7 February, 2023 | Payment Plans
You may need to complete Form 433-B if you're applying for a payment plan or hardship status for a business. To apply for an offer in compromise for a business, you need to complete Form 433-B (OIC). Both versions of this six-page form request detailed information about your business finances, but the OIC version takes you through calculating a settlement offer on your taxe... CONTINUE READING
10 December, 2022 | Payment Plans
Settle Tax Debt With an IRS Partial Payment Installment Agreement If a taxpayer cannot afford to pay their full tax bill, the IRS will sometimes agree to settle some of the taxes owed. This can happen in a few different ways, including offers in compromise, currently not collectible status, and partial payment installment agreements. This guide looks at the IRS Partial Payment Installment A... CONTINUE READING
CP501 is one of the first notices that you will receive if you owe taxes to the IRS. Usually, the agency sends out CP501 notices to taxpayers whose accounts are in the automated collection system (ACS)....
