley.com/article_500735_75.html 30th March 2008 What to Expect: Your Initial Assessment Consultation Knowledge is Power When you don’t know what your particular tax liability is, you can’t take action, and you can’t resolve the issue. This creates a stressful psychological state of perceived powerlessness. The great news is that you can e... http://www.financealley.com/article_500734_75.html 30th March 2008 Knowledge is Power: Getting Out of “Tax-Avoidance Mode” Often people don’t file a return because they don’t have the money to pay their taxes. Other times they miss filing because of family, health or career stresses. As a result, nothing happens: the IRS doesn’t call, their life stays the same. By the s... http://www.financealley.com/article_500733_75.html 30th March 2008 Your First Line of Defense: Minimize Your Tax Liability When you face a large tax liability, you can give the IRS an Offer in Compromise, or request a Penalty Abatement. But your best defense is to minimize your tax liability at the front end. “With most of our clients, we can show them tax deductions an... http://www.financealley.com/article_500732_75.html 30th March 2008 Life-Saving Mission: Dealing with a Tax Problem Sooner rather than Later Paul hadn’t filed a return since 2000. He sells approximately $10,000,000 of food products annually with 15 employees and 20-30 subcontractors. The average individual conducts one transaction with the IRS each year. The average business owner conducts 6... http://www.financealley.com/article_500730_75.html 30th March 2008 The Facts on Tax Penalty Abatement Tim is a painter. When he started his company, he didn’t have enough money to pay his taxes, so he didn’t file. Tim’s situation is not unique. Many people don’t file because they don’t have the money to pay their taxes, and they think filing ... http://www.financealley.com/article_500729_75.html 30th March 2008 How to Work through an Enormous Tax Problem No matter how large your tax problems, you can resolve them. The associates at Tax Matters Solutions have helped clients who - Had never kept any financial paperwork: no checks, no receipts, no bills - ... http://www.financealley.com/article_500725_75.html 30th March 2008 Tips on choosing a reliable tax relief professional Do internet searches under the name of the business you may want to hire, and put the word "fraud" or "scam" after the business name, (THIS IS A MUST) or after the name of the representative who will be working on your case. Many so called IRS debt solvin... http://www.financealley.com/article_220551_75.html 28th September 2007