Yahoo Web Search

Search results

1. People also ask

   What if I owe a tax refund?

   • It could help you navigate your way through the IRS. Your tax return may show you’re due a refund from the IRS. However, if you owe a federal tax debt from a prior tax year, or a debt to another federal agency, or certain debts under state law, the IRS may keep (offset) some or all your tax refund to pay your debt.

   Refund from Another Year Applied to Debt - TAS

   www.taxpayeradvocate.irs.gov/notices/refund-from-another-year-applied-to-debt/

   See all results for this question

   Can a tax refund be offset if I owe a debt?

   • However, if you owe a federal tax debt from a prior tax year, or a debt to another federal agency, or certain debts under state law, the IRS may keep (offset) some or all your tax refund to pay your debt. Note that depending on the type of debt, the IRS must offset your refund to pay the debt.

   Refund from Another Year Applied to Debt - TAS

   www.taxpayeradvocate.irs.gov/notices/refund-from-another-year-applied-to-debt/

   See all results for this question

   What happens if a tax refund is applied to another tax debt?

   • The IRS applied all or part of taxpayer’s refund to pay another tax debt.; or The IRS is taking or took a collection action against you for a tax year in which you received a refund or didn’t need to file a return. There are several steps you may need to take as outlined in the Taxpayer Guide to Identity Theft.

   I Need Help Resolving My Balance Due - Taxpayer Advocate Service

   www.taxpayeradvocate.irs.gov/get-help/paying-taxes/i-need-help-resolving-my-balance-due/

   See all results for this question

   Can an IRS offer in compromise help you settle tax debt?

   • IRS offers in compromise can help you settle tax debt for less than you owe, but they're difficult to qualify for. The application process can take quite a long time, but these offers can be a huge help if you’re struggling to get out from under a debt load. An IRS offer in compromise enables you to settle tax debt for less than you owe.

   IRS Offer in Compromise: Everything You Need to Know

   money.usnews.com/money/personal-finance/taxes/articles/irs-offer-in-compromise-everything-you-need-to-know

   See all results for this question

   Can I settle my tax debt for pennies on the dollar?

   • Advertisements about "settling your tax debt for pennies on the dollar" typically refer to the process of applying for an IRS offer in compromise (OIC), which is an IRS program designed to help people pay at least some of their tax debt. Statistically, the odds of getting an IRS offer in compromise are not impossible, but pretty low.

   IRS Offer in Compromise: Basics, Who Qualifies - NerdWallet

   www.nerdwallet.com/article/taxes/irs-offer-in-compromise-basics-and-who-qualifies

   See all results for this question

   What if the IRS dismisses my tax debt?

   • If the IRS dismisses your tax debt, you’d need a tax professional to help you get the IRS to provide you with an official Certificate of Release of Federal Tax Lien or a Lien Withdrawal. If you owe tax debt, simply hoping to make it to the 10-year line may not be your best strategy.

   8 IRS Debt Forgiveness Options (Is 10 Years A Myth?) - Silver Tax Group

   silvertaxgroup.com/irs-debt-forgiveness/

   See all results for this question

2. money.usnews.com › money › personal-financeIRS Offer in Compromise: Everything You Need to Know

   money.usnews.com › money › personal-finance

   • Cached

   Feb 20, 2024 · An IRS offer in compromise enables you to settle tax debt for less than you owe. Eligibility requirements for these offers are specific, and the application process can take longer than a...

3. www.taxpayeradvocate.irs.gov › get-help › payingOffer in Compromise - Taxpayer Advocate Service

   www.taxpayeradvocate.irs.gov › get-help › paying

   • Cached

   Dec 17, 2021 · We can offer you help if your tax problem is causing a financial difficulty, you’ve tried and been unable to resolve your issue with the IRS, or you believe an IRS system, process, or procedure just isn’t working as it should.

4. silvertaxgroup.com › irs-debt-forgiveness8 IRS Debt Forgiveness Options (Is 10 Years A Myth?)

   silvertaxgroup.com › irs-debt-forgiveness

   • Cached

   • Offers in Compromise. An Offer in Compromise is a type of tax debt settlement. You and the IRS have come to an agreement that the IRS will settle for a smaller amount to get paid.
   • First Time Penalty Abatement. A few taxpayers might also qualify for a First Time Penalty Abatement. To qualify, the IRS will look at the first year in your series of years where you owed taxes and were behind in.
   • 10-Year Statute of Limitations. The final option for tax forgiveness is using the 10-year rule and the Collection Statute Expiration Date (CSED). You should remember that it’s rarely just ten years.
   • Installment Agreements. Another common IRS tax debt forgiveness option is an installment agreement. This type of arrangement allows taxpayers to pay their debts over time, with payments made periodically and spread out over a negotiated length of time.

5. www.taxpayeradvocate.irs.gov › get-help › payingI Need Help Resolving My Balance Due - Taxpayer Advocate Service

   www.taxpayeradvocate.irs.gov › get-help › paying

   • Cached

   Apr 26, 2022 · If you notice that a payment you made hasn’t been applied to your account, you can contact the IRS toll-free line at 800-829-1040 to ask the IRS to look for your payment. When the IRS processes payments, they include certain numbers on the back of your cancelled check.

6. www.taxpayeradvocate.irs.gov › notices › refund-fromRefund from Another Year Applied to Debt - TAS

   www.taxpayeradvocate.irs.gov › notices › refund-from

   • Cached

   Oct 21, 2020 · Your tax return may show you’re due a refund from the IRS. However, if you owe a federal tax debt from a prior tax year, or a debt to another federal agency, or certain debts under state law, the IRS may keep (offset) some or all your tax refund to pay your debt.

7. www.nerdwallet.com › article › taxesIRS Offer in Compromise: Basics, Who Qualifies - NerdWallet

   www.nerdwallet.com › article › taxes

   • Cached

   Apr 25, 2024 · The offer-in-compromise process has two hurdles: qualifying to apply and getting the IRS to accept your offer. The IRS has an online tool to help you determine if you might be eligible.

8. turbotax.intuit.com › tax-tips › tax-reliefOffer In Compromise: The IRS Tax Debt Compromise Program

   turbotax.intuit.com › tax-tips › tax-relief

   • Cached

   Sep 29, 2024 · An IRS offer in compromise (OIC) can help people with big tax debts pay less than they owe. You suggest a payment amount that you can handle, and the IRS then can accept or reject your offer. However, an OIC isn’t for everyone. Among other things, the application process is long and involves sharing a lot of your financial information.