Accounting and Tax

“If you owe IRS, can you buy a house?” is a common question, and yes, owing the IRS does not automatically stop you from buying a home. You may still […]

Can the IRS take your car? Yes, the Internal Revenue Service can seize and sell a vehicle when you owe federal tax debt and the legal levy rules are met. […]

Lien subordination allows another creditor to move ahead of an IRS federal tax lien in priority without removing the IRS lien from the property. This can help a taxpayer refinance […]

The trust fund recovery penalty can make a business owner, officer, manager, or other responsible person personally liable for certain unpaid trust fund taxes. The IRS can assess this civil […]

Form 13711 is the IRS form used to request an appeal after the Internal Revenue Service rejects an Offer in Compromise. You generally have 30 days from the date on […]

The IRS Automated Collection System is a centralized collection operation that handles unpaid tax accounts through notices, phone contacts, and system-generated collection actions. The Automated Collection System, commonly referred to […]

An IRS Revenue Officer is a civil enforcement employee who works cases involving delinquent taxes and unfiled tax returns. If one is assigned to you, an IRS employee can review […]

A streamlined installment agreement is now called a Simple Payment Plan under current IRS rules. It lets qualified taxpayers pay tax debt through monthly payments without a full financial analysis […]

A partial payment installment agreement lets you make monthly payments toward IRS tax debt even when those payments will not fully pay the balance before the collection period ends. The […]

The IRS National Standards for allowable living expenses set monthly amounts that taxpayers can keep for basic household needs before the IRS calculates how much they can afford to pay […]