The IRS Fresh Start Program is a series of initiatives and policy changes launched in 2011 and expanded since, designed to assist individuals and businesses in resolving their federal tax liabilities. This collection of provisions makes it easier for taxpayers to manage and settle their tax debt, offering various options to pay off what they […]
What is IRS Penalty Abatement?
The IRS imposes penalties on taxpayers for various reasons, including failing to file a tax return on time, failing to pay taxes owed, or providing inaccurate information. However, the IRS also offers penalty abatement—a process that allows taxpayers to request a reduction or removal of certain penalties under specific circumstances. Understanding how penalty abatement works […]
How Long Does an Offer in Compromise Take?
If you’re facing significant tax debt and struggling to make ends meet, the Offer in Compromise (OIC) process may offer a lifeline. This tax negotiation program, offered by the IRS, allows qualifying taxpayers to settle their tax debts for less than the full amount owed. While this can be a valuable option, it’s important to […]
Will the IRS Negotiate If You Can’t Pay?
Will the IRS Negotiate if You Can’t Pay? If you’ve opened a notice from the IRS and realized you owe more than you can possibly pay, you may be wondering: can you negotiate with the IRS? The short answer: yes, the IRS will negotiate, but only within the boundaries of formal relief programs. Unlike a […]
What Does Optima Tax Relief Actually Do?
Dealing with a tax liability can be an overwhelming experience, especially when facing IRS collection actions such as wage garnishments, tax liens, or bank levies. Optima Tax Relief provides professional assistance to individuals struggling with tax issues, helping them find the best possible solutions to resolve their tax bill. With a team of experienced tax […]
What is an Offer in Compromise (OIC)?
Tax debts can be a significant burden, causing stress and financial strain for individuals and businesses alike. Fortunately, the IRS offers various options to help taxpayers settle their debts, one of which is known as an Offer in Compromise (OIC). An Offer in Compromise is a valuable tool that allows eligible taxpayers to settle their […]